Managed money, a term for large investment funds, reduced its net long live cattle position during the week ended Tuesday for the second straight week as commercial traders increased their net short position slightly. The Commodity Futures Trading Commission Friday reported that for its latest reporting week ended Tuesday, that managed money cut its net … Read More
Cattle Futures Have Short-Term Support
Jun live cattle futures Thursday shot higher, extending gains from Wednesday’s sharp rally as technical buying points were triggered, but fundamental support is thin, and the rally may not last. Such technical rallies have a way of running out of gas quickly, and the fundamentals that started this week’s rally may be thwarted by hedge … Read More
Bullish Beef Prices Unlikely
Contrary to average trends, choice wholesale beef prices are not likely to move slowly and unevenly higher for the rest of the year. There is too much production coming and too much competition from other meats for that to happen. Some market analysts have said beef prices were near an annual low, and if beef … Read More
Feedlots Likely Working Down Front-Loaded Inventories
It appears that US feedlots are working down their unusually large inventory of heavy fed cattle. The latest USDA Cattle-On-Feed report showed cattle placed on feed still are biased toward the heavy side so average slaughter weights in coming months likely will be heavier than normal, according to USDA data. But cattle slaughter is up … Read More
Chicken Competing Hard For Beef Business
Many long-term students of retail meat and poultry prices and consumption feel that pork does not compete with beef at the retail counter as well as chicken. That seems like heresy to some, but many analysts swear it’s true, so it pays to take a look at the feathered version of the meat counter now … Read More
Funds Cut Long Cattle Positions
Managed money, a term for large investment funds, reduced their net long position in live cattle futures during the week ended Tuesday, taking it to its lowest since the week ended March 1. The Commodity Futures Trading Commission Friday reported that for the week, managed money reduced its net long live cattle position to 23,537 … Read More
Exports Key To US Pork, Poultry Outlooks
As cattle feeders struggle to maintain some semblance of profitability and cow/calf producers continue to build their cow herds, competing meat availability remains a constant concern. In both cases, export markets are key to lively markets and the reduction in the availability of competing meats in the US. Disease remains an issue with pork and … Read More