Cull Cow Price Behavior

Cull cow prices are an important factor for many operations in the Southeast. Most operations wean calves in the fall months, and that is also when they select cows for culling and begin to sell them. As we approach the … Continue reading

Total Meat Supply and Disappearance

This week’s article comes from a recent publication by the Livestock Marketing Information Center (LMIC). Total U.S. red meat and poultry production are often cited as “record high,” which is correct this year and last, and LMIC forecasts that situation … Continue reading

August 1 Cattle on Feed Report Comments

The latest cattle on feed report released by USDA on Friday showed a feedlot inventory of 10.6 million head. This is a 4.3 percent increase over August 1, 2016, and is the largest inventory for August since 2012. In total, … Continue reading

Hay Production Down from 2016 Levels

Hay production in the Southeast is estimated to be down by slightly less than one million tons as compared to 2016 levels according to USDA-NASS (National Agricultural Statistics Service) based on crop conditions as of August 1. This is approximately a … Continue reading

Cattle Futures Decline Sharply

Cattle futures markets were down significantly last week including a 4.5-cent limit decrease last Wednesday for the August feeder cattle contract. Live cattle trading at the time of this writing has the nearby contract at just under $109 and the … Continue reading

U.S. Beef Exports Continued Upward in June

The latest monthly meat trade data were released this morning and showed further increases in the amount of beef exported in June. U.S. beef and veal exports totaled 238 million pounds during the month of June. This was about a … Continue reading

Safeguard Trigger Penalizes U.S. Beef in Japan

The Japanese government announced on Friday that imports of U.S. beef reached the level to trigger an automatic increase in the tariff rate on frozen U.S. beef. Japan is the top export market for U.S. beef and 2017 has seen … Continue reading

Cattle Market Notes Week Ending July 21, 2017

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Cattle Quick Thoughts

The cattle on feed report showed a 4 percent increase in the number of cattle on feed on July 1 over last year. It also reported a 16 percent increase in placements and a 4 percent increase in marketings in June of 2017 as compared to June of 2016. This is much larger than expected and cattle futures prices have opened significantly lower today in response to this report and the cattle inventory report. To continue reading this article click HERE…

 Cash Cattle:

Cash traded fed cattle prices were mostly steady last week. Live cattle were down 15 cents to an average of $119.33 while dressed steers were down 34 cents to an average of $189.74.

Feeder cash prices were higher last week in Mississippi. Mississippi feeder steers weighing 450-500 pounds were up $1 to an average of $153.50 while 750-800 pound steers were up $1.50 to $130.50. Average feeder prices last week in Oklahoma City were at $171.87 for 500-550 pound steers and up $3.02 to $153.24 for 750-800 pound steers.

[ … For more in depth Livestock Prices and Production data and trends CLICK HERE… ]

Futures:

Futures prices were lower at the end of the week. August live cattle were down $1.63 to $116.43 while October live cattle were down $1.43 to $117.40. August feeder cattle were down $1.85 to $152.95 while September feeder futures were down $1.50 on the week to $153.15. Corn futures prices were lower with September and July down a nickel to $3.72 and $3.85, respectively.

Beef:                                                                                          

Boxed beef values fell further last week. Choice boxes averaged $207.88, down $5.05 from a week ago. Select boxes averaged $195.39, down $3.53 from last week. The choice-select spread shrunk to $12.49, down $1.52 from last week.

Note: all cattle and beef prices are quoted in dollars per hundredweight and corn prices are quoted in dollars per bushel unless stated otherwise.

July 1 Cattle on Feed Report is a Bear

The cattle on feed report showed a 4 percent increase in the number of cattle on feed on July 1 over last year. It also reported a 16 percent increase in placements and a 4 percent increase in marketings in … Continue reading

The Use of Enterprise Units in Crop Insurance

The 2008 Farm bill provided for an alternative level of crop insurance subsidies for Enterprise Units relative to Basic and Optional Units.  As you can see in Table 1 the subsidy for enterprise units are sometimes as much as 20% … Continue reading