feeder cattle futures

feeder cattle futures

November 25th, 2014

There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.

Surging energy investment in Prairie Provinces, home to most of the nation’s farms and cattle ranches, has boosted domestic crude output to a record and sent pump prices to a three-year low. That’s led to jobs on drilling rigs or pipe crews paying two-thirds more than those in livestock, luring cowboys and beef-plant workers to the oil patch.

Continue reading »

Feeder Cattle Futures

Feeder Cattle Futures

July 30th, 2014

Beef costs are poised to rise further as feeder-cattle futures climbed to cap the longest rally in 37 years amid mounting U.S. supply concerns.

Cattle inventories as of July 1 fell to the lowest for the date since records began in 1973, the U.S. Department of Agriculture data said last week. Gains in consumer spending helped the economy rebound more than forecast in the second quarter, according to government figures today. Retail ground beef and boneless sirloin-steak costs rose to all-time highs in June, Bureau of Labor Statistics data show.

“We’ve never had cattle supplies this tight before with this kind of beef demand,” Troy Vetterkind, the owner of Vetterkind Cattle Brokerage in Thorp, Wisconsin, said in a telephone interview. “At some point in time, we’re going to cool things off, but it doesn’t appear to be this week. It’s a historic thing that we’ll probably never see ever again.”

Continue reading »