Compared to last week, calves traded unevenly steady and mostly within a range of 5.00 lower to 5.00 higher. Yearlings sold mostly steady to 5.00 lower. Support was found in auction markets especially on 500-600 lb long time weaned calves and light yearlings with condition that will allow them to perform well in a feedlot, growing yard or on pasture.
U.S. beef imports were down 35.2% in December at 186.2 million pounds. Over half of the decline was in beef imported from Australia. December imports equaled 9.1% of U.S. beef production. For all of 2015, beef imports were up 14.4%.
Demand for bank loans, loan extensions and renewals is surging among U.S. farmers, and farm incomes are forecast to fall for a third year, as grain and livestock prices remain stubbornly low, according to reports from Federal Reserve Banks on Thursday.
The CME Group has proposed a number of recent changes in an effort to resolve instability seen in cattle markets. National Cattlemen’s Beef Association (NCBA) officials say the moves aren’t addressing the problem areas and more communication is needed between the organizations.
U.S. pork exports posted a strong finish in 2015 as December volume was the largest since April and the third-largest of the year, according to data released by USDA and compiled by the U.S. Meat Export Federation. Beef exports were below year-ago levels in December and posted the first full-year value decline since 2009.