Packer margins further into positive territory week, while feedlot margins continued to sink, falling to a loss of more than $200 a head. The weekly Sterling Beef Profit Tracker published by AgWeb said packers last week cleared about $64.79 a head, a jump from a positive $28.41 the previous week. However, a month ago, packers … Read More
Cattle Traders See Steady-Higher Cash Prices
Cattle traders’ ideas of what the cash fed cattle market will do this week have gone from lower, to steady/weak to no worse than steady as slaughter rates remained strong for a second week. Cumulative slaughter through Tuesday was estimated at 220,000 head, the same as last week but behind last year’s 235,000. Last week … Read More
Pork, Chicken Production, Consumption Seen Rising
Annual pork and chicken production are expected to rise this year, and the lower prices the extra production is likely to bring will increase per capita consumption, but the lower prices also are expected to curb production next year. Per capita disappearance, often called consumption, for pork is expected to decline to historically normal levels, … Read More
Managed Money Cuts Cattle Position
Managed money last week reduced its net long live cattle position 2.19% to 71,982 contracts from 73,593 the previous week as futures prices attempted to rally but fell to a double bottom near $155.10 per cwt. The Commodity Futures Trading Commission released the data Friday for the week ended Tuesday and said the drop in … Read More
Feed Prices Could Hold In Range
If all goes according to predictions and the weather cooperates, corn prices for cattle feeders, hog producers and poultry integrators will rock along in a narrow range until harvest. At that time, prices will be more volatile, but still should average near current levels. Last week’s Omaha corn price of $3.71 a bushel was down … Read More
Cold Storage Shows Chicken Could Pressure Red Meat
The USDA’s monthly Cold Storage report Thursday showed the amount of red meat in cold storage went down last month as pork and beef tonnage fell, although the total remains well above last year and the previous five-year average. The Storage report is less of a market influence than other reports, and market analysts said … Read More
Slaughter Cattle Prices Into Seasonal Slide
Slaughter steer prices are headed lower, having begun a seasonal slide two weeks ago that usually lasts into late July or early August. Average southern Plains slaughter cattle prices last week dipped $2.13 per cwt, or 1.31%, to $160.87 from $163 the previous week. The market peaked the last week of March at $166.99. USDA … Read More