Latest News From Greg Henderson

Markets: Cash Cattle Prices Continue Retreat
Markets: Cash Cattle Prices Continue Retreat

Cash cattle and wholesale beef prices continued their fourth quarter retreat and record heavy carcass weights suggest cattle feeders have lost marketing leverage.

Iowa Cattleman Faces 30 Years for Fraud, Theft
Iowa Cattleman Faces 30 Years for Fraud, Theft

Northeast Iowa rancher operating as an unlicensed dealer pleaded guilty to livestock theft, wire fraud and one count of making a false bankruptcy statement.

Profit Tracker: Red Ink Flows
Profit Tracker: Red Ink Flows

Cattle feeders and beef packers both printed closeouts with red ink last week, slight advantage packers. Pork producers also operated underwater but pork packers saw improving margins.

Activist Sentenced to Jail for Conspiracy and Trespassing
Activist Sentenced to Jail for Conspiracy and Trespassing

A California jury deliberated for six days before returning guilty verdicts of conspiracy and trespassing for DxE co-founder Wayne Hsiung. The jury deadlocked on a second conspiracy charge.

Markets: Cattle Lower as Fundamentals Weaken
Markets: Cattle Lower as Fundamentals Weaken

Market-ready cattle prices have rolled back $10 per cwt. since the end of October and average carcass weights have increased to all-time highs, a sign feedlots are not as current as previously expected.

Profit Tracker: Feeding, Packing Margins Remain Red
Profit Tracker: Feeding, Packing Margins Remain Red

Cattle feeding margins fell deeper into the red last week while packer margins improved modestly. Pork producer margins erode further underwater.

Genetic Merit Pricing: Revolutionizing Feeder Cattle Value
Genetic Merit Pricing: Revolutionizing Feeder Cattle Value

While it's likely the U.S. cowherd is generally of higher quality than it was a decade ago, today’s smaller herd presents an opportunity for ranchers to take another step forward with quality and management.

Cash Cattle Lower During Holiday Week
Cash Cattle Lower During Holiday Week

Light cattle sales volumes were recorded in all regions during Thanksgiving week with cash prices generally $1 lower than the previous week, marking the fourth consecutive week with lower cash prices.

Profit Tracker: Cattle Margins Fall Underwater
Profit Tracker: Cattle Margins Fall Underwater

Cattle feeding margins declined nearly $100 per head last week with lower cash bids and rising costs. Pork producer margins remain mired in red ink.

Cash Cattle Lower Again; COF Higher
Cash Cattle Lower Again; COF Higher

Prices for market-ready cattle have tumbled $7 to $8 per cwt. since the beginning of the month even as supplies remain relatively tight. Volatility continues in the futures market.

Profit Tracker: Feeding Margins Tumble 60%
Profit Tracker: Feeding Margins Tumble 60%

Cash cattle traders were jolted by a steep price decline last week that erased much of the profit on cattle sent to market. Pork margins remain red.

Cash Sharply Lower Following Futures Correction
Cash Sharply Lower Following Futures Correction

Cash cattle prices decline 3% for the week as December Live Cattle futures hit a five-month low and nearby feeder futures post seven-month low.

Profit Tracker: Cattle Margins Narrowing, Pork Improves
Profit Tracker: Cattle Margins Narrowing, Pork Improves

Cattle feeding margins decline even as fed steers trade steady to higher for the week. Packer margins erode on weaker wholesale beef prices. Pork producer margins improve but remain underwater.

Markets: Cattle Steady in Light Trade, Futures Post Weekly Gains
Markets: Cattle Steady in Light Trade, Futures Post Weekly Gains

Cash trade was light as many cattle feeders passed on steady bids. Feeder cattle and calves traded mixed. Live and feeder futures contracts posted weekly gains.

Profit Tracker: Feeder Steer Prices 8% Lower Over Past Month
Profit Tracker: Feeder Steer Prices 8% Lower Over Past Month

Projected breakevens for cattle placed on feed have declined $10 per cwt. over the past month. Pork producer margins are declining even with feed costs 23% lower than last year.

Another Antitrust Lawsuit Filed Against Big 4 Packers
Another Antitrust Lawsuit Filed Against Big 4 Packers

A large contract foodservice company claims the nation's largest beef packers conspired to fix prices and drive up profit margins from 2015 through 2021.

