In looking for an advance hint that wholesale beef prices are set to bounce and lead the beef and cattle industry into a seasonal rally, little can be gleaned by checking out the action of individual cuts. Some may be turning up, but there is little consistency. All cuts examined were above the average of … Read More
Seasonal Cash Cattle Slide May Be Near End
The summer slide in beef cattle prices may be over unless more cattle come to market than many traders expect as wholesale beef prices turn upward this week and light the fuse on futures markets. Fed cattle traded $3 per cwt lower on a live basis last week in the Plains with the five-area USDA … Read More
Pasture, Range Conditions Still Above 2014
Overall US pasture and range conditions are well above a year ago, but ratings declined slightly last week, beginning a seasonal slide in forage quality and quantity. Thanks to a strong El Nino, grasslands east of the Rocky Mountains are much improved from last year, according to the USDA’s National Agricultural Statistics Service. Monday, the … Read More
Funds Continue Selling Long Cattle Positions
Large managed investment funds continued to sell long live cattle positions in the week ended Tuesday, taking them to their lowest net long position in more than a year. The Commodity Futures Trading Commission reported in its weekly Commitments of Traders report Friday for the week ended Tuesday that commercial traders, those who can make … Read More
Feeders Seen On Weaker Path
Cash feeder cattle prices appear to be on a weaker path even though hot summer temperatures curtail receipts at many locations. The CME Feeder Cattle Index for the seven days ended Wednesday was $216.81 per cwt, down $0.33 from $217.14 on Tuesday. It also is down from $222.92 a week ago. On a weekly basis, … Read More
Cold Storage Report Thought Slightly Bearish
USDA’s monthly Cold Storage report Thursday was considered neutral to bearish for beef as it stoked the fires of market concerns about beef demand. It might have been more bearish if such fears were not already pressuring cattle prices. The report showed total pounds of beef in freezers, at 467.136 million pounds, were down 9.165 … Read More
Beef Exports Lose Traction
US beef and beef variety meat exports lost traction in May, with volume and value falling below year-earlier levels, according to USDA data compiled by the US Meat Export Federation. Year-to-date export values, at $2.68 billion, continue to edge last year’s $2.64 billion by about 2%. However, the 2015 5-month total volume of 430,393 tonnes … Read More