Live cattle futures are telling feedlots that the market wants their finished cattle sooner rather than later, but they aren’t responding with aggressive sales. The latest USDA/National Agricultural Statistics Cattle-On-Feed report showed that daily average fed cattle marketings were up in April at a pace that goes against a seasonal flat spot. Feeders are getting … Read More
Low Beef Trimmings Prices Offer Consumers A Bargain
US beef consumers have reason to cheer this summer with the lowest ground beef prices in years. That, along with declining slaughter weights and lower per-animal beef production, could spark buying interest and turn markets higher later in the year. But for now, it looks like consumers can expect low burger prices for the grill … Read More
US Export Outlook Clouded By Rising US Dollar
The outlook for US exports is getting darker by the day as the US dollar appreciates in comparison with other currencies. Simply put, gains in the US dollar’s value make US goods and services more expensive since it takes more kropnicks, (or whatever) to buy the dollars it takes to buy US products. This is … Read More
Beef, Cattle Price Support Seen In Cold Storage Report
Beef and cattle prices could be supported in coming days and weeks by the latest USDA/National Agricultural Statistics Service Cold Storage report Monday, which showed stored beef supplies continuing to decline to their lowest point in three years. However, since declining inventories were expected widely, the bullish effect may be reduced to being only supportive. … Read More
Funds Boost Net Long Live Cattle Position
Large commodity funds, or managed money, increased their net long live cattle futures position during the week ended Tuesday to its largest in more than two months while commercial traders upped the ante on their net short positions. During the week ended Tuesday, managed money’s net long live cattle position jumped 18,856 contracts, or 83.6%, … Read More
Rising Beef Production Clouding Cattle Price Outlook
Fed cattle prices have taken a decided bounce the last two weeks, but rising beef production could prove problematic for feeders trying to get more. In fact, the bounce already is running into trouble. Since bottoming at $123.84 per cwt on a live basis the last week of April, Southern Plains slaughter cattle prices have … Read More
Cattle Basis Historically Wide; Fueling A Trend
The basis for fed steers in western Kansas is much wider than the 2010-2014 average, but a wider basis has been a trend the last few years and may continue. The basis, or the difference between cash and futures prices, last week was $9.17, $4.13, or 81.9%, above the five-year average of $5.04, according to … Read More