News
Report expected to show all categories below year-ago levels.
But a large drought footprint will remain in place across the western states.
Forecast raises concerns about planting delays.
Many U.S. commodities may be slapped with tariffs if the WTO approves the list.
This is expected to prolong Midwest planting delays.
Chip Flory and Brian Grete discuss the market’s price discovery process.
While drought improved in many areas, the Southern Plains saw slight expansion.
Final rule keeps provisions from proposed rule on labeling for each production step and prevents commingling of meat from different origins.
“We are deeply disappointed with this short-sighted action by the USDA,” says Scott George, National Cattlemen’s Beef Association president, after USDA’s rule on mandatory country of origin labeling.
The U.S. tightened country-of-origin labeling provisions to specify where animals are born, raised and slaughtered.
Texas moves backwards, with 12.88% of the state covered by exceptional drought.
Seasonal Drought Outlook calls for some drought improvement across areas of the Plains.
Traders look for On Feed to come in below year-ago levels.
Report showed all categories on the bearish side of expectations.
Forecast calls for below-normal precip for bulk of Corn Belt.
Normal precip expected across most of the Corn Belt.
Drought Monitor reflects 60.21% of the nation still covered by some form of drought.
Drier conditions expected in the western Corn Belt, while wet condition to continue in the eastern Belt.
Cattle futures climbed for the first time in three days on signs of increasing demand from U.S. meat processors.
Rains the next two months set the stage for grazing season.
But a majority of the country is still covered by some form of drought.
All categories seen below year-ago levels.
Seasonal Drought Outlook a broken record for Southern Plains.
Cooler-than-usual conditions to linger into month’s end.
Drought monitor notes that 34.96% of contiguous U.S. is drought-free -- little changed from last week.
This should help cattle futures to rebound next week.
Meteorologist Gail Martell provides her weather insight.
January pork and beef trade data are illustrative the opportunities & challenges ahead.