Cash fed cattle trade was slow to develop last week, but by Thursday afternoon a light trade had taken place at $150 live and $240 dressed. These prices were mostly seen in the Texas Panhandle and Kansas. Comparatively, the prior week had seen prices at $148- 148.
Cattle and beef prices are at record levels in every industry sector, from cow/calf to retail beef prices. These record prices are obviously supported by a very unusual set of supply and demand circumstances.
“Effective with the August 2015 delivery month, the amendments will allow heifers to be deliverable against the Live Cattle Futures contract but be subject to additional eligibility requirements,” noted the CME announcement of the decision. The additional restrictions are as follows:.
Cash fed cattle prices drifted lower last week as the live cattle futures took a nose-dive and packers seized on the opportunity to buy cattle cheaper. Compared to the $150-152 live and $240 dressed prices seen in the previous week, last week saw the bulk of trade happen at $150 live and $237-240 dressed.
The largest collaboration between Walmart and U.S. Meat Export Federation (USMEF) in Central America to date recently concluded in four countries in the region. Walmart in Costa Rica, Guatemala, El Salvador and Nicaragua worked with USMEF on a six-week “Ten New U.
And up we go (again)! Packers took the steer by the proverbial horns last week in the cash markets. They were apparently undaunted by their $100-perhead losses as they bid up the price of cash cattle to $150-152 live and $240-242 dressed mid-week.
The largest food industry trade show in the Middle East, the Gulfood Show in Dubai, is the first stop for the group, which includes representatives from the Cattlemen’s Beef Board, United Soybean Board, Illinois Corn Marketing Board, Iowa Corn...
The most recent Cattle on Feed report was called bearish for the markets as onfeed populations and placements were higher than expected, and marketings were lower than expected. The most surprising of the numbers was placements, which far outstripped industry expectations.
All was quiet on the beef front last week. The same could not be said for the world of pork, however, as the Humane Society of the U.S. fired shots over the bow of the pork industry. Look for more information on that unfolding story in this week’s Beef Bits and next week’s issue of WLJ.
“We had assumed that under the continuation of the old law that more land would be planted to corn because of the ACRE program,” Glauber said. “Now with the new programs based on base acres, we think there will be more flexibility. They will look at the soybean-to-corn price ratio and will plant a little less corn than normal.