Livestock and Grain Markets, Prices & Futures
Use the chart below to check futures prices for commodities. Click the links for pricing on grains, livestock, and more and stay on top of what’s going on in the markets. Cash price reflects the USDA Chicago terminal.
Latest News from Markets
During a Facebook Live address to cattlemen Monday night, R-CALF CEO Bill Bullard outlined four actions his group proposes to “restore balance to our dysfunctional cattle markets.”
Texas congressman Mike Conaway told AgriTalk radio he believes an investigation into packer profits is likely, but encourages cattlemen and processors to continue working to feed Americans during the COVID-19 crisis.
Cash prices charged higher in feedyard country this week, leaving CME futures in the dust. Feeder cattle recovered most of the previous week’s losses.
The current cattle market situation creates significant disparities between the current supply and demand situation and expectations for coming supply and demand conditions.
Some American beef packing companies are adding to worker’s hourly pay and sick leave in response to the COVID-19 emergency. Some will earn an additional bonus for working all their shifts through May 3.
Panic meat buying emptied shelves and drove the Choice beef cutouts nearly $48 per cwt. higher. Cash fed cattle were higher, but not at a proportionate level.
Packer margin is significant. However, why is packer profitability the only focus, and we are not as outraged about the other “elephant in the room” issue within our market?
The U.S. and global economy is in uncharted waters. There are many unknowns about the timing, severity and aftermath of the disease. For beef, there are longer-term questions about the overall impact on demand.
Cattle markets will continue to be influenced by uncertainties from coronavirus, and the sharp selloff in financial markets. The DOW closed the week with a 1,985-point gain (9.4%), the DOW’s largest ever one-day gain.
The world’s largest potential market for beef seems to be shrinking under the strain of the cornonavirus as the government locked down cities for weeks and enforced wide-scale quarantines.