Indianapolis

Indianapolis

May 22, 2016

Dinner prices at St. Elmo Steak House may get cheaper. The number of cattle placed into U.S. feedlots in April jumped 7.0 percent from a year earlier, according to a government report on Friday, far exceeding most analysts’ forecasts.

Feedlots were still operating at a loss, analysts said. But lower prices for young calves allowed feedlots to buy more of them for fattening, which helped shore up sagging bottom lines.

USDA’s data showed the number of heavier cattle placed in April rose almost 12 percent from the year-ago month. Analysts said this could pressure prices for slaughter-ready animals in the fourth quarter.

Continue reading »

St Elmo Steak House

St Elmo Steak House

May 23rd, 2016

Commodity hedge funds raised bets on rising agricultural commodity prices to the highest in nearly two years, provoking concerns of a sell-off in the off – particularly in sugar, in which bullish betting hit a record high.

Managed money, a proxy for speculators, lifted its net long position in futures and options in the top 13 US-traded agricultural commodities, from corn to sugar, by nearly 65,000 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.

The buying took the net long – the extent to which long bets, which profit when values rise, exceed short holdings, which benefit when prices fall – nearly to 680,000 contracts, the highest since June 2014, and supporting talk around in the market of funds moving cash into ags.

Continue reading »