Agricultural lending at commercial banks appeared to soften further in the second quarter amid the ongoing pandemic, the Federal Reserve Bank of Kansas City said in a release. Financing secured through recent government lending programs likely supported the borrowing demands for some producers, the bank said. A weak outlook for the agricultural sector amid low … Read More
Funds Cut Long Live Cattle Position
Managed money, a moniker for large commodity investment firms, cut their collective net long live cattle futures positions during the week ended Tuesday, even though hedgers extended their net short positions. The Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday showed that managed money’s new net long live cattle position was 19,968 contracts, … Read More
ERS Forecasts More Beef 2020 Production
The USDA’s Economic Research Service second-quarter 2020 forecast for beef production was raised Thursday on recent slaughter data. The monthly Livestock, Dairy, and Poultry Outlook said third- and fourth-quarter 2020 forecasts were raised on heavier carcass weights and a faster expected pace of slaughter. The increase in slaughter and carcass weights elevated the annual beef … Read More
Beige Book Reports Increased Economic Activity
The US Federal Reserve Bank issued its Beige Book Wednesday, an assessment of economic activity in the country, and said economic activity increased in almost all Federal Reserve districts, but remained well below where it was prior to the COVID-19 pandemic. OVERALL ECONOMIC ACTIVITY Consumer spending picked up as many nonessential businesses were … Read More
Suther Feeds Now Reaches Into Nine States
Beginning with a single mobile feed grinder in 1963, Suther Feeds Inc., of Frankfort, KS, has grown to a cattle feed and nutrition consulting firm that today has customers in nine states. Jerry Suther, along with partners Tim Suther and Michael Joel, operate the company begun by Jerry and Tim’s father Melvin. Jerry said his … Read More
USDA Boosts Red Meat, Poultry Production Estimates
The latest USDA forecast for 2020 red meat and poultry production was raised 1.539 billion pounds, or 1.47%, to 106.544 billion pounds from 105.005 billion last month. The new forecast came from the USDA’s monthly World Agricultural Supply and Demand Estimates report Friday. For 2021, the red meat and poultry production forecast was raised 600 … Read More
Funds Extend Long Live Cattle Position
Large commodity investment funds, known as managed money, extended their collective net long live cattle position in the week ended Tuesday to its largest in 4 ½ months, according to data from the Commodity Futures Trading Commission. The CFTC said in its weekly Commitments of Traders report Friday that managed money’s new live cattle position … Read More