US feedlot inventories likely are not at a peak just yet, said Oklahoma State University Agricultural Economist Derrell Peel in a letter to Extension agents called Cow/Calf Corner. There have been some market disruptions that likely delayed, and will delay, calves and yearlings from being placed, Peel said.   TOTAL ON-FEED NUMBERS DIP   The … Read More

Monday’s monthly USDA Cold Storage report could be seen as supportive for beef and fed cattle markets as frozen beef supplies as of Aug. 31 were down from last year, a market analyst said. However, pork inventories rose from the 2018 report, which, given the international trade issues currently facing the industry, could be seen … Read More

Live cattle open interest declined sharply during the week ended Tuesday while live cattle futures prices were moving higher, showing the rally in futures was driven mostly by short covering, market analysis showed. CME Group data showed total live cattle open interest as of Tuesday was 335,533 contracts, down 21,109, or 5.92%, from 356,642 the … Read More

Last year, China replaced the US as the leading beef importer, said Derrell Peel, Oklahoma State University agricultural economist in a letter to Extension agents called Cow/Calf Corner, who added that if Hong Kong is included, total China/Hong Kong imports were larger than the US beginning in 2017. World beef imports increased 17.7% from 2015 … Read More

The Federal Reserve’s Beige Book last week said total direct payments to farmers was expected to increase this year. Subsequent to the Beige Book’s release, the Bank released a summary of agricultural conditions by district.  This is a version of that release, edited for length and style.   SIXTH DISTRICT – ATLANTA   Much of … Read More

A Beef magazine article Tuesday wondered if the cash fed cattle market hadn’t hit a seasonal bottom, stemming the flow of cash from feedlot pockets.  The answer from a historical perspective is a strong maybe. The Livestock Marketing Information Center in Denver, CO, keeps tabs on weekly slaughter steer prices in the Southern Plains.  According … Read More

The Kansas State University mid-month slaughter steer basis forecast for western Kansas predicts a widening basis into October from mid-month September to slightly more than $2 per cwt, followed by a decline into November to just above zero. K-State agricultural economists graphed their latest predictions of western Kansas slaughter cattle basis through February of 2021 … Read More