The USDA’s total US red meat and poultry production forecast for 2023 was reduced from last month as higher beef production estimates are more than offset by lower pork and poultry production, the USDA said in its June World Agricultural Supply and Demand Estimates report.   BEEF PRODUCTION ESTIMATE RAISED   The 2023 beef production … Read More

The USDA’s estimates of corn ending stocks for the 2022/23 and 2023/24 marketing years were raised this month, because of lower estimated corn exports for 2022/23, the USDA’s June Feed Outlook said. The reduction in exports was offset partially by a reduction in corn imports during the current marketing year.  Projections of production and use … Read More

In the world of commodity trading, basis plays a crucial role in understanding the relationship between futures and cash prices, said Narciso Perez, director of cattle operations for Zia Agricultural Consultants in Albuquerque, NM.   UNDERSTANDING BASIS   The basis is the numerical difference between the nearest futures delivery month price and the corresponding cash … Read More

For the third straight week, large commodity index funds, or managed money, increased their collective net long live cattle futures position, while cattle owners boosted their total net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report on Friday with data from the previous Tuesday.   MANAGED MONEY … Read More

April US pork exports achieved gains in a wide range of markets, according to data released by the USDA and compiled by the US Meat Export Federation, while beef exports were less than the very large totals posted a year ago. USMEF President and CEO Dan Halstrom said in a USMEF release of the data … Read More

Kansas feedlot sales to packers declined in April to a possible seasonal low, according to data from a Kansas State University monthly survey. The data is collected by the KSU Extension Service from select feedlots around the state of varying size and location.  They then are compiled to form a theoretical average feedlot’s activity and … Read More

Producer sentiment fell to its weakest reading since July 2022, as the Purdue University/CME Group Ag Economy Barometer declined 19 points to a reading of 104 in May, said Purdue University Agricultural Economist James Mintert, in a release of the survey results. The Ag Economy Barometer is calculated each month from 400 US agricultural producers’ … Read More