Beef prices were “underwhelming” in the lead up to Independence Day, said University of Tennessee Ag Economist Andrew Griffith. Summertime and summer holidays usually see a seasonal boost.
- By Tim Kenyon, Iowa Farmer Today
Expect to see “variability” again describing this year’s corn crop.
- Benjamin Herrold
Several issues continue to shape the cattle markets, including cattle on feed numbers, New World screwworm and consumer meat demand amid the broader economic trends.
- Crystal Reed
One of the dominant focuses for the grain market through mid-summer is threatening weather and the expected arrival of El Niño.
- Benjamin Herrold
Beef production is running lower than a year ago, although there is some variation in the amount of the decrease.
- Crystal Reed
The peak risk management period is behind farmers with crops now in the ground, and while there are dry spots in places, condition rates are lofty.
- Benjamin Herrold
Summer holidays and weekends usually provide a seasonal boost to beef demand, and University of Tennessee Ag Economist Andrew Griffith said these times could be an indicator of consumers’ willingness to pay for beef at current prices.
- Benjamin Herrold
Widespread drought is impacting producers’ management decisions. University of Georgia Extension Livestock Economist Will Secor said drought is an issue for the majority of the U.S. cattle inventory.
- Crystal Reed
The seasonals are turning more negative currently, according to Don Roose at U.S. Commodities.
- Crystal Reed
News from the United States-China talks could be a “game changer,” said Don Roose at U.S. Commodities.
- Benjamin Herrold
With another strong week for finished cattle prices, University of Tennessee Ag Economist Andrew Griffith said the dollar value of each head is climbing into a very high range.
- Benjamin Herrold
The Livestock Marketing Center continues to track domestic meat demand. The first quarter demand climbed higher for beef.
- By Benjamin Herrold, Iowa Farmer Today
The finished cattle market surged during the week ending May 1, climbing from already high levels, University of Tennessee ag economist Andrew Griffith said.
- By Crystal Reed, Iowa Farmer Today
The soybean market was “on fire” to start this week, with bean oil pushing to the upside May 4, adding risk premium due to the war in Iran, said Don Roose at U.S. Commodities.
- Benjamin Herrold
Drought conditions in many major cattle-producing regions of the U.S. could be an obstacle to herd rebuilding efforts.
- Crystal Reed
Drought in the western Plains has some farmers concerned, while the southeast and the upper Midwest is wetter than usual.
- Crystal Reed
The markets are eyeing the forecast to see whether planting progress will push forward or not.
- Benjamin Herrold
The latest USDA cattle on feed report showed lower inventory and placements.
- Crystal Reed
With conflict ongoing in the Middle East, the grain market is looking for other movement.
- Benjamin Herrold
The beef Choice-Select spread has been negative for part of April.
- Benjamin Herrold
The latest USDA hogs and pigs report showed a small increase in total inventory, although the breeding herd declined more than expected, the Livestock Marketing Information Center said.
- Crystal Reed
Funds in the grain market are in record long positions, and there is an energy, fertilizer and weather premium is the market, said Don Roose at U.S. Commodities.
- Benjamin Herrold
Beef purchases for summer grilling season will begin to provide more information on how willing consumers are to pay higher beef prices, University of Tennessee Ag Economist Andrew Griffith said.