After the bull run of 2014, the cattle market is feeling “tired,” according to Rabobank’s quarterly report on the beef market. “Following the exceptional run-up in both cattle and beef prices for the year, traders are squaring positions before the holiday season, and the market is beginning to feel tired,” the report said. “Based on … Read More
Hog Supplies Could Weigh On Cattle Futures Longer Term
Live cattle and feeder cattle futures could see longer-term pressure from Tuesday’s USDA quarterly Hogs and Pigs report, which was considered somewhat bearish because it showed rising supplies to compete with high-priced beef. The lean hogs futures market hardly moved after the report was released since all figures but one were within 1% of the … Read More
Feeder Cattle Markets Smoothing, Still Bearish Near Term
Part of the quandary for traders during the five-day, limit-down drop was that futures were dropping much faster than the cash market. Yet cash also was, and is being weighed down with extra supplies coming through the auction rings, sources said. USDA data show that all weights and classes of feeder cattle and calves were … Read More
Cattle Producers Cut Short Positions
Cattle producers cut their net short positions to the lowest level in more than a year during the week ended Tuesday as managed money, swap dealers and other small speculators either cut their net long positions or took on added shorts. The Commodity Futures Trading Commission’s weekly Commitments Of Traders report, which was released Friday … Read More
Many Feeder Cattle Too High For Profitable Hedge
Despite Thursday’s reversal in live cattle futures and higher post-settlement trade, many feeder cattle prices are too high to put on feed and hedge a profit. Compared with last week, Tuesday’s Oklahoma City Stockyards sale prices for feeder steers were $10 to $15 per cwt lower as the market followed the lead of the plunging … Read More
Holiday Red Meats Demand Dropping
As the Christmas and New Year’s holidays approach, it is clear that wholesale demand for certain cuts of beef and pork is dropping. On average, the wholesale price of boneless ribeyes peaks two to three weeks ahead of the Christmas holiday as retail grocers and restaurants stop ordering holiday fare and concentrate on selling previous … Read More
Cash Feeder Market Firmer Than Futures
As the bottom drops out of the feeder cattle futures market, analysts are looking at the cash market, wondering if things in the country are as bad as they are in the city. The answer is not really. Jan feeder cattle settled Tuesday at $219.60, its fourth straight limit-down day and its lowest point since … Read More