Federally inspected cattle slaughter is rising seasonally but remains below last year and the previous five-year average, implying more beef will be available for the market for the next few weeks. As calves that were placed into feedlots last fall become ready for slaughter, the slaughter rate goes up, only to peak in late June. … Read More
Managed Money Goes Long Cattle
Managed money, or large speculators, went long cattle during the week ended Tuesday as nearby futures prices moved sideways and total open interest rose. The Commodity Futures Trading Commission said in its latest report for the week ended Tuesday that managed money boosted its net long position to 84,797 contracts from 79,351 the previous week, … Read More
Pasture, Range Conditions Much Improved
Overall US pasture and range conditions have begun the year in better condition than they were at this time a year ago with the noted exception of California. Pasture and range conditions in the weekly National Agricultural Statistics Service crop updates are a good indicator of soil moisture and crop health in general. Although the … Read More
Cattle Feeders Still Losing Money
Unhedged cattle feeders continued to lose money on every animal sold for slaughter last week, although they did make up some ground, according to the Sterling Beef Profit Tracker. The calculations by Sterling Marketing, Vale, Ore., and published by AgWeb, estimated that cattle feeders lost $171.92 a head on the cattle sold last week, using … Read More
USDA Sees Total 2016 Red Meat, Poultry Production Up
Total 2016 red meat and poultry production was projected to be above 2015, with beef production showing gains as the herd rebuilds and feedlots begin placing more cattle on feed. The USDA made that prediction in Tuesday’s monthly World Agricultural Supply and Demand Estimates report. It went on to say marketings of fed cattle to … Read More
Cash Cattle Prices At A Crossroads
Cash cattle prices this week appear to be at a crossroads. Prices have a strong seasonal tendency to fade from early April into late July, but price gains the last two weeks put this trend in jeopardy. If prices gain again this week, it’s possible the seasonal trend could be put off or even be … Read More
Managed Money Boosts Net Long Cattle Position
Managed money, or large investors, increased its net long live cattle futures position during the week ended Tuesday, even though the nearby Jun contract moved sideways. The Commodity Futures Trading Commission’s weekly Commitments of Traders report showed managed money increasing its net long position by 8,259 contracts, or 11.7%, to 79,351 from 71,092 the previous … Read More