The weekly Kansas fed cattle basis is extremely wide, with cash over the Jun futures contract last week by $19.81 per cwt, compared with a 2012-2016 average of $7.33 and a standard deviation of $1.66, USDA and CME Group pricing data showed. The basis is the difference between cash and the stated futures delivery month … Read More

Large commodity investment funds, called managed money, added slightly to their collective net long live cattle futures position in the week ended Tuesday as producer types made marginal gains in their net short position. The Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday said managed money’s net long cattle position was 13,438 contracts, … Read More

The USDA’s monthly World Agricultural Supply and Demand Estimates report forecast total US red meat and poultry production for 2019 would be 105.358 billion pounds, 2.369 billion, or 2.30%, above 2018’s 102.989 billion. However, the 2018 production forecast was lowered 504 million pounds, or 0.49%, from last month to 102.989 billion pounds from 103.493 billion. … Read More

With the world getting smaller and world trade competition heating up, it pays to take a look at the agriculture outlook in other countries.  In this vein, the staff at the USDA’s Foreign Agriculture Service estimated Argentina’s crop production for the 2018/2019 crop year. In a report, FAS staff said Argentine wheat production was forecast … Read More

This year’s late spring could have a deleterious effect on this year’s total US hay crop as some farmers get fewer cuttings because of the weather and others hit a time conflict with other fieldwork. An article on “Hay and Forage Grower” said “2018 won’t be characterized as anything other than a late spring.  Fieldwork … Read More

US beef exports in March set a new monthly value record, and pork export value reached the second-highest level on record shepherding first-quarter total red meat exports to a strong showing, according to data released by USDA and compiled by the US Meat Export Federation. The US is exporting a large share of its beef … Read More

Large investment firms, called managed money, are closing in on a zero net live cattle futures position with their tenth straight week of long liquidation, according to the Commodity Futures Trading Commission. The CFTC’s weekly Commitments of Traders report said managed money’s new net long live cattle position was 11,431 contracts, down 3,956, or 25.7%, … Read More