Besides painting a bearish picture for grains and soybeans, this month’s World Agricultural Supply and Demand Estimates report pointed to increased total 2014 meat and poultry production. Increased feed production, and the lower prices that are expected to result, encourage producers to raise cattle, hogs and chickens to heavier weights, resulting in more meat production. … Read More
Some Feeder Cattle Prices Slip With Fed Cattle
As fed cattle prices in the Plains slip away from record highs, prices for several weight ranges of feeder cattle continue to mark new tops. In general, feeder steers weighing 400 to 600 pounds are in demand by feedlots while the heavier weights, those weighing 700 to 800 pounds, fade from popularity. USDA figures of … Read More
Managed Money Warms To Cattle
Managed money got back into live cattle in a big way during the latest reporting week, according to the Commodity Futures Trading Commission’s weekly Commitment Of Traders Report. The net long position of managed money rose 14,327 contracts, or 14.0%, to 116,714 from 102,387 in the week ended Tuesday. At the same time, the net … Read More
Cash Cattle Lower; Working On Seasonal Top
Cash cattle prices this week are lower as the market works in a seasonal top, even though longer-term projections indicate fall prices could work to new record highs. Live cattle in the Plains Thursday traded at $161 per cwt in Texas, down $2 from last week, and there were rumors of even lower trades later … Read More
Russia Sanctions Worth It, Leaders Say
Russia’s announced ban on fruit, vegetables, meat, fish, milk and dairy products from nations imposing sanctions on Moscow for its support of pro-Russian rebels in Crimea and eastern Ukraine will harm the economies of affected nations, most notably Europe, but leaders say it’s worth the price. After tightening the sanctions screws a little more after … Read More
Larger Cattle Slaughter May Stay Below Year Ago, Average
If cattle slaughter rises in the short term as many expect, the kill may still remain below last year and the five-year average, even if it reaches its highest weekly rate for 2014. USDA data show estimated total weekly slaughter last week at 574,000 head. This is 0.53% more than the previous weekly kill of … Read More
Q1 Placements Appear To Be A Month Late
First-quarter feedlot placements that were supposed to swell the ranks of summer marketings for slaughter may just now be filling that role – a month later than expected, and last week’s price dip may be followed by a few more until supplies tighten again in the fall. Kansas State University feedlot data show steers are … Read More