While a few areas of the contiguous 48 states received large rain totals last week, most of the country got only light rainfall, according to Thursday’s weekly drought monitor from the National Weather Service. Plus, Kansas, Nebraska, portions of central and western Texas and Oklahoma remained entrenched in extreme drought conditions, putting large swaths of … Read More

Growth in farm lending activity at commercial banks was limited in the first quarter of 2023 as interest rates climbed, said Kansas City Federal Reserve Bank Economists Nate Kauffman and Ty Kreitman, in a Bank release. However, farm lending growth was limited as interest rates climbed, Kauffman and Kreitman said.   THE PROBLEM WITH INTEREST … Read More

Rising fed cattle prices are leading the cattle complex higher, said Oklahoma State University Extension Livestock Marketing Specialist Derrell Peel, in a letter to Extension Agents called Cow-Calf Corner. The daily 5-Market negotiated cash fed cattle price reported on Thursday by the USDA Agricultural Marketing Service, was $172.33 per cwt, a record high daily fed … Read More

April 1 Canadian cattle on feed were down counter-seasonally from March, extending a 2023 decline. The data came from CanFax, a private market advisory group, which surveys feedlots monthly in Alberta and Saskatchewan.  It shares all of its survey results with its members but shares the total on feed and monthly placement numbers with the … Read More

Large commodity investment firms, known as managed money, increased their collective net long live cattle futures position during the week ended Tuesday, while hedgers boosted their total net short position. The raw data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   FUNDS BUY LIVE CATTLE   As of Tuesday, … Read More

The USDA’s outlook for 2023 global meat trade is mixed, said the USDA’s Livestock and Poultry World Markets and Trade report this week. Only chicken meat was forecast to make gains while beef was virtually unchanged and pork fell for the second straight year.   BRAZIL GAINS   Brazil exports of beef, pork and chicken … Read More

Since the Federal Open Market Committee began tightening monetary policy in March 2022, interest rates have risen, resulting in higher borrowing costs and reducing the value of commercial bank’s securities investments, said Blake Marsh and Brendan Laliberte, economists at the Federal Reserve Bank of Kansas City, in a release. “After amassing securities during the pandemic, … Read More