Perhaps it’s just “that time” for feeder cattle to come to market in larger numbers, but declining grazing options may have just as much to do with decisions to sell feeders. Monday’s USDA National Agricultural Statistics Service weekly crop conditions report showed a decline in pasture conditions and a lag in winter wheat planting and … Read More
Managed Money Cuts Net Cattle Longs 51.8%
Managed money, or large fund traders cut their net long positions in live cattle futures by 5,382 contracts, or 51.8%, to 5,001 from 10,383 the previous week for the fifth straight weekly decline as futures dropped to contract lows. The Commodity Futures Trading Commission made the revelation Friday in its Commitments-of-Traders report for the week … Read More
Cattle Feeding Margins Heading South
Calculated feedlot margins are dismal and set to get worse before they get better. Average margins dropped $52.44 a head last week for unhedged cattle, and with cash cattle prices dropping $5 to $10 per cwt this week, feeding returns are sure to get worse this week. The Sterling Beef Profit Tracker from Sterling Marketing … Read More
Feed Yards Front-End Loaded
US feed yards are front-end loaded, and it will take several weeks to clear the air, contrary to many who say it will be cleared up in just a few weeks. The September USDA Cattle-on-Feed report showed the industry has begun to work this supply of well- to overly fed cattle down. Of the 9.986 … Read More
Frozen Meat Stores Climbing
Cattle and hog futures prices were expected to remain soft today, a continuation of late-day action Tuesday after the USDA’s monthly Cold Storage report revealed total US frozen red meat supplies on Aug. 31 were up 3% from July and up 26% from last year. Month-to-month poultry supplies were down slightly, but stocks were up … Read More
Pork, Chicken Prices Choke Beef Demand
The volume of competing meats continues to keep a lid on cattle and beef markets as wholesale pork and chicken prices keep undercutting beef prices and attracting buyers. Domestic and export beef demand is suffering as a result. Dressed cash hog prices last week were quoted at $68.75 per cwt, about 25% below last year. … Read More
Managed Money Cuts Long Cattle Position
Managed money, a term for investment funds, cut its net long position for live cattle futures to its lowest level in more than a year, which may have contributed to the demise of the latest rally attempt. The Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday for the week ended Tuesday said managed … Read More