Large commodity investment funds, known as managed money in the trade, continued to close in on a net-zero position in live cattle futures during the week ended Tuesday, according to data released by the Commodity Futures Trading Commission on Friday. The CFTC’s weekly Commitments of Traders report said that, as of Tuesday, managed money’s net … Read More
Cattle, Beef Markets Awash In Uncertainty
Equity and commodity markets have one thing in common, each hates uncertainty, but this is what the cattle and beef markets are dealing with now. As a result, cattle and beef markets have decreased from April highs as a variety of factors weigh on markets, said Oklahoma State University Agricultural Economist Derrell Peel in a … Read More
April Beef, Pork Exports Decline
April exports of US beef and pork were lower than a year ago, according to data released by the USDA and compiled by the US Meat Export Federation. “US beef is holding its own in Japan, but the April numbers are telling,” cautioned USMEF President Dan Halstrom in a USMEF release. “With the April 1 … Read More
USDA Trims Meat, Poultry Production Forecasts
The USDA’s forecast for 2019 red meat and poultry production was reduced 61 million pounds, or 0.06%, to 104.167 billion pounds from 104.228 billion last month as lower forecasts for beef, pork and turkey production more than offset higher broiler production expectations. The new forecasts were in Tuesday’s monthly World Agricultural Supply and Demand Estimates … Read More
Corn Planting Progresses, Still Way Behind
The latest USDA National Agricultural Statistics Service data is out, and the results continue to be supportive to corn futures with only 83% of the US corn crop planted, well behind the 99% average. Some key states were notably behind. Ohio was only 50% done, Indiana was 67% planted, and Illinois was 73% sown. The … Read More
Funds Reach Lowest Net Long Cattle Position In 11 Months
Large commodity investment funds, known as managed money, reached their lowest collective net long live cattle futures position in nearly a year Tuesday as they continued to liquidate long positions. The Commodity Futures Trading Commission Friday said in its weekly Commitments of Traders report that managed money’s new net long live cattle position totaled 45,373 … Read More
Kansas Feedlot Closeouts Rebound In April
After a counter-seasonal drop in March, the number of cattle feedlots sold to packers rebounded in April, according to data collected by the Kansas State University Extension Service and compiled by the Livestock Marketing Information Center. The K-State Extension Service canvases a select group of feedlots around the state, and the LMIC then extrapolates the … Read More