The USDA adjusted its red meat and poultry supply and use estimates for 2023 to reflect December production, ending stocks and trade data. All production and per-capita consumption estimates were adjusted downward slightly. The new figures were released in its monthly World Agricultural Supply and Demand Estimates report Thursday. BEEF PRODUCTION SEEN LOWER … Read More
Herd Rebuilding To Tighten Feeder, Packer Margins
Weather and pastures permitting, cow/calf producers this year are expected to begin the slow process of reversing course and rebuilding the US cattle herd. Market analysts agree the changeover will be slow as producers weigh the prospect of higher returns down the road for income from immediate sales of heifers. Feedlots also will have a … Read More
Basis Precludes Cattle Deliveries
It looks like things will have to change before there can be significant numbers of live cattle deliveries this month. A look at basis calculations from the Livestock Marketing Information Center in Denver shows that the basis, the result of cash markets minus the futures delivery month price, is too narrow to make delivering on … Read More
The Cattle Market Cycle – How Long Will These Prices Last?
There is little indication currently of a rising cow inventory in the near future, said Mark Johnson, Oklahoma State University Extension beef cattle breeding specialist, a letter called Cow-Calf Corner. There also is the potential for good profits for cow/calf producers in the short term, he said. The current cattle cycle, the multi-year pattern of … Read More
Managed Money Buys More Cattle Futures
Large commodity index funds, known as managed money, continued extending their collective net long live cattle futures position in the week ended Tuesday, almost doubling their position. At the same time, cattle owners, known as commercial traders, extended their total net short live cattle position. The data came from the weekly Commitments of Traders report … Read More
Beef Imports Elevated As Cow Slaughter Slips
US beef imports are liable to remain elevated this year as cow slaughter slips. The latest USDA World Agricultural Supply and Demand Estimates report Jan. 12 had 2023 beef imports projected to end up at 3.708 million pounds, up 318,000, or 9.38%, from 2022’s 3.390 million. BEEF COW SLAUGHTER STILL ACTIVE USDA statistics … Read More
US Cattle Herd Confirmed Smaller
All cattle and calves in the US as of Jan. 1 totaled 87.157 million head, 1.684 million, or 1.90%, fewer than the 88.841 million on Jan. 1, 2023, the USDA said Wednesday in its semi-annual Cattle (Inventory) report. Totals listed were not a big surprise to cattle owners, traders and analysts. Anecdotal reports indicated that … Read More