The US beef cow herd inventory was pressured the last few years because historically low prices and drought conditions incentivized producers to sell, said Rob Ziegler, Extension specialist at the University of Wyoming, in a Livestock Marketing Information Center letter called In The Cattle Markets. Droughts in 2011-2014 and in 2021-2023, coincided with the contraction … Read More
Port Strike Could Cost Billions
The East Coast and Gulf dockworkers strike has the potential to do great harm to the US economy. Inflation could be stimulated again just when it was coming to heel, and some of the union demands could keep efficiencies from being implemented, putting US ports behind those of even some second- and third-world ports for … Read More
Managed Money Expands Net Long Cattle Position
Large commodity index funds, known as managed money, expanded their collective net long live cattle futures position in the week ended last Tuesday, Sep. 24, as hedgers took on a larger total net short position. The data came from the weekly Commitments of Traders report from the Commodity Futures Trading Commission Friday. MANAGED MONEY … Read More
Sep. 1 Hog Inventory Up From Year Earlier
The US inventory of all hogs and pigs on Sep. 1, was reported Thursday at 76.480 million head by the USDA’s National Agricultural Statistics Service. That was up 347,000, or 0.46%, from 76.133 million on Sep. 1, 2023, and up 1.269 million, or 1.69%, from 75.211 million on June 1, 2024. Of that, 6.044 million … Read More
Frozen Red Meat Stocks Decline; Poultry Supplies Mixed
Total red meat supplies in freezers Aug. 31 were down about 1% from the previous month and down about 2% from last year, according to the monthly Cold Storage report from the USDA’s Nation Agricultural Statistics Service Thursday. Total pounds of beef in freezers were down about 2% from the previous month and down slightly … Read More
Wholesale Boneless Beef Prices Declining
USDA data show wholesale boneless beef prices are declining, with the fattier product dropping faster than the leaner production. “Boneless” beef often is a euphemism for trimmings from the fed cattle slaughter process along with meat from cull cows and imported beef trimmings. The fat content is measured and traded accordingly, but the two most … Read More
Fed Steer, Beef Prices May Be Near Rebound
Fed steer and boxed beef prices could be about to rebound seasonally as consumer buying interest picks up with cooler weather. Both sets of prices declined through August as consumer buying interest faded during the hot part of the summer. Consumers also were paying down some vacation debts and spending more for back-to-school supplies and … Read More