As index funds fret about declining crude oil prices, the economic effect it might have and how that plays into their index calculations, live cattle present a possible bright spot for 2015 portfolios. Rabobank said Tuesday that live cattle are poised for further gains next year to record-highs. Soybean futures were set to take the … Read More
Beef Demand Gains May Limit Seasonal Price Pressure
After the Thanksgiving Day holiday, beef consumption usually takes a header, and many expect demand for holiday items like ribs and loins to pressure the market again this year. However, the overall decline in the carcass cutout value may be limited. Gains in demand for other cuts often overpower losses in the holiday items, which … Read More
Asian Markets Sag On China PMI News
Most Asian markets were lower overnight after China’s official Purchasing Managers’ Index fell to 50.3 in November from October’s 50.8 and close to a “flash” PMI by HSBC/Markit two weeks ago of 50.0, further proof the economy is losing traction and below market expectations of a 5.6 reading. A 50.0 PMI Index is the dividing … Read More
Fed Cattle May Be Backing UP
Fed cattle appear to be backing up in the feedlots. While packers paid nearly steady prices this week, they did so on very light volume, and carcass weights continue to rise. Cattle traded lightly in the Southern Plains Wednesday at a steady $172 to $173 per cwt on a live basis. On a dressed basis, … Read More
Beef Prices Nearing Seasonal Top
Seasonally, beef prices are about to weaken as rib markets turn south after holiday demand is met. Overall prices are unlikely to tumble hard, however, as demand for more mundane cuts, like roasts, expands to fill some of the gap. Weekly wholesale prices for boneless, light beef ribeyes last week shot to their highest point … Read More
Managed Money Boosts Long Cattle Position As Prices Rise
Managed money boosted its live cattle long positions during the latest reporting week ended Nov. 11 while futures prices rose from a nearby swing low. The Commodity Futures Trading Commission Friday reported that managed money, a proxy for large speculators, raised its net long position to 110,326 contracts from 104,391 the week before, a gain … Read More
On-Feed Report Seen Nearly Flat
The US Department of Agriculture is scheduled to release its monthly Cattle-On-Feed report today, and traders expect the number of cattle populating US feed yards to be nearly flat with a year ago and up from October. Analysts surveyed by Reuters said they expected the report to show 10.564 million head munching feed as of … Read More