We’re in a predictable period of a well-established supply and demand cycle. Yet there is a different potential crisis looming for the beef cattle industry.
What should have been good news for the grain and oilseed markets ended up having the opposite effect as we ended the week down, sharply down some cases says Jerry Gulke, president of the Gulke Group.
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.
Mike Florez of Florez Trading tells AgDay host Clinton Griffiths that Bollinger Bands are a useful volatility indicator and a good tool for helping determine market opportunities over a short period of time.
Average feedyard margins declined $18 per head last week, settling at $26. With average margins that close to breakeven, many cattle sold last week undoubtedly lost money.
Following two days of falling cattle futures prices, Joe Vaclavik, president of Standard Grain, is calling the market moves a knee-jerk reaction to the latest Cattle on Feed report from the USDA.
The latest Cattle on Feed report from the USDA was considered to be bearish by analysts. Now traders are looking at whether futures markets can find a way to hold on to current prices.
The U.S. Meat Export Federation (USMEF) said Japan is continuing to buy U.S. beef. Exports to the island country continued to gain momentum in June, with volume up 7 percent and value up 13 percent compared to 2016.
Japanese officials confirm rising imports of frozen beef in the first quarter of the Japanese fiscal year (April-June) have triggered a safeguard, resulting in an automatic increase to Japan's tariff rate under the WTO on imports of frozen beef from the U.S.
Drought and dryness in the northern Plains hasn’t been enough to stop cattle growth, according to the mid-year cattle inventory numbers from the U.S. Department of Agriculture (USDA).
Brazil was plunged back into a political crisis reminiscent of last year’s impeachment saga following reports that President Michel Temer was embroiled in an alleged cover-up scheme involving the jailed former speaker of the lower house of Congress.