Feeder cattle prices have come off their record highs in a seasonal dip, inviting purchase from cattle feeders who hope to profit from their resale as fat cattle in coming months. There are times when such investments yield a prospective profit, but such is not always the case, and buyers need to be careful. Feeder … Read More
Pork Production Seen Overtaking Beef
As the US beef industry sets out to rebuild its herd from a 63-year low, pork production could overtake beef production by 2016 – or sooner, according to some estimates. USDA’s National Agricultural Statistics Service predicts 2014 beef production at 24.5 billion pounds, compared with pork production of 22.9 billion. Beef production in 2015 is … Read More
Choice/Select Spread Widest Of 2014
The choice/select spread widened the last two weeks to its highest point of the year as choice production declines and choice demand heats up seasonally. The spread narrowed counter-seasonally in late September and early October. The spread, as charted by the Livestock Marketing Information Center, shows a strong tendency to rise from mid-August to late … Read More
Feedlot Positions Improve
Things are getting better for cattle feedlots. The difference between what they pay for feeder cattle is declining, while the price they receive for fat cattle is increasing. A graph of the price differences between 700- to 800-pound feeder steers in the Southern Plains and the price received for slaughter steers in the same area … Read More
Managed Money Holds Net Cattle Position Steady
Managed money held its long live cattle futures position nearly flat in the week ended Tuesday while Dec futures moved higher and total open interest declined. The Commodity Futures Trading Commission Friday reported that for the latest reporting week, managed money’s net long position was 109,318 contracts, down only 834 contracts from 110,152 a week … Read More
September Red Meat Production Up Slightly
The USDA Thursday reported total US commercial red meat production in September of 3.96 billion pounds, up 1% from 3.94 billion produced in September 2013, with the gains coming from pork and from lamb and mutton production. Monthly beef production remained below a year ago by the thinnest margin this year. September beef production was … Read More
US Feeder Cattle Imports Up
US feeder cattle imports from Canada and Mexico are up from a year ago in an effort to feed hungry US feedlots, USDA figures show. Year-to-date feeder cattle imports from Mexico, consisting of steers and spayed heifers, through the week ended Friday, is 732,003 head, up 97,851 head, or 15.4%, from 634,152 head in the … Read More