The USDA’s December forecast for 2023 red meat and poultry production was raised from last month as higher fourth-quarter pork and broiler forecasts were offset partially by lower turkey output. The USDA’s monthly World Agricultural Supply and Demand Estimates report was released Friday.   2023 BEEF PRODUCTION SEEN STEADY   The USDA’s 2023 beef production … Read More

USDA reported wholesale prices for 50% lean ground beef have been declining as retail sales at fast food restaurants decline, but this should not be called declining demand. At least some of it could be laid at the feet of a decline in buying interest linked to rising retail prices for fast food, but not … Read More

Farm debt balances at commercial banks grew steadily in the third quarter but loan performance remained strong, said Kansas City Federal Reserve Bank Economists Nate Kauffman and Ty Kreitman said in a Federal Reserve Bank release. Despite some indications of slower lending activity in recent surveys and subdued loan demand for some lenders, outstanding debt … Read More

Agricultural producers’ sentiment increased for the second straight month, as the Purdue University/CME Group Ag Economy Barometer index rose five points to a reading of 115, a 12% increase from 2022. A Purdue University release said, the sentiment growth was attributed largely to farmers’ improved perceptions of their farms’ financial conditions and prospects.  This month’s … Read More

Kansas feedlot managers sold fewer slaughter-ready cattle in October than in September, a normal trend, but this year’s monthly decline was less steep than usual. The data came from a monthly survey of selected feedlots around the state by the Kansas State University Extension service.  The data is forwarded to the Livestock Marketing Information Center … Read More

Managed money, a proxy for large commodity index funds, trimmed their collective net long live cattle futures position for the eighth straight week during the week ended Tuesday. At the same time, commercial traders, those who own, or will own, the cattle, covered more of their total net short position for as many weeks. The … Read More

The current rate of cow and heifer slaughter indicates continued herd liquidation, said Derrell Peel, Oklahoma State University Extension livestock marketing specialist, in a university letter called Cow-Calf Corner. The Jan. 1 USDA Cattle (Inventory) report included a beef cow herd of 28.9 million head, down 3.6% year over year and the smallest beef cow … Read More