Cattle Outlook
Beef Demand Appears To Slow
In wholesale markets, the spread between average monthly Choice and Select cutout values widened from a February 2011 low of $0.87 per cwt to a peak of $5.50 in June, then moved down to August’s $4.99.
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Cow-calf producers face difficult decisions for this winter
Crop progress for hard red winter wheat pasture in Texas and Oklahoma is well behind last year and the 5-year average, but, in Kansas, is only slightly behind last year and the 5-year average. Limited availability of wheat pasture will likely drive pasture rental rates higher than in recent years. The higher rates will constrain those stocker operators trying to capitalize on the anticipated demand for heavier-weight feeder cattle next spring. Recent rains have helped, but additional precipitation will be needed to maintain wheat pasture through the winter.
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Cattle Outlook: Fed cattle futures move higher, Corn futures lower
USDA’s latest corn stocks report came in well above trade expectations, pushing corn prices still lower. USDA says September 1 corn stocks totaled 1.128 billion bushels, down 34% from a year earlier, but up 17% compared to trade forecasts. That’s good news for livestock producers.
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Colorado Cattle on Feed up 11 percent
The number of cattle and calves on feed for the slaughter market in Colorado feedlots with a capacity of 1,000 head or larger was estimated at 990,000 head as of September 1, 2011. The latest inventory was up 11 percent from September 1, 2010, and up 2 percent from the previous month.
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Cattle Outlook: August beef in cold storage, steer slaughter higher
USDA says that 0.8% fewer cattle were placed on feed this August than last. They report that August marketings of fed cattle were up 6.5%, in part due to one extra slaughter day.
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Cattle Outlook: 2012 red meat production to be lowest since 2009
The average price of choice beef at retail during August was $4.872 per pound, up 9.1 cents from the month before, up 49.8 cents from August 2010, and tied with the record set in May.
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Cattle Outlook: July beef exports 33 percent higher than a year ago
Beef exports during July totaled 272 million pounds, up 33.3% compared to a year ago and quite likely the largest monthly beef exports ever.
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Cattle Outlook: Job report, economy impacts future meat demand
Boxed beef prices were lower this week. Friday morning the choice boxed beef carcass cutout value was $181.58/cwt, down $5.04 from last week. The select carcass cutout was down $7.38 from the previous Friday to $173.04 per hundred pounds of carcass weight.
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Cattle Outlook: Drought moves calves to feed yards early
The severe drought in the southern plains is pushing a lot of cows to slaughter and calves into feed yards. Over the last five weeks beef cow slaughter is up over 20% compared to a year ago.
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Cattle Outlook: June beef exports up 19 percent led by Japan
International beef trade continues to be a big factor in this year's record cattle prices. During the first half of 2011, 10.3% of U.S. beef production was exported and imports equaled 8.1% of production.
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Heavy placements of cattle on feed portend future beef production
The USDA's latest Livestock, Dairy and Poultry outlook reports that during the first half of 2011, net placements were 2 percent above placements for the first half of 2010 as drought has pushed cattle off pastures in many parts of the country, and most of these feeder cattle have gone into feedlots.
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