For the moment, live cattle futures are in an uptrend, but there are warning signs that point to a possible reversal of fortune for bullishly construed traders. The most-active Oct contract is nearing some trendline resistance points, and Thursday’s lower close suggests a resumption of lower-trending markets. The fact that today is Friday and the … Read More

Record-large red meat and poultry production during the first six months of the year likely was not met with record-large per-person disappearance, said the Livestock Marketing Information Center in its weekly Livestock Monitor. Adding in LMIC projections of imports and exports for June, estimated per-person disappearance of red meat and poultry for the first six … Read More

The difference between cash cattle markets and the nearby Aug futures contract is very wide, making convergence before the contract expires on Aug. 31 more difficult. Something has to give.  Either futures have to rise, or cash prices have to decline before expiration to get the two into close proximity by expiration. The difference is … Read More

Bullish inferences from Friday’s monthly Cattle-On-Feed report Monday overrode any bearish implications from the monthly Cold Storage report, taking several contract months up the daily limit of $300 per cwt. The report showed total pounds of beef in US freezers as of July 1 was up 5.15 million pounds, or 1.15% from June 1 at … Read More

Commodity investment funds, or managed money, expanded their net long live cattle futures position during the week ended Tuesday for the third straight week, signaling a slightly more bullish outlook. The Commodity Futures Trading Commission said in its weekly Commitments Of Traders report Friday that during that week, managed money had raised their net long … Read More

Total red meat production rose seasonally during the second week of July as pork production expanded beyond the reach of even last year’s inflated production. USDA’s Agricultural Marketing Service and National Agricultural Statistics Service data show total red meat production for that week at 931 million pounds.  This was comprised of pork production at 444.1 … Read More

Weekly US beef prices continue to show a bearish bias, contrary to the 2010-2014 average, as more product enters the wholesale and retail pipeline. Some market analysts like Oklahoma State University Extension Livestock Marketing Specialist Darrell Peel in the Oklahoma Farm Report also think summer heat may be making consumers and traders alike a little … Read More