Last week the cattle and beef markets were holding their breaths before the Thanksgiving week. Cash cattle trade didn’t relevantly develop until Friday and futures were sideways. But prices for feeder cattle keep going up and the cutout continues its slow march upwards.
Last week, Agriculture Secretary Tom Vilsack announced that the USDA had partnered with Chevrolet, a division of General Motors, and a number of other groups to create a market for carbon credits in defense of grasslands.
The review is required by California law every five years to ensure the CSC, and other commodity marketing commissions like it, are accomplishing their goals. Lacking any serious outcry against it, the CSC will be renewed for another five years.
Last Monday, the November World Agricultural Supply and Demand Estimates (WASDE) report was released. Most noteworthy was the one-month reversal of corn yield rates, even as analysts still call for higher yield estimates.
The cash trade was slow to develop last week as packers were stretching what they had in committed cattle to cover reduced production needs. Increases in the futures also had them holding off buying in hopes of a downturn as cattle feeders were asking for higher money.
One industry detail you’ve likely seen bandied about since summer is the return on investment numbers for the Beef Checkoff Program. For every dollar invested in the checkoff, the program has reportedly returned about $11.20 to the beef industry.
You may have heard about the benefits of probiotics in health food stores or from your doctor. But the microorganisms that colonize the human gut aren’t the only ones that need some love. Cattle and their colonies of gut microbes also benefit from special attention.
When you see a cow out on the range with her nose to the ground, or a steer with his head buried in a feedyard bunk, what do you see? If “bovine-shaped microbe homestead” or “four-legged fermentor vat” isn’t among your mental list, you should add them.
Activity in the cattle and beef markets was slow last week as the nation turned its attention to the elections and the strength in the outside markets. Live and feeder cattle futures were quietly mixed as more attention-grabbing markets—the Dow and the S&P 500— set record highs.