Managed money, or large speculators, liquidated almost all of their net long live cattle futures position during the week ended Tuesday Oct. 15 even though futures were rising sharply. The Commodity Futures Trading Commission said in its weekly Commitments of Traders report that managed money Tuesday had only 1,209 net long live cattle futures positions, … Read More
Cattle Feeders May See Warmer, Wetter Winter
It looks like the major cattle-feeding regions of the US will see warmer-than-normal temperatures and more precipitation than normal. The National Oceanic and Atmospheric Administration’s US Winter Outlook also said drought-stricken California and the Sierra Madres have an even greater chance of warm temperatures and an equal chance of being wetter than normal. This year’s … Read More
Feeders Clearing Plus-Size Cattle?
There are signs the glut of plus-sized fed cattle is getting cleared up, but the next few weeks will show whether these signals are temporary or more permanent. Cash fed cattle prices made a significant turnaround last week, and those who chart cash prices might have noticed the turnaround left a one-week island reversal higher … Read More
Heavier Seasonal Beef Demand Seen In Daily Data
Beef demand, it seems, really is rising, as evidenced by USDA data on many of the various cuts. What’s more, demand for choice product is outstripping demand for select grade in a seasonal push for holiday fare. However, that demand for the fattier and generally better-tasting choice beef appears to have started within the last … Read More
Feeder Steer Prices Working Lower
Feeder steer prices continue to work unevenly lower, the latest bump notwithstanding, as continued heavy losses by cattle feeders encourage a more muted sense of need by those who feed cattle for slaughter. The CME Cattle Feeding Index, a weighted average value for feeder cattle in several markets, declined $0.29 per cwt Monday after a … Read More
Higher Production Estimates Could Pressure Cattle, Hogs
The USDA Friday increased its forecast for total 2015 and 2016 meat production from its previous estimate a month ago, a move that may pressure cattle and hog prices this week. In its monthly World Agricultural Supply and Demand Estimates report, the USDA’s beef production estimate for this year was raised to 23.794 billion pounds … Read More
Beef Demand Building In Holiday Cuts
Low wholesale prices for beef and seasonal consumer preferences appear to be showing up in this week’s beef price quotes from the USDA, but such gains are not readily apparent. Seasonal demand for certain cuts is bloating their prices at the wholesale level while leaving the seasonally less-desirable cuts languishing. This is helping to support … Read More