Overall 2016 beef export possibilities are improving as USDA Foreign Agricultural Service reports predict decreased production in several countries. However, the picture isn’t all rosy. Red meat production in Brazil was expected to increase while domestic consumption was expected to decline. FIRST, THE GOOD NEWS “US beef is poised to reclaim lost market … Read More
Lessons From The Markets
Extreme market swings of the last couple of years provided enough volatility to make many cattle producers and feeders jumpy. Prices rose to record highs and then fell into a dive the likes of which many have never seen. Factors such as cattle inventory, competing meat production, rising slaughter weights and international trade were all … Read More
Canadian Beef Cow, Heifer Numbers Up
Canadian cattle inventory numbers from Statistics Canada show the beef breeding herd increased slightly year-over-year on higher heifer retention rates. Stats Can said beef heifers kept for herd replacement purposes were up 3.95%, or 20,800 head, to 547,300 from 526,500. This was the first heifer inventory increase since 2013 when it went to 542,000 from … Read More
Hog Report Seen Neutral
The US hog market was not shocked to see the numbers in Friday’s USDA Quarterly Hogs and Pigs report. The numbers appear to be very close to industry estimates, and much of the information may already be baked into the market. The inventory of all hogs and pigs on March 1 was 67.6 million head, … Read More
Cubans Want More Chicken; U.S. Farmers Want to Send It
With all of the fanfare surrounding the historic visit of President Obama to Cuba and his meeting with President Raul Castro, a group of U.S. farmers only saw one thing: a chance to export more chicken to the island state just down the pond from Miami. U.S. Agriculture Secretary Tom Vilsack and his ag contingent … Read More
Commercials Push Short Live Cattle Positions Higher–CFTC COT
Commercials stayed on their stair-step increase for live cattle net short positions during the week ending March 15, with 78,784 net short contracts, up 13,441, or 17%, In its commitment of traders report issued Friday, the Commodity Futures Trading Commission said there were 49,609 long positions and 128,393 short positions. Long positions were down 3,332 … Read More
COF Report Shows Higher Placements May Be Bearish Trend
February placement of cattle and calves in feedlots were 10% above 2015 at 1.71 million head, signaling pressure on cash and futures even as wholesale beef prices have risen in past days on increased packer demand. The placements number is above industry estimates. A Reuters poll of 10 analysts had placements estimated at 8% over … Read More