Large commodity investment funds, called managed money for short, continued to increase their collective net long position in live cattle futures during the week ended Tuesday, according to the weekly Commitments of Traders report from the Commodity Futures Trading Commission. Friday’s COT report showed that managed money’s new net long position stood at 60,498 contracts, … Read More
Kansas Feedlots Cut September Marketings
Kansas feedlots cut sales of slaughter-ready cattle to packers in September, pulling sales very near last year and the 2013-2017 average. The data comes from a Kansas State University survey of selected feedlots around the state that was compiled and extrapolated by the Livestock Marketing Information Center in Denver before being published on their website. … Read More
Sep. Beef Exports Nearly Steady
September’s US beef exports were nearly steady with last year in volume, although the value of those exports trended lower, according to data released by USDA and compiled by the US Meat Export Federation. In a release, the USMEF also said September pork exports were above year-ago levels but pulled back from the large totals … Read More
Holiday Beef Demand Aggressive
Right on schedule, holiday beef demand has shown up in wholesale markets, and it appears to be aggressive, said Glenn Selk, Oklahoma State University agricultural economist, in a letter to Extension agents called Cow/Calf Corner. Strong demand and tighter choice supplies (from a lower percentage of choice carcasses) are contributing to sharply higher choice beef … Read More
Phase 1 May Not Deliver Expected Soybean Exports
While the prospect of expanded exports to China appears promising with the Phase 1 deal, the overall increase in US soybean exports may not be at levels equivalent to Chinese buying said Todd Hubbs, agricultural economist with the University of Illinois in a letter to Extension agents called Farmdoc Daily. During the 2018-19 marketing year, … Read More
Funds Boost Long Cattle Position
Large commodity investment funds, called managed money by traders, boosted their collective net long live cattle futures position during the week ended Tuesday, according to the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday. The CFTC said managed money’s new net long live cattle futures position Tuesday stood at 38,273 contracts, up 9,933, … Read More
Beef Packer Margins Expand; Feeder Margins In Red
Estimated beef packer margins expanded again last week, while cattle feeding margins remained in the red, according to Sterling Marketing Inc.’s weekly Beef Profit Tracker. The Profit Tracker, which is published by Drovers, showed estimated feedlot returns on unhedged, slaughter-ready cattle sold to packers last week at a minus $24.80 a head, compared with estimated … Read More