Wyoming Lawmaker Proposes All-You-Can-Kill Elk Permits for Ranchers
Wyoming Lawmaker Proposes All-You-Can-Kill Elk Permits for Ranchers

A Wyoming legislator proposed issuing an unlimited number of elk permits to ranchers in an effort to reduce the overpopulation of elk in eastern Wyoming.

Nevada Ranchers Sue BLM Over Wild Horses
Nevada Ranchers Sue BLM Over Wild Horses

The federal government has not lived up to its promises regarding wild horse control in Nevada, according to a lawsuit filed by two ranches.

Father, Son Die in Northwest Iowa Farm Shooting
Father, Son Die in Northwest Iowa Farm Shooting

Authorities first became aware of the incident when a man called 911 reporting his son was shooting at him. Dispatchers also received a call that livestock were running loose and there was a fire on the property.

Markets: Feeder Cattle and Calves Under Pressure, Fed Cattle Weaker
Markets: Feeder Cattle and Calves Under Pressure, Fed Cattle Weaker

Cattle prices were weaker on the week with volatility in the futures markets and the season's first cold spell on the way. Wholesale beef prices traded higher seasonally.

Profit Tracker: Feed Costs Decline, Margins Improve
Profit Tracker: Feed Costs Decline, Margins Improve

Cattle feeding margins saw a $30 per head improvement with higher cash prices and lower feed costs. Pork producer margins decline as prices soften.

Cash Cattle Higher in All Regions, COF 1% Higher
Cash Cattle Higher in All Regions, COF 1% Higher

Cattle feeders saw $1 to $2 gains in all regions during the week, but a struggling futures market and an unfriendly placement number in Friday's Cattle on Feed report may drag on cash prices in the short-term.

U.S. CattleTrace Symposium To Bring Unique Opportunity
U.S. CattleTrace Symposium To Bring Unique Opportunity

The 2023 U.S. CattleTrace Symposium, to be held November 14-15 at the American Royal Center in Kansas City, MO., will explore innovative solutions for rapid response during animal disease events.

Greg Henderson
No, Beef Demand is Not Shrinking

Checkoff deniers would have you believe per capita consumption data indicate demand is in decline. That claim was debunked 25 years ago.

Profit Tracker: Margins Improve Slightly
Profit Tracker: Margins Improve Slightly

Cattle feeding margins improved modestly last week after cash bids rallied nearly $2 higher. Pork producer margins remain in red.

New Price-fixing Suit Aimed at Big 4 Beef Packers
New Price-fixing Suit Aimed at Big 4 Beef Packers

Price-fixing allegations were again levied against America's largest beef packing companies, this time by a group of small distributors.

Fed Cattle Post Gains, Calves, Feeders Lower
Fed Cattle Post Gains, Calves, Feeders Lower

Following a couple of weeks of steady to lower money, fed cattle prices posted advances in all regions last week.

Profit Tracker: Feed Costs Shrink
Profit Tracker: Feed Costs Shrink

Cattle feeding margins remain solidly profitable and supported by significant declines in feed costs. Pork producer margins erode.

Noise, Uncertainty Drag on Cattle Markets
Noise, Uncertainty Drag on Cattle Markets

Outside factors pressured cattle markets through most of the past week before futures and wholesale beef prices rebounded on Friday. Market fundamentals remain positive for cattle going forward.

New Meat Sector Data on Continuous Improvement, Sustainability
New Meat Sector Data on Continuous Improvement, Sustainability

The North American Meat Institute releases its 2023 Continuous Improvement Report with data submitted for this year’s report covering an estimated 90% of all meat sold in the United States.

Profit Tracker: Packers Reduce Harvest as Margin Woes Worsen
Profit Tracker: Packers Reduce Harvest as Margin Woes Worsen

Packers applied the brakes and cattle slaughter declined another 13,000 head last week and capacity utilization dipped 9%. Pork producer margins print $7 in the red.

Cash Cattle Softer as Futures Sink
Cash Cattle Softer as Futures Sink

Cattle futures posted weekly losses including a technically bearish weekly low close in December live cattle. Cash markets were weaker, but strong cash fundamental remain in place.

