Agricultural credit conditions in the Kansas City Federal Reserve Bank’s Tenth District continued to strengthen in the first quarter of 2021, the bank said in a release showing the results of its quarterly credit survey. After a sharp rebound at the end of 2020, conditions in the broad agricultural economy continued to improve alongside additional … Read More
USDA Sees Higher 2022 Red Meat Production
Total US red meat and poultry production for 2022 was forecast to be more than 2021 as higher pork and poultry production estimates more than offset lower beef production forecasts, said the USDA in its monthly World Agricultural Supply and Demand Estimates report Wednesday. Beef production was forecast lower on smaller year-over-year slaughter levels. Pork … Read More
March US Meat Exports Up Strongly
US red meat exports ended the first quarter on a very high note, according to data released by USDA and compiled by the US Meat Export Federation, with March beef and pork exports each posting the highest monthly value on record. Pork exports and shipments of beef muscle cuts also set new volume records in … Read More
Corn Hammered By Rapid Planting Progress, Rain
Chicago corn futures prices tumbled Monday amid news reports showing the likelihood of better growing conditions – at least for the short term, market analysts said. Planting progress and rain in some key areas of the contiguous 48 states were credited with the price pressure. Weekend rains were better than some expected last week, accelerating … Read More
Funds Take Less Long Live Cattle Position
Managed money, those large commodity investment funds, for the fourth straight week liquidated long futures positions and as of Tuesday were at their lowest point in 3 ½ months. At the same time, commercial traders, those who own, or will own, the cattle at some point in their lives, cut their collective net short live … Read More
Row Crop Soil Moisture OK For Now; Concerns Growing
Soil moisture conditions in the Plains, Midwest and Southeast remained favorable for crops after storms there during the week ended Tuesday, but western states remain parched, according to Thursday’s US Drought Monitor from the National Oceanic and Atmospheric Administration and the National Weather Service. In Texas, seven-day rainfall accumulations ranged from 2 to 10+ inches … Read More
Female Cattle Slaughter Above Average
At a time when most cattle traders are focused on beef and corn prices, something as mundane as beef cattle female slaughter could slip under the radar, but it shouldn’t, a market analyst said. Continued drought in many western US states appears to be adding to a move to liquidate some beef cows, just as … Read More