The state’s key witness in the trial of an Arizona rancher accused of killing a Mexican citizen trespassing on his property last January had previously served time in a federal prison for drug smuggling.
Packers have reduced harvest and employed other tactics in an effort to regain positive margins. Pork producer margins took another step higher as lean carcass prices advance.
What should you expect to pay for custom baling or silage chopping? A new report from the University of Nebraska may offer guidelines. A webinar covering the livestock-specific report will be held at noon on Thursday.
Cattle feeders held firm to higher asking prices and packers continued to wave lower bids with only a few cattle trading hands. Leverage remains in the feeder’s hand as packers must begin filling Labor Day orders soon.
The spread between cattle feeding margins and beef packer margins has now reached $500 per head as packing losses increase. Pork producer margins are the highest of the year.
Packers and cattle feeders spent the week in a standoff ahead of USDA’s dual July reports that were bullish as expected, suggesting a 3% decline in cattle inventories and a 2% decline in cattle on feed inventories.
There’s a $400 spread between cattle feeding margins and packer margins – now in the cowboy’s favor. Cattle harvest is lower as packers reduce hours, a signal their margins are in the red.
Generally, a good week for agriculture with cattle steady to stronger despite a significant rally in the corn market. Packers try to hide their hand, but without inventory they must pay up to keep plants running.
Last week produced the lowest feed costs and lowest break evens for pigs placed in the finish barns since December 2021. Cattle feeders also saw declining feeding costs.
