Markets
Cash-traded feeder pig reported volume was below average this past week, with 4,800 head reported. Cash feeder pig reported prices were $97.36, down $2.81 per head from last week.
With the run-up in stock prices for GameStop, AMC and others, could corn, soybeans or cattle be next? Listen to what Tommy Grisafi of Advance Trading had to say about it on U.S. Farm Report this weekend.
The inventory of all cattle and calves in the U.S. was 93.6 million head on January 1, 2021, down fractionally from 93.8 million head one year ago.
Cash cattle traded mostly $3 higher on the week, despite light volumes and varied interest from packers. April live cattle futures posted a key bearish reversal, but closed lower for the week.
Market analysts see signs that feedyards have significantly reduced the COVID-19-induced backlog of cattle and are regaining currentness, also a key factor in the recent market rally.
On-feed numbers indicate that packers could be running low on committed cattle, which should force some packers back into the cash market in the coming weeks.
Cattle feeders were left on the sidelines as every other cattle/beef market segment saw a price rally. Futures markets set new highs, but cash cattle have not reached $112 for seven months.
Jan. fed cattle prices are normally choppy and we’re seeing that pattern in 2021. A primary difference, compared to 2020, is that last week’s average price is $14/cwt. lower, the same discount as the 5-year average.
Driven by higher estimates for pork, the China total meat import forecasts were revised up for both 2020 and 2021, according to the USDA Livestock and Poultry World Markets and Trade report.
Cattle feeders found higher prices as 2020 came to a close, but their ability to push the market higher may hinge on how Live Cattle futures perform in the first weeks of the New Year.
Cattle feeders gained enough leverage to push negotiated cash cattle prices higher during both holiday weeks as 2020 drew to a close. Supplies of fed cattle will tick lower during the first quarter of 2021.
Cash cattle in the South traded steady, and futures contracts had a decent week but packer needs during the holidays seem to have more of an effect than the futures market.
Fed cattle treaded steady in the South to weaker in the North, with wholesale beef prices posting additional declines for the week. Friday’s cattle on feed report was as advertised and will be viewed as neutral.
Placements in feedlots during November totaled 1.91 million head, 9 percent below 2019. Net placements were 1.85 million head.
Cash cattle trade began on Tuesday last week, but bids were scarce even at lower money. Some feeders held strong for higher money, but with the decline in the CME board a higher market never surfaced.
Cattle markets limped through a lackluster week for cash sales as wholesale beef prices plummeted. Despite lower cash cattle prices, packer margins likely declined significantly with lower cutout values.
Negotiated cash cattle traded started at higher money mid-week, but in their rush to move cattle some feeders agreed to lower prices and the week ended on a softer note.
The post-Thanksgiving negotiated trade was mixed, with higher prices mid-week, falling off $1 to $2 by week’s end. Feeder cattle sold uneven, $2 lower to $3 higher.
The first shipments of the Certified Angus Beef ® (CAB®) brand arrived in China in November, ushering in the potential for a new, powerful buyer for high-quality U.S. beef.
The Choice beef cutout price has rallied nearly $30 in November while cash fed cattle prices have gained just $5. As a result, packer margins have increased while feeding margins struggle to remain above water.
Cattle markets entered November with solid gains across all sectors. Fed cattle rebounded with higher prices in all regions while feeder cattle jumped $2 to $7 per cwt.
A large winter storm is advancing across the central U.S. bringing cold temperatures and some much-needed moisture. Feedlots continued to build inventory during September leading to a record inventory for Oct. 1.
Profitability for both cow-calf and feedyards is projected to improve in 2021, Sterling Marketing president John Nalivka told AgriTalk host Chip Flory.
Packers aggressively sought inventory last week and cash fed cattle prices surged $2 per cwt., to instances of $3 higher for the week. Large trade volumes were reported in the North at $107 to $108 per cwt.
A fall rally in cash fed cattle markets has added $5 to $6 per cwt. over the past three weeks. Feeder cattle remain in moderate demand, but drought conditions across much of the Great Plains is affecting cattle markets.
Large volumes of cattle traded in all regions at $2 higher prices ahead of Friday’s cattle on feed report which counted 4% more inventory than last September.
Agri Beef, a cattle feeding, farming and beef processing company in business since 1968, announced it plans to open a new beef packing facility in Jerome, Idaho.
USDA released Wednesday the long-awaited report on its investigation into cattle market disruptions following last year’s Tyson Foods packing plant fire and this spring’s impact from the coronavirus pandemic.
Here are some ways to help manage stress in cattle during the summer and how to help their caregivers manage their own stress to enable them to be successful.
One impact of the coronavirus pandemic on the beef industry has been an increase in the number of carcasses grading Prime, but the shuttering of high-end restaurants that sell Prime beef, however, softened demand.