After two weeks of declines in their collective net long live cattle futures position, large commodity index funds, known as managed money, stepped up and increased their position in the week ended Tuesday. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday in which it also said commercial traders … Read More
IMF Blog: Countries Must Act On Inflation
An IMF blog by Kristalina Georgieva listing how the G20 can respond to a darkening economic outlook was an interesting read. Here is a shortened version. When the G20 last met in April, the IMF had just cut its global growth forecast to 3.6% for this year and next. Since then, several predicted risks … Read More
Pork Export Outlook “Increasingly Grim,” USDA
While global pork exports were expected to suffer a setback in 2022, the outlook is increasingly grim, said the USDA’s Livestock and Poultry: World Markets and Trade report Tuesday. This month, 2022 China imports were revised downward nearly 1.4 million tonnes from the April forecast to about half of 2021 levels because of moderate recovery … Read More
USDA Lowers Meat Production Estimate
The USDA’s World Agricultural Outlook Board lowered its estimate of 2022 red meat and poultry production slightly from last month as lower pork and broiler production estimates are offset by higher beef and turkey production forecasts. The 2023 red meat and poultry production forecast was raised from last month as higher pork production forecasts more … Read More
Beef Exports Set New Volume, Value Records
US beef exports set new volume and value records in May, topping $1 billion for the fourth time this year, according to data released by USDA and compiled by the US Meat Export Federation. While pork exports were well below last year’s, shipments were the largest of 2022 in volume and value, a release by … Read More
Managed Money Cuts Net Long Live Cattle Position
Large commodity index funds cut their collective net long live cattle futures position in half in the week ended Tuesday as hedgers covered a large portion of their total net short position, according to data from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday. FUNDS LIQUIDATE LONG CATTLE POSITIONS The … Read More
Second-Half Cattle Beef Markets Uncertain
Exactly how continuing drought, reduced forage production and high feed prices will affect cattle and beef markets in the coming months remains uncertain. Nevertheless, the second half of 2022 is shaping up to look significantly different than the first half of the year, said Oklahoma State University Extension Livestock Marketing Specialist Derrell Peel. Writing in … Read More