Fed cattle prices likely will weaken in the wake of Saturday’s fire that closed Tyson’s Holcomb, KS, fed cattle slaughter and packing facility “indefinitely,” market analysts and a feedlot manager said. Wholesale and retail beef prices also could rise until supply chains can be reshaped, the analysts said. At the very least, cattle market volatility … Read More
Little Hedging Room For Cattle Feeders
The live cattle basis isn’t allowing much of a hedging window for cattle futures currently. The basis is the difference between cash and futures markets, calculated by subtracting futures prices from cash prices. When the result is a positive number, it means cash prices are higher than the futures delivery month in question, and when … Read More
Ag Economy Barometer Jumps Amid Improved Expectations
The Purdue University/CME Group Ag Economy Barometer reading jumped to 153 in July, up 27 points from June and up 52 points from May on improved expectations for current economic conditions, according to a university release. Results are based on a survey of 400 agricultural producers across the US conducted from July 15 through 19, … Read More
June Pork, Beef Exports Above Year Ago
US pork and beef exports were above year-ago levels in volume and value in June, according to data released by the USDA and compiled by the US Meat Export Federation. Led by a rebound in Mexico and China, pork export value was the highest in 14 months, while strong results in South Korea and Taiwan … Read More
Beef Product Prices Variations Differ Through The Year
Cattle and wholesale beef prices vary seasonally, and it’s useful to examine how they change over time. Derrell Peel, Oklahoma State University agricultural economist, looked at these seasonal variations over the last three years and spelled it out in a letter to Extension agents called Cow/Calf Corner. BOXED BEEF CUTOUT The USDA’s boxed … Read More
Funds Nudge Cattle Position Higher
Large commodity investment funds, known collectively as managed money, nudged their net long live cattle futures position higher for the fourth straight week in the week ended Tuesday. The action was revealed in the weekly Commitments of Traders report Friday from the Commodity Futures Trading Commission. The CFTC said managed money’s new net long live … Read More
Beef By-Product Values Cut By Weak Hide Prices
Beef by-product values have been well below the 2013-2018 average for the last 18-months, and are preventing any moves toward the five-year average. Beef by-product values, especially hide values, often are considered a bit of a bellwether of global economic conditions, said Oklahoma State University Extension Livestock Marketing Specialist Derrell Peel, in a letter to … Read More