On Wednesday, the Federal Reserve Board released its May 2018 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. Keith Good of the “Illinois Farm Policy News” said the report included several observations pertaining to the US agricultural economy.  This is a summary of those comments by district.   … Read More

It’s no surprise to anyone following the cash fed cattle market that total monthly cattle slaughter is running higher than a year ago and the 2012-16 average.  But it’s in what category the increase is taking place that’s important.  Cow slaughter continues to rise. USDA National Agricultural Statistics data compiled by the Livestock Marketing Information … Read More

Despite moderate increases in prices of key agricultural commodities, Tenth Federal Reserve District bankers reported in a Kansas City Federal Reserve survey that farm income and spending continued to decrease in the first quarter. The decline makes 2018 the fifth straight year that bankers reported lower farm income than the year before, the survey said. … Read More

World beef consumption is up, and prices are favorable, but production is up, and pressure on beef and cattle markets is beginning to mount, said Rabobank Senior Analyst for Animal Protein Angus Gridley-Baird in a quarterly analysis of the beef market. “US weather conditions, low protein prices in Brazil and changes to live cattle and … Read More

Data from the USDA’s National Agricultural Statistics Service, along with statistics from the USDA’s Economic Research Service, show forecasts for US total per capita red meat and poultry consumption to continue rising through next year. Declines in consumption of chicken and turkey could come next year, but beef and pork consumption was projected to continue … Read More

It will take specific and repeated “good” news to push cattle and beef markets higher from this point, said Stephen Koontz, professor of agricultural and resource economics at Colorado State University in an Extension publication “In The Cattle Markets.” It will take very strong marketings and a bullish USDA Cattle on Feed report this week, … Read More

Total frozen red meat supplies in US freezers on April 30 were up 4% from a month earlier and up 7% from a year earlier with total pounds of beef in freezers up 2% from March and up 3% from last year, the USDA’s National Agricultural Statistics Service said Tuesday. NASS made the data public … Read More