The most recent Cold Storage report came out last week showing red meat supplies in all freezers down fairly significantly year-over-year. Red meat in cold storage as of Nov. 30 stood at 919.08 million pounds, down 10 percent from the same time last year.
California state Senator Jerry Hill (D-13) submitted SB 27 to the state’s senate last month. Among other things, the bill would require a veterinary prescription for any use of “medically important” antibiotics in food animals. It would prohibit the use of such antibiotics for the sole purpose of weight gain or improved feed efficiency.
One of the biggest elements of market news last week was the unprecedented freefall seen in the feeder futures markets. For five solid days—from Dec. 12 through Dec. 17—every contract on the feeder board was limit down—a drop of $15 in all feeder contracts in less than a week!.
On the ninth day (before) Christmas, a lot of people in the West got some early gifts when the president signed what might be one of the most bipartisan supported—and bipartisan opposed—bills of the 113th Congress. Of course, that also means a lot of people got the legislative equivalent of a whopping chunk of coal early too.
The paper—“Effects of wolf mortality on livestock depredations”— was published in the open-source academic journal PLOS One at the beginning of December. The study the paper describes was conducted by Robert Wielgus and Kaylie Peebles of Washing State University using U.
The cash fed trade was a surprise, in that it dribbled in throughout the week starting as early as Monday. Monday saw $259-260 dressed and $164 live in Nebraska, $164 live on Tuesday in Kansas, and then down to $255-256 dressed for some heavy cattle in the Cornbelt Wednesday.
All was quiet on the agricultural supply front last week. The most recent World Agricultural Supply and Demand Estimates report showed very little movement in grains, and minimal activity in meats relative to past reports, though beef led the total meat production estimates downward while pork led the meat import numbers upward.
By close of trade on Thursday, over 17,500 head had been confirmed sold for the week. Though light, the trade was very trend-setting for the week and confirmed analysts’ earlier worries. Live prices ranged from $163-166—well below the prior week’s $170-173—and dressed prices were $263-265, down from $264-268.
At its 166th conference, the Organization of Petroleum Exporting Countries (OPEC) decided to maintain its production level of 30 million barrels of oil a day. The announcement sent the already declining crude oil prices into a momentary tailspin. Cattle producers and beef consumers may benefit, however.
Friday, Nov. 28, Christie vetoed New Jersey Senate Bill 998, a widely supported bill that would have banned the use of gestation crates for pregnant sows in the state. While mainstream media and the Humane Society of the U.S.