The latest report from the Purdue University/CME Group Ag Economy Barometer indicated US farmers’ inflation expectations have subsided while overall producer sentiment changed little, said Purdue Agricultural Economist James Mintert in a release. This month’s Ag Economy Barometer survey was conducted from Dec. 4 through 8. The December barometer recorded a reading of 114, just … Read More
Higher Cattle Prices Seen This Year — Sometime
The way 2023 ended points to higher prices for fed cattle in 2024, although the timing is uncertain, said a cattle specialist. The end of 2023 arrived at a time when cattle producers had a great deal to be thankful for, said Mark Johnson, Oklahoma State University Extension beef cattle breeding specialist, in a letter … Read More
Consider Technicals When Trading Cattle
There are two types of traders of any commodity or asset: speculators and hedgers. These may divide into various subtypes, but the general categories remain, as do their approaches to a market. There also are two types of trading motivators available to both types of traders. For commodity markets, these focus on fundamental aspects of … Read More
Managed Money Extends Cattle Selling Spree
Large commodity index funds, known as managed money, extended their live cattle futures selling spree to 16 weeks in the week ended last Tuesday, Dec. 26, according to data from the Commodity Futures Trading Commission. The CFTC’s weekly Commitments of Traders report Friday also reported that cattle hedgers reduced their total live cattle net short … Read More
Beef Drop Credit Sagging
The beef hide and offal value continues to decline as edible by-product values dropped faster than hides, which comprise the bulk of the total value. The hide and offal value often is called the drop credit. It is composed of the total value of all parts that “drop,” or are cut, off of the carcass, … Read More
Traders Bear Spread Hog Market Following Report
Bear spreading was the rule of the day in lean hog futures trading following Friday’s release from the USDA of its Quarterly Hogs and Pigs report. The report showed more pigs were being saved per litter and that some gilts that might have gone for breeding could instead be fed for slaughter. Negative margins have … Read More
Frozen Red Meat, Poultry Stocks Down;
Total red meat supplies in US freezers on Nov. 30 were down about 2% from the previous month and down about 11% from last year, said the USDA’s monthly Cold Storage report Friday. Total pounds of beef in freezers were up about 2% from the previous month but down about 13% from last year. Frozen … Read More