This month’s USDA Cold Storage report likely will be considered neutral by livestock futures traders since beef and pork supplies were in line with expectations. Total red meat supplies in US freezers on April 30 were up 4% from a month earlier but were down 4% from a year earlier. Total pounds of beef on … Read More
Funds Boost Long Cattle Holdings
Large investment funds, called managed money, increased their net long live cattle futures position during the week ended Tuesday as commercial traders extended their net short position, said the Commodity Futures Trading Commission. The CFTC revealed the numbers in its weekly Commitments of Traders report Friday and said managed money had a net long cattle … Read More
Cattle Support May Be Softening
One of the only legs left for the cattle market to stand on appears to be softening. The other one may not have the strength to provide the necessary lift to reverse what appears to be a trend. First, it was the futures market that gave the first hints that cattle prices lacked the backbone … Read More
Shipper Moves Threaten Easy US Ag Exports
US agricultural exports could be running into trouble as moves by international shipping companies to consolidate and cut costs threatens access to world markets. The Wall Street Journal reports that a strong greenback is making it tougher for US farmers to compete in export markets. No news there, but the fact is being compounded by … Read More
Hog Prices Seen Working Higher
In what is perhaps a boost for cattle producers, a well-known hog market economist is predicting a continued rise in hog prices for at least the next few weeks, albeit at a slower pace. Ron Plain, agricultural economist at the University of Missouri, said in an article for the National Hog Farmer the pace of … Read More
Corn, Hay Costs Could Rise
The good news is there will be ample supplies of corn and hay for cattle producers, the bad news is these stocks likely will cost a little more this year. USDA National Agricultural Statistics Service data show expectations of a national average corn yield of 168.5 bushels per acre, down 6.8, or 3.88%, from last … Read More
Funds Cut Long Cattle Positions
Large investment funds, called managed money, cut their net long live cattle futures position for the second straight time during the week ended Tuesday as commercial traders only trimmed their large net short position. The Commodity Futures Trading Commission, said in its weekly Commitments of Traders Report Friday that managed money’s new net long position … Read More