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Monday, March 30,2015

Live cattle futures, cutouts rally; packers still in the red

by Kerry Halladay, Editor
Again packers were holding out to the last minute to buy cattle last week. By Thursday afternoon, not even 4,000 head had been confirmed sold on the cash fed market with no hint of what the prices might be.

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Friday, March 27,2015

U.S. has growing ag Chinese trade surplus

by WLJ
In recent years, growth in U.S.-China agricultural trade has accelerated. During calendar years 2012-13, U.S. exports of agricultural products to China averaged $25.9 billion per year—a tenfold increase from the late 1990s. Sales to China doubled during 2004-08 and doubled again during 2008-12, while the share of U.

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Friday, March 27,2015

Storage report bearish; Feb. beef stocks up 20%

by Kerry Halladay, Editor
The Cold Storage report was called bearish for all meats, though it was especially damning for beef. At 492.12 million pounds of beef in all warehouses as of Feb. 28, the stores of beef were up 20 percent compared to the same time in 2014.

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Friday, March 27,2015

Cattle on feed inventories the lowest since 2003

by Kerry Halladay, Editor
The on-feed population as of Mar. 1 in feedlots with a 1,000 head capacity or higher stood at 10.66 million, down 0.5 percent from Mar. 1, 2014 and the lowest Mar. 1 population since 2003. This level was lower but in keeping with the pre-report industry estimates of a 0.

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Monday, March 23,2015

Futures rally, rest of market stagnant

by Kerry Halladay, Editor
Last week the futures got all the attention in the cattle and beef market family. And despite the spectacular displays there, the cash fed trade was left to languish. Or perhaps that was the result of cash fed cattle buyers holding out until the Cattle on Feed report, which came out last Friday.

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Friday, March 20,2015

Beef trade troubles continue in 2015

by WLJ
Several factors joined forces simultaneously to seriously impact beef exports and imports so far this year. The situation in 2015 is a continuation of trade issues that developed in 2014. Total beef production decreased nearly 6 percent in 2014 and resulted in dramatic increases in U.

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Friday, March 20,2015

LFDP payments spike

by WLJ
The Livestock Forage Disaster Program (LFDP) was initially authorized by the Food, Conservation, and Energy Act of 2008 to reimburse eligible farmers and ranchers for grazing losses due to a qualifying drought or fire through Sept. 30, 2011 (the end of the period covered by the 2008 Act).

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Monday, March 16,2015

Cutting production does not save packer margins, cutout

by Kerry Halladay, Editor
The cash live trade held off to later in the week last week as packers held out hope for the possibility of lower fed cattle prices. By Thursday afternoon, they were to be disappointed. Over 10,400 head of cattle were confirmed sold at $162.50 live and $258- 260 dressed, steady to slightly higher for both live and dressed compared to the prior week.

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Friday, March 13,2015

Whither capital gain rates? Tips when considering a land sale

by DTN
The president’s State of the Union message advocated a new top 28 percent capital gain rate and partial elimination of the stepup in basis that occurs at death. That would make sales of farmland a tax disaster. However, with the Republicans controlling the House and the Senate, those proposals have little chance of enactment.

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Friday, March 13,2015

Canadian beef herd declines

by Kerry Halladay, Editor
“Sharply higher beef prices in North America coupled with a very strong U.S. dollar have significantly distorted relative prices in the U.S. and Canada. High beef prices in the U.S. have limited U.S. beef exports to Canada and as a result Canadian consumers have had to rely more on domestic production to fill needs.

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