Markets
Cattle markets continued reeling Tuesday as both CME Live Cattle and Feeder Cattle set contract lows following Monday’s locked limit-down performance.
Packer participation in the cattle market was an issue even before Friday night’s fire at Tyson’s Holcomb, Kan., beef packing facility.
Fed cattle trade was slow to develop in the southern plains with packer bids falling $2 short of steady. Feeder cattle traded at uneven prices across the nation.
The indefinite closure of Tyson’s Holcomb, Kan., facility creates the potential the cattle “marketing pace will slow down and carcass weights will increase.”
For his leadership to the beef industry and dedication to raising quality cattle, Jerry Bohn will receive the 2019 Feeding Quality Forum (FQF) Industry Achievement Award later this month.
Feeder steers sold steady to $2 higher, with instances of heavier cattle selling $6 to $7 higher in special sales in the Southern Plains.
Packers enjoyed a comfortable inventory last week, and many have stopped Saturday harvests, which helped push cash cattle prices $1 per cwt. lower.
Cattle feeders’ perseverance paid dividends as they held out for steady to higher cash trade in all feeding regions.
Providing shade and cool water, and only feeding or working cattle in the cool of the day can prevent solar radiation and the damaging effects from an elevated heat load.
The fluctuation in the cash price in this trade seemed to be mostly dependent on the location of the cattle, with prices ranging from $114-$116, with dressed trade at $182-$185.
Over the next few weeks patience and a calm trigger finger could be profitable to the cattle feeder as the supply of market-ready cattle declines.
Brazilian reporters claim JBS SA has been buying cattle from ranches grazing cattle on deforested land in the Amazon, a practice forbidden by the Brazilian government.
Cattle feeders were hopeful that last week was the bottom of the decline in cash cattle prices, but a negative corn report helped prices even lower.
Cattle markets remain under pressure, though good demand was evident on heavier feeder cattle in the northern Plains.
Cattle feeders continue to search for a bottom to the fed cattle market, but the seem to have little leverage to stop to slide.
Tyson Foods’ executives told investors its beef margins are benefitting from a structural shift higher due to both domestic and global demand growth and a favorable supply of cattle.
Packers were able to keep the market suppressed as the trade began last week at $2 back of the previous week.
Fed cattle trades were few and far between last week, with most bids lower and packers seemingly uninterested.
Divestment plan leads to ownership changes for 11 feedlots
The cattle herd in the U.S. is growing, and cash prices for fed and feeder cattle have exceeded expectations this fall as live and feeder cattle futures reached a new contract high to start November.
China’s largest online retailer to buy Montana beef
JBS Says It’s Done With Asset Sales as Earnings Boost Outlook
Prices were higher for all classes of cattle for the week ended Oct. 13, with cash fed cattle trading at $111 per cwt., $2 higher. Cattle sold on a dressed basis at $175 per cwt., $2 to $3 higher.
The 2017 cattle markets have been interesting, and since November 1, Elaine Kub, author of Mastering the Grain Markets, can describe them in one word: wild.
Cattle markets moved lower this week, spurred by futures markets that nosedived on Wednesday.
When you have a cough, you visit a doctor. When you want to know where your food comes from, you should ask farmers and ranchers.
In letter, EU demands improved checks on meat safety.
Post-scandal squeeze on finances sparks asset sales, cutbacks.
ABC and a South Dakota meat producer announced a settlement Wednesday in a $1.9 billion lawsuit against the American network over its reports on a lean, finely textured beef product that critics dubbed “pink slime.”