Second-quarter farm debt continued to increase alongside faster growth in farm production loans, said Kansas City Federal Reserve Bank Economists Francisco Scott and Ty Kreitman, in a Bank release. Similar to recent quarters, outstanding agricultural loan balances at commercial banks increased by about 5%, Scott and Kreitman said.  Non-real estate loans increased at the fastest … Read More

As steaks, roasts and other meats become more expensive, ground beef seems to be carrying the day, said Elliott Dennis, Extension livestock economist at the University of Nebraska, Lincoln, in a letter from the Livestock Marketing Information Center called In The Cattle Markets. Lots of simple and easy-to-cook recipes while families attempt to stay within … Read More

Kansas fed steer closeouts in July declined in a counter-seasonal move but remained near the 2017-2021 average, according to data collected by the Kansas State University Extension Service and compiled and published by the Livestock Marketing Information Center in Denver. Fed heifer closeouts shot higher to mark the largest marketing month this year, although they, … Read More

Managed money, a moniker for large commodity investment funds, bought more live cattle futures during the week ended Tuesday to extend their collective net long position as hedgers increased their total net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   FUNDS EXTEND LONG POSITION   … Read More

Contacts from most Federal Reserve districts indicated in the Bank’s Beige Book that economic growth was modest during July and August. The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve districts.  It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, … Read More

The USDA’s Foreign Agricultural Service Monday forecast Australian beef supply to recover in 2024 to the point of reaching the sixth highest production on record. A report from the FAS’ office in Canberra, Aus., said the 2024 forecast came after a significant turning point in 2023, where production was estimated to grow by 16% from … Read More

In its monthly World Agricultural Supply and Demand Estimates report Tuesday, the USDA lowered its forecast for 2023 red meat and poultry production from last month on lower production forecasts for all meats. For 2024, the red meat and poultry production forecast was reduced on lower broiler production forecasts as weaker prices were expected to … Read More