Large commodity investment firms, called managed money, covered short live cattle futures positions aggressively in the week ended Tuesday, Nov. 3, while hedgers extended their collective net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Monday. The report was delayed from Friday by the observance of the … Read More
October CPI Steady After September Rise
The Consumer Price Index from the US Bureau of Labor Statistics last week showed Consumer Prices for All Urban Consumers were unchanged in October on a seasonally adjusted basis after rising 0.2% in September. Over the last 12 months, the all-items index increased 1.2% before seasonal adjustments. A market analyst said that with the money … Read More
Farm Financial Outlook Improves: Federal Reserve
Better profit opportunities for crop and livestock producers, as well as additional government support, created more favorable conditions for Tenth District farm finances in the third quarter than earlier in the year, said the Kansas City Federal Reserve Bank, in a report. Farm income and credit conditions remained weak, but the pace of deterioration slowed … Read More
USDA Raises 2020 Red Meat, Poultry Production Forecast
The USDA’s forecast for 2020 total red meat and poultry production Tuesday was raised from last month on higher beef, pork and broiler production estimates. The data came from the monthly World Agricultural Supply and Demand Estimates report Tuesday. For 2021, the total red meat and poultry forecast was raised from last month as higher … Read More
Corn Shoots Higher After USDA Report Cuts Supplies
Dec Chicago corn futures shot up by $0.15 ½ a bushel Tuesday to settle at $4.23 after the USDA’s World Agricultural Outlook Board released its November World Agricultural Supply and Demand Estimates report, dropping its ending stocks estimate to its lowest point in 21 years. Soybean futures also shot up, setting a new contract high. … Read More
September Kansas Closeouts Decline Seasonally
The number of fed cattle sold to beef packers from an average Kansas feedlot in September declined seasonally from what may be the annual high in August. The data came from a monthly Kansas State University survey of select Kansas feed yards. This data then was extrapolated and published by the Livestock Marketing Information Center … Read More
Funds Reverse Course, Raise Long Cattle Position
Large commodity investment firms, called managed money, reversed four weeks of selling live cattle futures and increased their collective net long position slightly during the week ended Tuesday. Commercial traders, or those who own the cattle and primarily use futures as a hedging tool, reduced their collective net short position in the same week. The … Read More