Pork Cutout Slips, Still Above Year Ago

The pork cutout value slipped below $100 per cwt for the last few weeks but remains about $17 to $19 per cwt more than where prices were last year, said the Livestock Marketing Information Center in its Livestock Monitor.   MID-APRIL PEAK   In mid-April, the pork cutout value peaked at just over $100 for … Read More

Consumers Still Have Debt Margin

While consumer debt is high, consumers still have room to run, explaining some of the confusion about why buying of some things, like choice beef, continues, according to an economic bulletin from the Kansas City Federal Reserve Bank. Although the share of credit card debt transitioning into delinquency has risen, it remains below levels seen … Read More

Canada Cattle On Feed Decline Seasonally

Canada’s May 1 cattle on feed numbers continued a seasonal decline but fell further below the 2018-2022 average as April placements dipped to a point between year-ago and the previous five-year average. For comparison, the May US Cattle on Feed report showed the April 1 population in feedlots of 1,000 head or more one-time capacity … Read More

Funds Boost Net Long Cattle Position

For the second straight week, managed money, a proxy for large commodity index funds, increased their collective net long live cattle futures position as hedgers reduced their total net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday, which chronicle’s trader groups’ holdings as of Tuesday.   … Read More

USDA’s 2025 Beef Production Estimate Down

The USDA’s outlook for 2025 beef production was 25.120 billion pounds, down 6% from 2024, the Department said in its monthly Livestock, Dairy, and Poultry Outlook: May 2024, Thursday. Next year will mark the third straight year of lower production following the record large volume in 2022 and will be the lowest since 2015, when … Read More

Q1 Tenth District Farm Incomes, Credit Tighten

Farm income and credit conditions in the Tenth Federal Reserve district tightened in the first quarter of 2024, said Kansas City Federal Reserve Bank Economists Nate Kauffman and Ty Kreitman, in a Bank release. According to the latest Survey of Agricultural Credit Conditions, farm incomes retracted at a sharp pace, farm loan repayment rates declined … Read More

May 1 Hay Stocks Up 47% From Year Earlier

US hay inventories on May 1 were up 6.677 million short tons, up 47% from a year ago, based on the USDA’s Crop Production report on Friday. The report said stocks totaled 21.010 million tons, compared with 14.333 million on May 1,2023.  This follows three straight years of May 1 inventory declines, said Hay and … Read More