After a software error caused beef carcasses to be inaccurately reported for grades and weights, JBS is a paying a fine and reimbursing producers who were impacted.
U.S. red meat and poultry production is increasing at a rapid rate, and market analysts warn cattlemen to be prepared for pressure on prices the rest of 2018.
While most farmers certainly won’t turn down a year with ample rain, the frequency of rainfall can pose a challenge to putting up high-quality hay for the winter months.
There is potential for the market to move higher, but it will be difficult for prices to exceed the price achieved during the early November time period.
The key for cattle feeders will be to continue moving cattle through the system as being current in marketings has been a friend to the cattle feeder throughout 2017.
Moving through the second half of 2018, the picture will become even clearer as the fall run of calves come to market and as producers continue to cull cows.
Chicago Mercantile Exchange live cattle futures on Friday drew pressure from funds that sold, or "rolled," June positions into back months before similar moves lasting five days beginning on Monday, said traders.
CME Group Inc plans no further moves to reduce volatility in its cattle futures market, after making a series of changes to rein in wild price swings that drove away hedgers, a managing director said on Wednesday.
Looking at the same 8-week period in sales, we can see that packers have done a good job of moving product through forward sales of boxed beef with delivery dates of 21 to 90 days out.
This year will likely bring a mostly flat year for national herd growth which will position the industry at a pivotal point for supplies and prices moving forward.
Chicago Mercantile Exchange live cattle nearby contracts on Wednesday were weakened by funds that sold, or "rolled," June positions into back months ahead of similar moves early next week, said traders.
