Frigid temperatures are expected in the U.S. Plains and Midwest in the coming days, and roughly 20 percent of the Plains hard red winter wheat crop is vulnerable to damage, an agricultural meteorologist said on Friday.
Friday’s report is anticipated not only for the information that enables market analysts to estimate slaughter cattle supplies, but also because the January report was unpublished due to the government shutdown.
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.
Calf and yearling markets continued to rally during January, adding 5% onto gains of 7% to 10% recorded in <p></p>December. A mid-January storm across the Northern Plains canceled some sales and severely hampered <p></p>auc