The Livestock Marketing Information Center in Denver predicted Friday in a newsletter to Extension Agents called In The Cattle Markets that national alfalfa price would be above a year ago in 2021. Other hay prices may weaken with normal yields, but the first part of the new marketing year supplies were expected to be tight. … Read More
Frozen Red Meat Stocks Rise
The USDA’s National Agricultural Statistics Service said Monday in its monthly Cold Storage report that total red meat supplies in freezers on Dec. 31 were up about 1% from its December report but were down about 11% from last year. Total pounds of beef in cold storage were up about 4% from Nov. 30 and … Read More
Funds Take Larger Net Long Cattle Position
Managed money, a proxy for large commodity investment funds, augmented their collective net long live cattle futures position in the week ended Tuesday as hedgers increased their net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday. FUNDS BOOST LONG CATTLE POSITION As of Tuesday, … Read More
FAS Revises Mexican Corn, Wheat Production Forecast Downward
The USDA’s Foreign Agriculture Service last week revised downward its estimate of 2020/21 Mexican wheat and corn production while boosting slightly the estimate for sorghum production. But US export prospects to fill any production gaps were muddied by a Dec 31 decree calling for a phase-out of the use of glyphosate and genetically modified corn … Read More
Choice/Select Spread Widening Counter-Seasonally
The difference between wholesale prices for USDA choice- and select-grade beef, known as the choice/select spread, is widening counter-seasonally, USDA data show. Data from the USDA’s Agricultural Marketing Service and compiled by the Livestock Marketing Information Center in Denver showed that the choice/select spread last week averaged $11.42 per cwt. This was up $1.17 per … Read More
Rising Corn Prices Will Bring Cattle Market Changes: Peel
“The cure for high prices is high prices,” the old saying goes, and rising corn prices will produce belt-tightening among its users to limit costs and ensure adequate supplies. Derrell Peel, Oklahoma State University agricultural economist, wrote in a letter to Extension agents called Cow/Calf Corner that higher corn prices provide incentives for feedlots to … Read More
Managed Money Cuts Long Cattle Position
Large commodity index funds, known as managed money, cut their collective net long live cattle futures position in the week ended Tuesday, Jan. 5, for the second straight week, while hedgers expanded their combined net short position. The data came from the Commodity Futures Trading Commission in its weekly Commitments of Traders report Friday. … Read More