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Friday, September 6,2013

July Restaurant Index dips due to soft sales

by WLJ
The Expectations Index stood at 101.3 in July, down 0.6 percent from June and the lowest level in seven months. Despite the decline, each of the four expectations indicators stood above 100 for the seventh consecutive month, which indicates restaurant operators remain generally optimistic about business conditions in the months ahead.

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Tuesday, September 3,2013

Cash fed, live futures surprise

by Kerry Halladay, Associate Editor
Cattle feeders’ reaction to the bullish Cattle on Feed (COF) report of holding firm on higher asking prices, and packers’ theoretic position of leverage with larger showlists and buying for a short kill week this week had the two parties on the sidelines of cash trade last week.

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Tuesday, September 3,2013

Placements decline over 4 times more than expected

by Kerry Halladay, Associate Editor
Calling the most recent Cattle on Feed (COF) report “bullish” is something of an understatement. Instead of the usual bovine mascot for that market scenario—horned, alert, ready for action— let’s substitute something more extreme. Like a rodeo bull or a Spanish fighting bull.

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Friday, August 30,2013

Markets spur retained ownership

by WLJ
By the second quarter of 2014 the projections are above the futures price by $10 per hundredweight. Gessner said these prices, combined with new crop corn and hay prices remaining lower than last year, suggest profit potential for calves backgrounded throughout winter.

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Friday, August 23,2013

Supply issues; Zilmax and cows

by Kerry Halladay, Associate Editor
It seems the cash attention last week was on the feeder sales because negotiated cash fed sales were slow to “dead.” Very few bids and only tiny and sporadic sales had occurred by midweek. By Thursday afternoon only 4,679 head had been confirmed sold, making the volume too low for a market trend.

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Friday, August 23,2013

Cattle markets move past summer lows

by WLJ
Cattle markets and boxed beef appear to have moved past the summer lows. Wholesale beef, fed cattle and feeder cattle markets are all generally moving in the same direction, rare for this year, and certainly not all in harmony yet. The Choice boxed beef cutout has increased about $8/cwt.

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Friday, August 16,2013

Zilmax Impacts

by Kerry Halladay, Associate Editor
The cash fed trade last week was at a trickle in terms of volume. Throughout the first half of the week, only slightly more than 4,000 head had sold total on the negotiated market. Bids were slow to appear and were mostly ignored in the face of asking prices of $123-124 live and $200-201 dressed.

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Friday, August 16,2013

Corn changes counter expectations

by Kerry Halladay, Associate Editor
Corn took the cake in last week’s release of the World Agriculture Supply and Demand Estimates (WASDE) report. Counter to prereport estimates which predicted corn yields to be increased, USDA revised the numbers down. This had a short-term positive effect on corn futures and, unsurprisingly, a negative effect on feeder cattle.

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Friday, August 16,2013

Experts: Lots of variables in Zilmax ban's long-term impact

by DTN
“As far as real market impact, it’s going to depend upon whether anybody follows suit,” DTN Livestock Analyst John Harrington said. “If Tyson’s all alone out there, it’s probably not going to have a huge market impact. On the other hand, if JBS, National and Cargill all get on the same page, well, then that will have ripples.

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Friday, August 16,2013

Fall feeder cattle marketing options

by WLJ
Oklahoma feeder cattle prices have increased about $20/cwt for all weights since the lows in late May. After being on the defensive much of the first half of the year, feeder cattle markets are poised to hold stronger in the second half of the year.

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