Fed Cattle
Poor performance from CME futures on Friday limited what cattle feeders could gain back on the cash market from the declines over the last few weeks.
For his leadership to the beef industry and dedication to raising quality cattle, Jerry Bohn will receive the 2019 Feeding Quality Forum (FQF) Industry Achievement Award later this month.
Providing shade and cool water, and only feeding or working cattle in the cool of the day can prevent solar radiation and the damaging effects from an elevated heat load.
Cattle feeders were hopeful that last week was the bottom of the decline in cash cattle prices, but a negative corn report helped prices even lower.
Cattle markets remain under pressure, though good demand was evident on heavier feeder cattle in the northern Plains.
Cattle feeders continue to search for a bottom to the fed cattle market, but the seem to have little leverage to stop to slide.
The cattle herd in the U.S. is growing, and cash prices for fed and feeder cattle have exceeded expectations this fall as live and feeder cattle futures reached a new contract high to start November.
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Prices were higher for all classes of cattle for the week ended Oct. 13, with cash fed cattle trading at $111 per cwt., $2 higher. Cattle sold on a dressed basis at $175 per cwt., $2 to $3 higher.
The 2017 cattle markets have been interesting, and since November 1, Elaine Kub, author of Mastering the Grain Markets, can describe them in one word: wild.
Cattle markets moved lower this week, spurred by futures markets that nosedived on Wednesday.
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Cattle and beef markets have decreased from April highs with uncertainty in a variety of factors weighing on markets the past month.
The U.S. Department of Agriculture also reported a record amount of beef in freezers or cold storage last week.
USDA has increased its forecast of U.S. beef production.
U.S. feedlots unexpectedly increased the number of cattle purchased in December compared with a year earlier, a government report showed.
Packers came into the week bidding aggressively and the result was another week of record-high prices.
Change and volatility are commonplace in today’s agricultural markets, and those trends have been no different in cattle marketing for nearly 20 years.
The live cattle market should begin creeping up the next several weeks as it searches for its fall high which precedes the holiday season.
With three-quarters of 2016 nearly in the books, we see continued expansion of the beef cow heard and continued increases in beef production.
It is abnormal for live cattle prices to continue finding new summer lows this late in the summer.
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.
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 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.
Just 8% of U.S. pastures are in poor to very poor condition, according to USDA. It is a 2% improvement from last year.