Farmers and ranchers affected by wildfires are in desperate need of hay and other supplies. Blizzard conditions this past weekend in states north also created need for forage and government disaster assistance.
U.S. beef packers including Tyson Foods and Cargill are racking up historically high margins, thanks to slumping cattle prices amid a supply glut and as Americans turn to beef for their backyard summer barbecues.
Anecdotal evidence and supply observations suggest packers have recently had a negotiating advantage over feedlots. Packer margins continue to be wide and the supply of cattle on feed continues to be high.
Dairy margins continue to project negative through the first half of the year on heavy milk production and high supplies of dairy products, while expectations for this balance to shift in late 2016 helped support deferr