As US President Donald Trump’s negotiators try to push through a better North American Free Trade Agreement with Canada and Mexico, US exports should be getting a boost from a weaker US dollar. The Mar contract for the ICE US dollar index, an index of the greenback’s worth calculated against a market basket of other … Read More
Funds Break Cattle Selling Trend
Large commodity investment funds, called managed money, broke their 10-week trend of being net sellers of live cattle futures and expanded their net long position during the week ended Tuesday. At the same time, commercial traders, mostly producers and, thus, hedgers, extended their net short position, breaking a two-week string of short covering. The Commodity … Read More
Per Capita Meat Disappearance Seen Rising
Per capita disappearance of beef, pork and chicken likely will increase this year as production of all three puts more meat in front of consumers, said the USDA’s Economic Research Service in its Livestock, Dairy and Poultry Outlook report for January. For 2018, the per capita quantity available to consumers was projected to be the … Read More
Total Red Meat Supplies Broadly Neutral For Cattle
Total red meat supplies in cold storage essentially were neutral to cattle prices since supplies were up from a month earlier but down from a year earlier. However, the report may be seen as somewhat bearish for hog prices as total stocks were down from Nov. 30 but up from a year earlier. Total US … Read More
Drought Conditions Expand; Key States Affected
Drought conditions in the US have expanded rapidly in recent weeks, calling into question this year’s agricultural production capabilities. The latest national Drought Monitor shows that 33% of the country is in some form of drought. Oklahoma State University agricultural economist Derrell Peel said in the Oklahoma Cooperative Extension Service “Cow/Calf Corner” that this is … Read More
Feedlot Margins Move Up: Profit Tracker
US cattle feeders made an estimated $210.53 a head on cattle sold last week, a $26.71, or $14.5%, increase from $183.82 the previous week, according to Sterling Marketing’s Beef Profit Tracker published by “Drovers” magazine. A month earlier, feeders were making an estimated $65.54 a head, while in the same week a year ago, they … Read More
Funds Again Cut Long Cattle Positions
For the 11th straight week, managed money, or large commodity investment funds, lowered their net long holdings of live cattle futures contracts, according to data from the Commodity Futures Trading Commission. The CFTC made its data for the week ended Tuesday known Friday in its weekly Commitments of Traders report. The COT report said managed … Read More