Beef - General
With three-quarters of 2016 nearly in the books, we see continued expansion of the beef cow heard and continued increases in beef production.
Cattle prices continue to plummet, falling below the dollar mark on Tuesday.
The seedstock industry is starting to feel the pressure of low cattle markets.
It is abnormal for live cattle prices to continue finding new summer lows this late in the summer.
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Lower finished cattle prices continue to produce red ink for most cattle feeders which continues to drain equity.
High feedlot placements in the spring might mean more beef in cold storage and lower cattle prices.
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The questions abound if prices are going to continue to strengthen or if they will falter heading into the fall of the year. The answer is different depending on the weight class and management provided to those animals.
Ranchers, no longer riding the crest of a supply-starved market, cinched up early this year for the inevitable ride lower. Few, however, expected the steep price decline for all classes of cattle and the volatility that has seeped out of the trading pits in Chicago.
The average price of choice beef at retail was $6.20 per pound during June.
The market is well supported at the current cash price levels even though live cattle futures continue to fall.
New Hampshire’s Health Department says it’s investigating an outbreak of E. coli bacteria associated with ground beef after 12 people got sick eating the meat since June.
Live cattle prices are hitting the summer wall and hitting it hard.
The latest beef and cattle trade data shows a mixed bag of global market impacts. Total beef exports were down 5.3 percent in April compared to last year.
The key comparative advantages currently enjoyed by North America’s integrated industry include a strong trust and premium being placed on their grain-finished beef.
Beef demand unlikely to slip, but weights could fall amid heat.
Most folks in agriculture prefer American-made products, though most of us wear, own or perhaps drive some imports.
Job growth has continued to drop the past few months, a sign that consumer beef demand could be in trouble.
Just 8% of U.S. pastures are in poor to very poor condition, according to USDA. It is a 2% improvement from last year.
The U.S. Department of Agriculture (USDA) confirmed that the first shipment of U.S. beef recently arrived in South Africa following the reopening of the South African market earlier this year.
Market ready cattle prices were spurred by a relatively strong futures market and a strengthening in wholesale beef prices.
The Choice cutout was $212.05 down $0.45 from Thursday and down $8.45 from last Friday, while fed cattle trade was $2 to $3 lower than a week ago on a live basis.
Foreign demand for U.S. beef was down 13.2% in 2015 and has been down in two of the first three months of 2016.
The recent price pressure is not necessarily a bad thing as it may benefit packers and feedlots alike down the road.
In a high or low cattle market environment, capturing the most pounds per calf affects a producer’s bottom line, said a Texas A&M AgriLife Extension Service economist.
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Producers are going to have to be a little more savvy in marketing calves and feeder cattle since forward pricing opportunities appear limited.
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