The order in which withdrawals are made is the key to tax efficiency. Generally, this means tapping taxable accounts—i.e., investments other than IRAs and taxdeferred employer plans such as 401(k)s—first, since they were made with aftertax dollars and taxes have already been paid on investment earnings.
On the heels of Rocky and Q—the winter storms, that is—the issue of winter hay feeding is a key concern. Though for some, winter always means feeding hay, the unusual and sudden levels of snow many parts of cattle country got last week and the week before have potentially intensified that need.
The cash fed cattle market was slow to develop last week. The first sales surfaced on Wednesday in the South Plains at $123 live and some very light trade took place in the Corn Belt at $122 live and $194-196 dressed.
There is understandably a lot of concern in the beef industry about beef demand in the coming months. The expected decrease in beef production in 2013 will likely represent a 3.3 percent decrease in domestic per capita supplies.
The cash live cattle trade was slow to develop last week as packers tried to play chicken with cattle feeders over buying inventory. Offers were firm at $127-128 live and $205 or more dressed. Limited bids of $123 live had surfaced in the south Plains by Wednesday, but beyond that, packers were silent on bidding and cattle feeders weren’t biting.
Due in large part to softer same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) declined in December. The RPI—a monthly composite index that tracks the health of and outlook for the U.S.
The most recent Cattle Inventory report was released Friday, Feb. 1 and reported on all cattle— beef and dairy—in the U.S. herd as of the first of the year. Overall, the number of cattle and calves recorded was down 1.6 percent at 89.3 million head, making this the lowest Jan.
Cash fed cattle trade developed slowly by midweek last week. Small showlists and strength in the futures inspired some hope for the cash trade prices. The South Plains saw live trade on Wednesday at $124-125 and dressed at $197 but on light numbers. Bids were placed at $125 live in the Corn Belt but no trade had occurred.
is down 6 percent compared to last year’s Jan. 1 on-feed population of 11.86 million. Pre-report estimates had anticipated an on-feed level 95.6 percent of last year’s. The unrounded results were 94.4 percent, which was just within the low end of the pre-report estimate range.
There were almost no bids recorded last week, though trade did develop lightly by midweek. In the south Plains, live cattle traded at $122 and at $121-122 in the Corn Belt. Dressed cattle saw Corn Belt trade at $193 with instances of $194 in Iowa.