US corn demand is up in the 2020/21 marketing year from 2019/20 with exports playing a leading role, said Ben Brown, of the Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, in a release on Illinois farmdocdaily. The USDA increased its 2020/21 US corn export forecast by 75 million bushels in the … Read More
Funds Slash Long Live Cattle Position
The Commodity Futures Trading Commission showed Friday that large commodity investment firms, known as managed money, slashed their holdings of live cattle futures as hedgers covered their short positions during the week ended last Tuesday, April 20. The data came in the CFTC’s weekly Commitments of Traders report, which showed that managed money and hedgers, … Read More
COF Report Seen Bearish After Initial Bullish Call
Contrary to shoot-from-the-hip reactions Friday, March’s feedlot placement rate in the USDA’s monthly Cattle on Feed report Friday may be considered bearish to futures prices Monday. The placement rate fell below pre-report expectations by analysts in a survey by Urner Barry, but when placed against the 2015-2019 average, it was nothing special. And the weight … Read More
Frozen Red Meat Supplies Down; Poultry Stocks Mixed
Total red meat supplies in US freezers on March 31 were down about 6% from a month earlier and down about 17% from last year, the USDA said in its monthly Cold Storage report Thursday. Total frozen poultry supplies on March 31 were up slightly from a month earlier but were down about 17% from … Read More
Western US Very Dry; Production Capabilities Questioned
The weekly drought monitor map shows large portions of the western half of the contiguous 48 states to be experiencing exceptional drought conditions currently, calling into question cropping and livestock-producing capabilities this year. The US Drought Monitor is produced through a partnership between the National Drought Mitigation Center at the University of Nebraska-Lincoln, the US … Read More
Oil Prices, US Consumer Spending, An Evolving Link: Bank
The link between US consumer spending and oil prices isn’t concrete, tending to evolve over the last 20 years, according to a study done and published by the Federal Reserve Bank of Kansas City. There are two main channels through which oil price changes affect consumer spending, the bank said. The overall effect of these … Read More
Canada Cattle On Feed Near Steady
The number of cattle on feed in Alberta and Saskatchewan on April 1 continued a nearly level monthly 2021 total, according to data from CanFax a private market advisory firm. CanFax surveys member feedlots in the two provinces and shares some of its data with the Livestock Marketing Information Center in Denver who processes it … Read More