The most recent Grain Stocks report was released Friday, Sept. 29 by USDA. It reported all stocks of corn in all positions—on farms and in mills, elevators, warehouses, terminals and processors—stood at 988 million bushels (mb), well below prior year comparisons and industry and earlier USDA projections.

Trade for cash negotiated fed cattle developed earlier last week than often happens, but remained light. Tuesday afternoon saw some very light trade around cattle country at $192 dressed in Iowa and $194 in Nebraska. Wednesday saw trade develop in the south Plains at $123 live and $190-192 dressed in the Corn Belt.

The most recent Cattle on Feed and Cold Storage reports came out Friday afternoon, Sept. 21. All numbers reported for the Cattle on Feed report were down from what the industry anticipated. This could mean supplies are and will be tighter than anticipated.

Maybe not all cattle feeders see it that way, but in the big picture, that’s what is happening, says Shawn Walter, president of Professional Cattle Consultants (PCC). He presented “How big can we go?” at last month’s Feeding Quality Forum in Grand Island, NE, and Amarillo, TX.

Very few bids were posted, none in the first half of the week, and those that surfaced later on were in the area of $122 live in the South Plains, and $192-194 in the Corn Belt with no takers. Asking prices were generally $126 live in the South Plains and $197-200 dressed in the Corn Belt.

Surprisingly high cash fed cattle trade developed Wednesday last week. Cattle were selling $196-197 dressed and $126-127 live in the Corn Belt and in some portions of the South Plains. Colorado didn’t sell any cattle that day and Nebraska and Iowa sold lightly at $124-126 live and $194-195 dressed.

The September World Agricultural Supply and Demand Estimates (WASDE) report came out Wednesday, Sept. 12. This report held some surprises in corn, though the surprises were mostly in that the estimates varied so much from, and were so much stronger than, pre-report industry expectations.

U.S. pork exports in July were slightly lower than a year ago while beef exports dipped moderately in volume, achieving their largest monthly total of 2012 while holding steady in value. These results are based on statistics released by USDA and compiled by the U.

USDA has forecast agriculture exports to reach a record $143.5 billion in the 2013 fiscal year, with strong demand from Canada, Europe and Japan, according to The Outlook for US Agricultural Trade released Aug. 31 by the USDA’s Economic Research Service (ERS) and Foreign Agricultural Service.

No relevant trade developed last week up to midday Thursday. Bids of $120 live surfaced in Texas on Wednesday, but no trade developed as cattle feeders stuck to their offers of $125-126 live and $193-194 dressed. Trade was expected to crop up late in the week at steady to higher prices compared to the prior week’s $122-123 live and $188-190 dressed.