Maps show the severity of drought in eight Central Plains states and where they began 2022 in beef cow numbers. These eight states represent 52% of America’s beef cows, and accounted for 67% of last year’s herd culling.
More than 61% of the contiguous US is in some classification of drought. That’s the largest percentage of drought classification since 2012, the year the continental US saw an all-time record of 65% during September.
A U.S. Department of Agriculture employee was paid to allow tick infested and diseased cattle to enter the country, according to an indictment filed in a Laredo federal court last week.
The 2022 Power of Meat report found nearly all households purchase meat, even as more meat consumers shopped online. Nearly half of those shoppers (46%) purchase meat online regularly.
The ongoing drought in south Texas has lowered the water level at the Rio Grande River making it easier for wildlife carrying cattle fever ticks to enter the U.S.
Wheat and corn prices continued to find fuel this week from the ongoing conflict in Ukraine, but cattle markets were in retreat. The Russia/Ukraine conflict will continue to play a role in markets moving forward.
Nobody alive today has seen weather this dry in Northern California during January and February, normally the two wettest months of the year. That’s a dramatic turnaround from record snowfall in December.
Even in regions showing gains in beef cow inventories, price increases have been slow to develop this year. Overall, ranchers continue culling the breeding herd at a significant rate through the first quarter of 2022.
Friday’s Cattle on Feed was not expected to create any additional near-term market volatility. Yet, a closer analysis finds heavy front-end numbers along with signals the feeder cattle supply is tightening.
Cash cattle saw average prices move slightly higher for the week while CME futures tumbled lower. USDA’s reported cattle on feed February 1 inventory was the highest for that month in the series going back to 1996.
