As the first Polar Vortex of the season slides into the central US dumping more than a foot of snow on parts of Montana, Wyoming, Colorado, the Dakotas and Minnesota, cattle market concerns will go to how well the cattle fared with this icy blast. Only the Southwest, Hawaii, Alaska and South Florida will escape … Read More
Large Traders Hold Net Positions Near Steady
Managed money held its net live cattle long position near steady during the week ended Tuesday, even though the nearby futures contract left a gap lower on daily charts because of the transition from the Oct to the Dec contract. The Commodity Futures Trading Commission reported Friday that for the latest reporting week, managed money … Read More
Cattle Slaughter Headed For Seasonal Weekly Boost
Right on schedule, federally inspected cattle slaughter this week is headed for an increase. Through Thursday, the USDA reported an estimated 445,000 head had met their destiny this week, up 6,000, or 1.37%, from last week. However, it remains 6.71% below last year’s 477,000. It’s likely to remain below last year, too. Previous placements of … Read More
Studies Suggest Fed Cattle Peak By Spring
Prices for slaughter-ready cattle dipped last week, but long-term studies of the relationship between the cattle cycle and fed cattle prices indicates the peak could come in the next six months. Purdue University Extension Economist Chris Hurt says studies of cattle cycles and prices suggest that prices tend to hit their peak in the early … Read More
Strong Dollar Has Little Effect On US Meat Exports
The US Dollar Index has been rising since July 1, with the exception of a downturn late September/early October, yet the effect on meat exports appears to be nil. The greenback took another bounce after Tuesday’s elections. Normally, if the currency of a selling country rises, it makes its exports more expensive to foreign buyers. … Read More
Calf Demand Mixed; Yearlings Firm
Northern Plains calves last week sold mostly $5 to $8 per cwt lower while calves in the Southern Plains and the Southeast were unevenly steady to $5 higher amid strong demand for wheat grazers. Yearling supplies are said to be tight across the country with prices steady to firm. Sources say yearlings hold good demand … Read More
Managed Money, Producers Lose Confidence In Cattle
Managed money and producers both appeared to lose confidence in the cattle market’s ability to transcend $170-per-cwt resistance for long as both got slightly shorter in the latest reporting week. The Commodity Futures Trading Commission Friday reported that for the week ended Tuesday, managed money, a proxy for large speculators, reduced its net long position … Read More