The CME Feeder Cattle Index has fallen below last year but remains well above the five-year average as the index this year trades on a flatter plain than last year. More calves are coming to the auction barns and more are expected through the fall as they are weaned and/or removed from seasonally fading pastures. … Read More
Cattle Market Direction Confusing
As cattle traders seek direction in a confusing market, nothing seems to fill the bill. Fundamental indicators aren’t performing as they should, and charts aren’t any better at providing clarity. What’s a trader to do? For the last month, the Oct futures contract’s price and open interest basically have been moving sideways, which doesn’t help. … Read More
Managed Money Nudges Cattle Position Higher
Managed money, or large fund speculators, increased their net long live cattle positions during the week ended Tuesday as commercial traders grew their net short level more substantially. The Commodity Futures Trading Commission Friday said that for the week ended Tuesday managed money raised its net long cattle position to 19,820 contracts from 18,387 the … Read More
Cash Cattle Prices Could Wane With Supply Boost
The Southern Plains feeder cattle market is holding within a narrow range, but is expected to wane as spring calves begin coming to market over the next several months. However, Andrew Griffith, extension agricultural economist at the University of Tennessee, said the feeder cattle market is getting some support in the form of rising wholesale … Read More
USDA Lowers Total Meat Production Forecast
The USDA Wednesday lowered its forecast for total meat production for this year and next, saying beef and chicken production will decline while pork holds steady. In its monthly World Agricultural Supply and Demand Estimates, USDA economists said 2015 and 2016 beef production would be lower than its July forecast because of a combination of … Read More
Grasslands Allow Extended Grazing
US range and pasture conditions remain well above last year and the previous five-year average, allowing cattle producers to keep cattle on grass longer than in many previous years. Chris Reinhardt, extension feedlot specialist at Kansas State University, said some grass types “mature by the calendar” and the grazing season cannot be extended. However, other … Read More
Beef Prices Appear To Be Making Seasonal Turn
Traders are watching beef prices for signs of a seasonal turn higher, and they may have gotten their wish with last week’s bounce in the USDA’s weekly cutout value. The USDA reported its value for choice 600- to 900-pound beef carcasses last week at $234.84 per cwt, up $2.12, or 0.91%, from $232.73 a week … Read More