Is The Seasonal Rally Topping?

There is little arguing the effect strong beef demand has had on the fed cattle market this year, underpinning prices in the face of active slaughter and more beef production, but the party may be nearing a seasonal end. In a market analysis for Beef magazine, Cattle and Beef Industry Consultant Nevil Speer said the … Read More

Funds Cut Long Cattle Position

Managed money, a proxy for large commodity investment funds, reduced its cumulative net long live cattle futures position in the week ended Tuesday to 51,177 contracts from 59,929, said the Commodity Futures Trading Commission. The CFTC revealed the statistics in its weekly Commitments of Traders report Friday.  The decline amounted to 8,752 contracts, or 14.6%.  … Read More

USDA Lowers 2018 Beef Production Forecast

The USDA’s Economic Research Service lowered its 2018 beef production forecast by 30 million pounds to 26.9 billion pounds from its estimate a month ago. The forecast, contained in the ERS’ monthly Livestock, Dairy, and Poultry Outlook Thursday, went on to say the mild revision was based on numbers at the close of the third … Read More

Weekly Boxed Beef Value Rising Seasonally

The weekly average USDA boxed beef cutout value is moving higher seasonally, although the most recent levels are above last year and the 2012-2016 average. The weekly boxed beef cutout value rose $0.70 per cwt to $217.37, its highest value since mid-June, to close out the week ending Nov. 9. But choice beef is not … Read More

Steer Slaughter Behind Year Ago

Steer slaughter so far this year is running below year ago levels, despite quarterly feedlot inventories being larger than last year, said Oklahoma State University Extension Livestock Marketing Specialist Derrell Peel in a market analysis to Extension agents. For the year to date, steer slaughter is about 1% below last year but in the last … Read More

Corn Futures’ WASDE Response Muted

The Chicago corn futures market’s response to the Nov. 9 USDA World Agricultural Supply and Demand Estimates report has been lackluster, said Todd Hubbs, University of Illinois agricultural and consumer economist in an examination of the market for Farm Doc Daily. The report contained significant revisions to Chinese corn supply data and a downward revision … Read More

Funds Cut Long Cattle Position

Managed money, a proxy for large commodity investment firms, cut their collective net long live cattle futures position for the fifth straight week as of Tuesday, according to data from the Commodity Futures Trading Commission. The CFTC’s weekly Commitments of Traders report Friday showed that managed money’s new net long live cattle futures position as … Read More