live cattle futures

live cattle futures

June 21st, 2016

Chicago cattle prices bounced up from multi-year lows, on technical support, but the market remains under pressure thanks to ample beef supply, and sluggish US demand.

Prices for both live cattle, which are ready for slaughter, and feeder cattle, which are ready for fattening up on feedlots, are under pressure.

Live cattle prices hit a four-year low of 113.725 cents a pound on Monday, while feeder cattle hit a three-year low 134.250 cents a pound.

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Feeder Cattle Futures

Feeder Cattle Futures

June 5th, 2015

Australia’s beef producers will start to rebuild their herds, despite the threat of El Nino-induced dryness, thanks to a trend of rising cattle prices which looks set to continue, National Australia Bank said.

Australian cattle prices have, unusually, jumped over the past year despite dryness worries in some eastern areas – typically a negative sign for prices in cutting pasture condition and encouraging herd reduction.

The increase in prices – which as measured by the eastern young cattle indicator hit a record 489.5 Australian dollar cents per kilogramme last month – has been attributed largely to strong import demand from the US, where a recovery in southern pasture conditions from long-term drought is encouraging producers to rebuild herds rather than sell animals into the beef supply chain.

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April 27th, 2012

Cattle Futures – U.S. beef packer profits are back in the black for the first time in seven months as the onset of spring has boosted demand for steaks and hamburgers that will headline backyard cookouts.

This annual surge in beef sales, and subsequent profits, could not come soon enough for the U.S. beef industry, which has been hurt by drought, an uproar over ammonia-treated beef, and another case of mad cow disease.

On Thursday, U.S. beef packers earned an estimated $3.45 per head of cattle, according to the Colorado-based analytics firm HedgersEdge, which uses proprietary data to calculate the margins.

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April 26th, 2012

Commodity Brokers – The Commodity Futures Trading Commission, the main U.S. derivatives regulator, is reviewing the release of information about the first domestic case of mad cow disease in six years.

Cattle futures slumped in advance of a U.S. Department of Agriculture April 24 announcement that a case of bovine spongiform encephalopathy, or BSE, had been confirmed in a dairy cow in California.

“CFTC reached out to USDA with questions on the BSE announcement timeline for their routine market analysis,” Courtney Rowe, USDA spokeswoman, said in an e-mail yesterday.

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April 25th, 2012

Cattle Futures – The first U.S. case of mad cow disease in six years may not disrupt the nation’s corn and soybean exports because global demand for crops used as livestock feed is surging, said Roy Huckabay, an executive vice president at Chicago agriculture broker Linn Group.

“Mad cow will have little impact on domestic feed demand,” Huckabay said. “Drought in South America is boosting demand for U.S. soybeans and soybean meal. China is buying U.S. corn, and that is the tip of an iceberg of new demand. China will buy 10 million metric tons of corn this calendar year, up from 5 million currently on the export books.”

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April 24th, 2012

Cattle futures tumbled the most in 11 months in Chicago, and feeder-cattle prices fell by the exchange limit as a case of mad-cow disease was reported in the U.S. Corn, used in livestock feed, also slumped.

A case of mad-cow disease has been found in a dairy cow in central California, John Clifford, the USDA’s chief veterinarian, told reporters today in Washington. Its meat did not enter the food chain and the carcass will be destroyed, Clifford said. This is the fourth confirmed case of the brain- wasting disease in the U.S. cattle herd since the first was discovered in December 2003 in an animal that came from Canada.

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April 20th, 2012

Cattle Rustler – A former Sallisaw police officer is charged with stealing cattle but won’t be tried for filing a false police report after shooting himself in the chest.

A judge ruled Thursday after a two-day hearing that 36-year-old Wendel Don Hughes is to be tried on 31 counts of stealing domestic animals.

The Oklahoman reported that seven witnesses testified at the hearing. Records from two livestock markets show Hughes sold 178 head of cattle worth $72,000 in January 2011.

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April 19th, 2012

Cattle futures climbed for the third time this week on signs of increasing demand for U.S. beef. Hogs also advanced.

Wholesale-beef prices jumped 1.2 percent to $1.8576 a pound yesterday, the highest since March 26 and the fourth straight increase, U.S. Department of Agriculture data show. Meatpackers processed an estimated 347,000 head of cattle this week through yesterday, up 3.3 percent from the same period a week earlier, USDA data show.

“Boxed beef has been doing fine,” Mark Schultz, the chief analyst at Northstar Commodity Investment Co. in Minneapolis, said in a telephone interview. Current meat prices may allow processors to buy more cattle and bid more for available supply, he said.

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April 17th, 2012

Cattle Futures – The consumer backlash against a meat product made from leftovers and treated with chemicals is making a bad situation worse for Cargill Inc. and Tyson Foods Inc. (TSN) ahead of the beef industry’s peak sales period.

Kroger Co. (KR), the largest U.S. grocery-store chain, last month stopped buying ground beef containing what processors call lean, finely textured beef, while Wal-Mart Stores Inc. (WMT) said it would offer customers meat without the additive.

Lower demand for the product — dubbed “pink slime” by critics — has prompted Cargill, the biggest U.S. beef processor, to scale back output of the lean meat at four plants. Tyson says beef supply will decline. The companies, already dealing with higher cattle costs, may start labeling ground beef with the product as the industry tries to back shoppers’ confidence ahead of the U.S. summer grilling season.

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March 30th, 2012

Commodity Investing – The Standard & Poor’s GSCI gauge of 24 commodities gained 0.9 percent to 690.1501 by 4:49 p.m. in London, and earlier gained the most since March 23. The UBS Bloomberg CMCI index of 26 raw materials was up 1.2 percent to 1603.961. In the GSCI, corn and wheat were up the most, at 5.9 percent and 5.3 percent, and feed cattle was down the most, at 0.8 percent.

GRAINS, OILSEEDS

Corn and wheat prices surged, and soybeans jumped the most since mid-January, after a government report signaled tighter U.S. crop supplies than analysts expected.

U.S. farmers will plant 73.9 million acres with soybeans this year, down 1.4 percent, the U.S. Department of Agriculture said in a report today. Analysts surveyed by Bloomberg forecast 75.43 million acres. In a separate report, the USDA said corn inventories on March 1 fell 7.9 percent from a year earlier and were the lowest for that time of year since 2004, while wheat supplies fell 16 percent.

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