Managed money funds cut their net long positions in live cattle futures during the week ended Tuesday to 84,565 contracts, taking them to their lowest position since the week ended May 5 when it was 79,351. At the same time, commercial traders, those who handle the actual cattle at some point, covered a net 7,389 … Read More
Laying Hen Housing Study Reveals Tradeoffs
As egg producers search for ways to comply with California’s new rules on space for laying hens requiring that a laying hen be able to stretch her wings fully, a new study of different types of housing reveal the tradeoffs. Temple Grandin, professor of agricultural economics at Colorado State University, reviewed the results of the … Read More
Pasture Condition Much Better Than Normal
It’s little wonder that cattle producers across the country are increasing their herd sizes and keeping calves on pasture longer before selling them to the feedlots. Thanks to this year’s renewed rainfall, ranges and pasture are in the best shape in years. But that’s about to change. Seasonally, some grasses wither in the heat of … Read More
Estimated Packer Margins Up; Feedlots Not So Much
Estimated beef packer margins rose $51.36 a head last week as lower fed cattle prices and higher beef prices combined to help their bottom lines. Feedlot margins also improved, but remain very much in the red. The Sterling Beef Profit Tracker, calculated by Sterling Marketing and published by Ag Web, estimated unhedged feedlot margins at … Read More
Cold Storage Report Slightly Bearish
The USDA’s Cold Storage report Monday was considered slightly bearish for beef, pork and chicken markets as it showed more of all three on ice than a year ago, but less than a month ago. The monthly decline of beef and pork in cold storage is seasonal and is holding the lines evenly above last … Read More
Managed Money Cuts Long Cattle Positions
Managed money cut its net long cattle positions and now has the lowest net long position in five weeks as nearby futures peaked and then fell away. The Commodity Futures Trading Commission’s Commitments of Traders report for the week ended June 16 showed that Managed Money cut its net long cattle position to 87,966 contracts … Read More
Wholesale Beef Defies Seasonal, Turns Higher
Wholesale US beef prices headed higher this week turning against a seasonal trend but with much more volatility. USDA data on the choice boxed beef cutout value show that prices rose every day since Friday’s low of $245.72 per cwt. The value Thursday had risen $5.11, or 11.2% to $250.83. The spread between choice and … Read More