Large commodity investment firms, known as managed money, reversed course and expanded their collective net long live cattle position during the week ended Tuesday as hedgers extended their collective net short position. The data came from the Commodity Futures Trading Commission’s Commitments of Traders report Friday.   FUNDS PUSH LONG CATTLE POSITION   By Tuesday, … Read More

Last week’s sharp drop in boxed beef values whacked 32% off estimated beef packer gross profits, but they still are thought to be making more than $300 for each fed steer slaughtered. The calculations came from the Sterling Beef Profit Tracker, out of Sterling Marketing Inc., published by Drovers. But cash cattle prices also declined … Read More

The January USDA Cattle inventory report will be especially interesting given the dynamics of 2020 and the production expectations for 2021, said Josh Maples, assistant professor and Extension economist at Mississippi State University in a letter to Extension agents through the Livestock Marketing Information Center called In The Cattle Markets.   2020 FEEDER RECEIPTS SHOWED … Read More

USDA’s estimate of US corn production for the 2020-21 crop year is unchanged from November’s at 14.507 billion bushels based on a national average yield of 175.8 bushels an acre, the USDA said in its latest Feed Outlook. The projected season average farm price for corn was unchanged at $4.00 a bushel. Estimates of sorghum, … Read More

The number of cattle populating Canada’s feedlots as of Dec. 1 was below a year ago for only the second time this year as November placements put in their seventh month of the year with lower numbers than in 2019. The data came from CanFax, a private market statistics and market advisory group.  CanFax gathers … Read More

Managed money, a moniker for large commodity index funds, trimmed their collective net long live cattle futures position for the second straight time in the week ended Tuesday, as hedgers expanded their collective net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   FUNDS TRIM CATTLE … Read More

The USDA’s monthly estimate of total 2020 red meat and poultry production was little changed from last month as forecasts for higher beef and pork production nearly offset expected lower poultry production. The new estimates came in the USDA’s monthly World Agriculture Supply and Demand Estimates report Thursday. The new estimate for 2021 red meat … Read More