Historically small U.S. cattle inventory continues to support high beef prices in 2015, but at least in the short term, increasing imports of processing beef (especially from Australia) and heavy carcass weights have helped moderate some of the price pressures.
The U.S. Department of Agriculture's Animal and Plant Health Inspection Service (APHIS) is amending its regulations to allow fresh beef into the United States from Brazil and Argentina under specific conditions that mitigate risk of foot-and-mouth disease (FMD), the agency said on Monday.
The grain markets traded mixed Monday ahead of the USDA Stocks and Acreage reports tomorrow. After the trade had seen significant weather premiums in the last few weeks, if seemed as profit taking and long liquidation was the theme today. The average trade estimate for June 1, 2015 stocks is 4.557 billion bushels with a range of 4.35-4.7 billion bushels. The June 1, 2014 stocks number was 3.852 billion bushels. The weekly export inspections came in at 1.04 million tonnes, suggesting firmness in demand.
President Barack Obama signed into law on Monday legislation that gives him "fast-track" power to negotiate trade deals and speed them through Congress, but he said he still has a battle ahead to finalize the 12-nation Trans-Pacific Partnership deal.
By By Rachel Endecott, Montana State University Extension
How often have you seen the image below? The Beef Quality Assurance program has done a remarkable job of educating producers and consumers about best management practices, including proper injection sites.
Choice boxed beef prices fell a whopping $1.93 on Monday, hitting $252.60. The decrease brought the 27-day average price to $252.74. Select boxed beef saw a smaller drop from $249.68 on Friday to $249.34 on Monday. The 34-cent fall brought the 27-day average price to $244.90.
All cuts of choice primal meat saw decrease. Choice primal flank fell the hardest at $2.75 to hit $147.70. Chioce primal loin was close behind, falling $3.16 to $337.05. Choice prmail round saw the smallest fall from $230.93 on Friday to $230.05 on Monday.