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Cattle futures rally
May 1st, 2013
Cattle futures rose for the first time in four sessions on speculation that U.S. beef demand will outpace supplies. Hogs fell.
Beef output in the U.S. will drop 4 percent in 2013, after the domestic cattle herd on Jan. 1 sunk to a 61-year low, government data show. Wholesale prices for the meat reached $1.9639 a pound yesterday, the highest in almost seven weeks, according to the U.S. Department of Agriculture. Consumers tend to start grilling outdoors at this time of year, boosting meat demand.
“Cattle numbers just aren’t that big,” Lawrence Kane, a market adviser at Stewart-Peterson Group in Yates City, Illinois, said in a telephone interview. “We’re probably going to go from winter to summer in 36 hours, and that will certainly make the retailer feel like there’s going to be some meat demand at the counter.”
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cattle futures prices fall
April 22nd, 2013
Cattle futures fell on signs of increasing supplies of animals in the U.S. Hog prices also dropped.
About 1.899 million cattle were placed in feedlots last month, up 6 percent from 1.792 million in March 2012, the U.S. Department of Agriculture said April 19. That compares to the 1.5 percent decline projected by 13 analysts surveyed by Bloomberg News. The placement figure was “pretty negative,” said Lane Broadbent, a vice president at KIS Futures Inc. in Oklahoma City.
“The thing that’s probably the most disappointing is there was so much optimism built in this market that we have such tight numbers,” Broadbent said in a telephone interview. “The demand is not there to make this thing be a lot better.”
Cattle futures for June delivery fell 0.3 percent to $1.20875 a pound at 10:22 a.m. on the Chicago Mercantile Exchange, heading for the third straight drop, the longest slide since March 15.
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hog futures drop
April 17th, 2013
Hog Futures – U.S. hog farmers are poised to produce a record amount of pork at a time when exports are slumping the most in more than a decade, prolonging a global glut into a fifth consecutive year.
The 10.66 million metric tons produced will be the most since at least 1970, the U.S. Department of Agriculture estimates. Exports fell 14 percent in the first two months, the most for the period in government data since 2000. Futures may drop 20 percent to 72 cents a pound by the end of the year on the Chicago Mercantile Exchange, based on the median of nine trader and analyst estimates compiled by Bloomberg.
Demand for pork from the U.S., the biggest exporter, is weakening as importers from South Korea to Japan expand domestic output. Exports are also retreating as China and Russia, the largest buyers after Japan, curb purchases of meat produced with ractopamine, a feed additive used in the U.S. Farmers are expanding output because costs are dropping as grain prices tumble from records set during last year’s drought.
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Cattle Futures Move Higher
April 16th, 2013
Cattle futures rose on speculation that U.S. meat purchases will increase as the weather warms up and more consumers grill outdoors. Hog prices also climbed.
Wholesale beef rose 0.2 percent to $1.8989 a pound yesterday, the first increase in almost a week, U.S. Department of Agriculture data show. Meatpackers processed 122,000 cattle yesterday, up 5.2 percent from the previous week, government data show.
Prices are increasing on “the optimism that we’re getting closer to a timeframe that temperatures do start to warm up and better grilling and better demand,” Don Roose, the president of U.S. Commodities Inc. in West Des Moines, Iowa, said in a telephone interview.
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April 15th, 2013
Cattle futures fell to the lowest in nine months on signs of weak U.S. beef demand amid cold weather and slow exports. Hog prices also dropped.
Wholesale beef slid 0.9 percent last week to $1.8952 a pound, a two-week low, U.S. Department of Agriculture data show. The forecast for the central and eastern U.S. is cooler than expected for the next six to 10 days, according to an e-mailed report from MDA Weather Services today. A “cool trough” will also linger near the East, the weather service said. Consumers grill outdoors during warmer weather, increasing meat demand.
“This week the market is expected to remain flat as spring beef demand has yet to pick up due to cold, wet weather throughout much of the country,” Troy Vetterkind, the owner of Vetterkind Cattle Brokerage LLC in Thorp, Wisconsin, said in an e-mailed report. The chuck and round cuts of beef “continue to be hampered by slack exports and soft domestic demand.”
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April 11th, 2013
Cattle futures rose the most in two weeks on signs of constrained supplies in the U.S., the world’s biggest beef exporter. Hogs also climbed.
U.S. beef output will be almost 25 billion pounds (11.3 million metric tons) this year, down 0.9 percent from the March estimate and 4 percent lower than 2012, the Department of Agriculture said yesterday. The U.S. cattle herd was the smallest since 1952 at the start of 2013 after the most-severe drought since the 1930s cut livestock-feed supplies and damaged pastures.
“We’re still dealing with limited numbers of cattle,” Lane Broadbent, a vice president at KIS Futures Inc. in Oklahoma City, said in a telephone interview. The number of cattle available for slaughter “is still tight,” he said.
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April 4th, 2013
Cattle futures fell for the third time this week on signs of weak demand for U.S. beef. Hog prices also declined.
Export sales of beef totaled 10,508 metric tons (23.2 million pounds) in the week ended March 28, down 39 percent from a week earlier, U.S. Department of Agriculture data showed today. Wholesale-beef prices were little changed at $1.9148 a pound yesterday.
“You’re going to have trouble sustaining any upward movement in beef prices,” with exports and domestic demand “being at lower levels, especially for the better cuts,” Dick Quiter, an account executive at McFarland Commodities LLC in Chicago, said in a telephone interview. “It’s just a tough time for the meats here in general.”
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April 4th 2013
Cattle Rustlers – Experienced cattle thieves continue to trouble southwest Missouri cattle farms with another 18 animals stolen last week. A group of residents are planning a substantial reward to put an end to the problem.
The Associated Press reports 17 calves and a cow with an “LM” brand on its left hip were stolen from Larry Mallory’s farm located 25 miles east of Joplin, Mo. last week. Even Mallory admits the thieves are skilled, but he and other cattle producers continue to lose money as more animals are stolen from the area.
Jackie Moore, co-owner of the Joplin Stockyards told KY3 News 1,000 cattle within a hundred-mile radius of the office have been stolen in the past two years. Producers, along with associations and businesses in the area, hope a large reward will persuade someone to come forward with information about the thieves.
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March 27th, 2013
Cattle futures rallied Wednesday on short-covering before the extended Easter holiday weekend, analysts and traders said.
CME livestock pit trading will close at the normal 1 p.m. CT time on Thursday. The exchange will be closed on Friday for the Good Friday holiday.
April and June live cattle futures broke through their respective 10-day moving average resistance levels of 126.36 cents and 121.75 (all figures US$). The move triggered fund buying and buy stops.
Futures’ advances reinforced beliefs that unsold cash cattle would trade fully steady with last week’s $124 to $125 per hundredweight (cwt).
On Tuesday, cash cattle in Texas sold for $125/cwt, feedlot sources said. There were no cash bids or asking prices elsewhere in the U.S. Plains, they said.
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March 26th, 2013
Cattle futures rose for the third time in four sessions on signs of shrinking U.S. supply of animals available to beef processors. Hogs declined.
About 1.482 million young cattle were placed into feedlots last month, 14 percent less than a year earlier, the U.S. Department of Agriculture said in a March 22 report after the close of trading in Chicago. The February placements were the lowest for that month since the government began tracking the data in 1996.
The report “is supportive” for cattle prices, Dennis Smith, an analyst at Archer Financial Services, said in a telephone interview.
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