For the second straight week, large commodity investment funds, called managed money, cut their net long live cattle positions as commercial traders covered their short positions. The Commodity Futures Trading Commission Friday reported the outstanding positions of various traders as of Tuesday, revealing the latest moves of those two trader groups. Managed money’s new net … Read More
February Meat Exports About Steady; Value Dips
February US red meat exports were about steady with last year, but their values moved lower, according to USDA statistics compiled by the US Meat Export Federation. The USMEF said in a release that the lower prices reflect more abundant red meat supplies and a fiercely competitive international market. February beef and variety meat exports … Read More
Cash Cattle Steady With Weaker Outlook
Slaughter steer prices in the Southern Plains traded about steady this week at mostly $133 per cwt with some instances of $134 being paid. So far this year, cash cattle prices have held in a narrow range, shuffling between an average $139.14 per cwt on the top to $133.14 on the bottom. This flat market … Read More
Cattle Slaughter Weights Moving Up Counter-Seasonally
Steer and heifer slaughter weights are moving higher at a time when they should be moving lower, beginning the spring rise about six weeks early. Beef production, however, is holding about steady, following a seasonal pattern. The average estimated live weight of slaughter cattle last week was 1,376 pounds, up one from the previous week … Read More
Mexico, A Rising Beef Export Star
Annual Mexican beef and veal exports have grown rapidly since 2008’s 23,000 tonnes, with totals rising to more than 300,000 in 2015, making Mexico the 10th largest exporter in the world. Mexico’s beef exports exceeded Argentina for the first time in 2015, according to USDA Foreign Agricultural Service records, with the US its largest customer, … Read More
Funds End Push To Longer Live Cattle Position
Ending a five-week push to a longer live cattle net long position, large investment funds lowered their exposure during the week ended Tuesday, the Commodity Futures Trading Commission said. For the week ended Tuesday, the CFTC said Friday managed money, a proxy for those funds, lowered their net long live cattle position to 32,844 contracts … Read More
Choice/Select Beef Spread Takes Unseasonal Bounce
The spread between wholesale choice and select beef prices is widening as beef demand expands. It’s even doing so at a time when the spread normally is making its annual low. Last week’s choice/select spread widened to $10.16 from $8.78 the previous week, and the spread widened $6.00 in just three weeks. This may have … Read More