U.S. House Votes to Reject Attack on Checkoffs
U.S. House Votes to Reject Attack on Checkoffs

Members of the U.S. House of Representatives overwhelming rejected a proposal on Wednesday that would have barred USDA from operating commodity checkoff programs.

Profit Tracker: Packer Margins Continue Eroding
Profit Tracker: Packer Margins Continue Eroding

Higher cattle prices and declining wholesale beef prices pushed packer margins further underwater last week. Pork producer margins inched into the black.

JBS-logo
JBS to Build Cultivated Protein Research Facility in Brazil

JBS announced construction is underway in Brazil on a cultivated protein research and development center.

Packer Capacity
Packer Capacity

Eight beef packing projects are in various stages of completion that could add 10% to total industry capacity; is it needed? What potential headwinds might these ventures face?

Cash Cattle Steady as Futures Spike Higher
Cash Cattle Steady as Futures Spike Higher

Cattle futures rallied to all-time highs on Friday after Thursday's sell off, supporting negotiated cash prices that reported mostly steady for the week.

Profit Tracker: Packer Margins Retreat to Red
Profit Tracker: Packer Margins Retreat to Red

Higher cattle prices and declining wholesale beef prices pushed packer margins underwater last week. Pork breakevens fell to their lowest point in two years.

Cash Cattle, Futures Stage Late-Week Rally
Cash Cattle, Futures Stage Late-Week Rally

Cattle futures posted fresh all-time highs on Friday, providing the lift cattle feeders needed to secure higher bids from packers. Supplies of ready cattle seem ever tightening.

Profit Tracker: Feeder Margins Decline
Profit Tracker: Feeder Margins Decline

Post-holiday prices held firm but rising costs cut cattle feeding margins last week. Pork producer margins at breakeven.

Beef-on-Dairy: A Revolution in American Beef Production?
Beef-on-Dairy: A Revolution in American Beef Production?

Beef-on-dairy is arguably the most significant advancement for the U.S. beef industry in a generation, and no current review of the State of the Beef Industry would be complete without examining its impact.

What The 2022 National Beef Quality Audit Says About The Cattle Industry
What The 2022 National Beef Quality Audit Says About The Cattle Industry

Gains to quality are documented along with areas for improvement identified.

Profit Tracker: Packer Gambit Pays Dividends
Profit Tracker: Packer Gambit Pays Dividends

Reducing slaughter and putting less beef tonnage on the market has helped beef packers regain some profit margin. Pork producer margins decline.

Greg Henderson
12 Percent Claim is 100 Percent B.S.

Last week I learned I'm a 12-percenter, and if you're a Drovers reader it is likely you are a 12-percenter, too. That's not good, at least according to those who would regulate our dietary choices.

Data Reveals Passion: Optimism and Resilience Amidst Drought
Data Reveals Passion: Optimism and Resilience Amidst Drought

America’s beef producers are optimistic about the future, and the state of today’s industry is strong. Those are two highlights from the 2023 Drovers State of the Industry survey and reported in this special section.

Cash Cattle, Wholesale Beef Lower Ahead of Holiday
Cash Cattle, Wholesale Beef Lower Ahead of Holiday

Weaker cattle and beef prices were the rule in trading ahead of the long weekend, but this marks the 14th consecutive week negotiated cash prices have traded above $180 per cwt.

BT_Beef_Steak_1
12 Percent Eat Half of America's Beef, Study Says

A new study claims that half of the beef consumed in America is eaten by just 12% of the population on a given day.

Profit Tracker: Packer Margins Return to Black
Profit Tracker: Packer Margins Return to Black

After six weeks running in the red, beef packers jumped back into positive margins after last week’s wholesale beef rally. Pork producers remain profitable.

USDA_Sheep
Unrustled – Thieves Return 48 Sheep to Wyoming Ranch

Rancher doesn’t know whether it was rustler’s remorse or publicity that gave the bandits cold feet about trying to sell the sheep that prompted their return.

Profit Tracker: Feeding Margins Strong, Packer Woes Continue
Profit Tracker: Feeding Margins Strong, Packer Woes Continue

The spread between cattle feeding margins and packer margins narrowed modestly last week. Pork producers remain profitable.