Managed money, a proxy for large commodity index funds, nudged their collective net long live cattle futures positions higher during the week ended Tuesday as hedgers added a small number to their net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday, which chronicles major players’ aggregated … Read More

The USDA’s Livestock, Dairy, and Poultry Outlook this week said 2021 beef production was expected to be lower on lighter second-half carcass weights as drought continues to affect the beef industry. The 2021 beef production forecast was reduced by 33 million pounds from last month to 27.872 billion, the USDA said.   FORAGE PRODUCTION DROPPING … Read More

It looks as though demand for choice or prime beef is outstripping supply for the moment, but unless consumer demand has reached a new high, it may not last. Consumer prices are rising faster than the 2015-2019 average, making it more likely that quality-eating beef may be priced out of the budgets of many consumers … Read More

The number of cattle in Alberta and Saskatchewan, Canada, feedlots on Aug. 1 continued to decline seasonally, but at a less-than-normal rate, according to data from CanFax, a private Canadian market consulting firm. CanFax collects the data monthly but releases only the total on feed and the total monthly placements to the Denver-based Livestock Marketing … Read More

The Federal Reserve Bank said second-quarter farmland values moved higher, but there were some differences between districts.   FEDERAL RESERVE BANK OF CHICAGO   As reported by the Illinois Farm Policy News, David Oppedahl, senior business economist at the Chicago Fed, explained in the AgLetter that, At 14%, the year-over-year increase in the value of … Read More

Large commodity index funds, called managed money, increased their collective net long live cattle futures position in the week ended Tuesday as hedgers increased their collective net short position. The information came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   FUNDS TAKE LONGER CATTLE POSITION   Managed money’s new net … Read More

The USDA’s latest 2021 red meat production forecast was reduced in Thursday’s World Agricultural Supply and Demand Estimates report from last month on lighter carcass forecasts and reduced slaughter. For 2022, the red meat and poultry production forecast was reduced as lower expected beef production more than offset slightly higher pork production estimates.   2021 … Read More