October was another strong month for US red meat exports as beef export value continued to soar, according to data released by USDA and compiled by the US Meat Export Federation. October pork exports were less than last year’s large total, but year-to-date shipments remained slightly above the record pace of 2020. “USMEF has always … Read More
Funds Extend Long Cattle Position
Large commodity investment firms, known as managed money, extended their collective net long live cattle position in the week ended Tuesday for the fifth straight week, according to Friday’s weekly Commitments of Traders report from the Commodity Futures Trading Commission. At the same time, commercial traders, those who own the cattle and theoretically could make … Read More
WASDE Report: Red Meat, Poultry Production Forecast Down
The USDA’s monthly World Agricultural Supply and Demand Estimates report Thursday said total red meat and poultry production estimate for 2021 was reduced from last month as lower broiler and turkey production forecasts more than offset higher beef and pork production estimates. For 2022, the total red meat and poultry production estimate was raised from … Read More
China’s Dairies Expanding, Want US Alfalfa: FAS
Driven by strong consumer demand for dairy products, China’s dairy farming industry is experiencing rapid expansion and increasing herd size, said the USDA’s Foreign Agriculture Service, in a release. Demand for forage products is rising as large, modern dairy farms use more high-quality forages like alfalfa, timothy hay and oat grass, the FAS said. Imports … Read More
Farmer Sentiment Slips In November
The Purdue University/CME Group Ag Economy Barometer slipped five points in November to a reading of 116 as producer pessimism about the current and future outlook of the agricultural economy continued, said James Mintert, director of the Purdue University Center for Commercial Agriculture, in a release. The Ag Economy Barometer is calculated each month from … Read More
Cutout Declining But Above Last Year, Average
The USDA’s weekly choice boxed-beef cutout value is declining but, at $273.17 per cwt, remains above last year and the 2015-2019 average, according to the Livestock Marketing Information Center. The LMIC used data from the USDA’s Agricultural Marketing Service to compile the weekly data and post the results on its web site. Since the cutout … Read More
Managed Money Takes Larger Net Long Cattle Position
Large commodity investment firms, known as managed money, raised their collective net long live cattle position in the week ended Tuesday as hedgers boosted their total net short positions. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday. FUNDS NET LONG CATTLE As of Tuesday, managed money … Read More