The Federal Reserve’s Beige Book this week said overall economic activity expanded slightly, on balance, since late February. Ten out of the 12 Federal Reserve districts reported either slight or modest economic growth—up from eight in the previous report–while the other two reported no changes.   CONSUMER SPENDING UP   Consumer spending barely increased overall, … Read More

Unlike other beef cuts, wholesale prices for fresh 90% lean beef keep rising, setting record highs in each of the last seven weeks. USDA wholesale price data compiled and published by the Livestock Marketing Information Center in Denver, showed a weekly wholesale beef price of $346.86 per cwt, up $2.05, or 0.59%, from $344.81 a … Read More

The USDA’s Foreign Agricultural Service said in its monthly Livestock and Poultry: World Markets and Trade report that 2024 China beef, pork and chicken imports were forecast at 3 million tonnes less than the 2020 banner year. China’s share of global beef, pork and chicken exports was expected to account for only 17% of the … Read More

During the week ended last Tuesday, April 9, managed money sold live cattle futures as hedgers covered many of their short positions, according to data from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   MANAGED MONEY SELLS CATTLE   As of last Tuesday, managed money, a moniker for large commodity index … Read More

The CME Group is reviewing the live cattle futures contract traded at the Chicago Mercantile Exchange in an effort to keep it relevant to the cash market. As part of a panel addressing the live cattle contract’s applicability to the cash fed cattle market, CME Group Executive Director of Ag Markets Fred Seamon spoke Friday … Read More

For 2024, the US Department of Agriculture’s estimate for red meat and poultry production was raised from last month. The USDA’s monthly World Agricultural Supply and Demand Estimates report Thursday said the beef production estimate was raised because of heavier weights and higher slaughter. The pork production forecast was raised on higher hog slaughter more … Read More

Highly Pathogenic Avian Influenza among cattle has been given a new name: Bovine Influenza A Virus. It has been confirmed in dairy farms in Texas, Kansas, Michigan, Idaho, New Mexico, Ohio and North Carolina.  Many states have begun or have stepped up their restrictions on the movement of cattle. The USDA has formulated a Q&A … Read More