Large commodity funds boosted their net long live cattle position in the week ended Tuesday, Jan. 12, to its highest level since the week ended July 28, even though futures peaked and turned lower. As of a week ago, managed money, or the funds, had a net long position of 23,059 contracts, up 3,270, or … Read More
Cutout Values Drop Further In December
Even though beef cutout values seemed to rise in December, a look back at values in previous months tells a different story and shows why packer buyers were reluctant cattle buyers. A Livestock Marketing Information Center graph clearly shows the decline. All quality grades showed a clear decline from August through December, although branded and choice … Read More
Branded Beef Increasingly Demanded
As a growing number of consumers shy away from products containing ingredients they can’t pronounce and increasingly opt for products that are grown or produced locally, branded beef products play well. Those consumers want to know where their meat comes from, and the best way to handle that demand is for more producers within the … Read More
USDA Trims 2015 Total Meat Estimate Slightly
The USDA Tuesday trimmed its estimate of 2015 total meat production from its November estimate as lower pork, broiler and turkey production more than offset an increase in beef production estimates. In its monthly World Supply and Demand Estimates report, the 2015 meat production forecast was reduced to 48.420 billion pounds from 48.424 billion in … Read More
Large Domestic Supply Of Meat, Poultry
US meat markets dealt with rising supplies last year, and calculations show that a large part of fourth-quarter price pressure was the result of these large supplies. Official fourth-quarter 2015 numbers aren’t in yet, but calculations by the Livestock Marketing Information Center show the supply facing the US market is likely to be up about … Read More
Funds’ Cattle Commitments Largest In Nearly Six Months
Large commodity funds, known collectively as managed money, boosted their net long cattle position to its largest in nearly six months during the week ended Tuesday. The Commodity Futures Trading Commission Friday reported managed money’s new net long position as of Tuesday was 19,789 contracts, the largest since the week ended Aug. 18. It also … Read More
November Beef Exports Rise Counter-Seasonally
US beef and veal exports rose in November, a counter-seasonal move that gets product exports back near the 2009-2013 average. Beef and veal exports in November rose to 202.2 million pounds on a carcass weight basis from October’s 194.9 million, a gain of 7.3 million pounds, or 3.75%. Normally, beef and veal exports decline in … Read More