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Crude by rail receipts continue to be an important source of supply for West Coast refiners

This week in Petroluem has previously examined crude oil supply patterns on the West Coast, noting the increase in unaccounted-for supply, and then linking the increase to movements of crude by railroad. EIA’s recently launched crude-by-rail data enable a more detailed analysis of emerging crude oil supply patterns on the West Coast. The data indicate that most crude-by-rail deliveries into PADD 5 are destined for refineries in Washington state, and that despite recent delays in crude-by-rail projects in California, refineries in the San Francisco and Los Angeles areas are not entirely without access to domestic crude oil from other regions.

Markets

Wheat ends Thursday on a mixed note

Traders seemingly thought Wednesday’s grain losses were overdone today. Corn and wheat futures tumbled yesterday in apparent response to forecasts for drier weather next week, with the yellow grain decline putting the market at its lowest levels since last October. Talk of firm spot quotes as farmers work fields and ignore old-crop sales seemed to spark renewed bullishness. July corn futures rallied 4.0 cents to $3.535/bushel at Thursday’s close, while December added 3.25 to $3.70.

Industry

Technology helping us follow the food path

It is amazing to see such an array of meats available in today’s grocery stores. Traveling across the country in my role at USDA, I hear from so many folks that want to know where their beef comes from, what the animal was fed or how was it raised. I also know farmers have a real commitment to their crops and animals and are happy to share their stories with customers.

Markets

Boxed Beef Report: Beef prices drop

Choice boxed beef is down 58 cents on Thursday to $260.18. The drop brought the 27-day average price to $260.19. Select boxed beef dropped much harder from $250.10 on Wednesday to $248.48 on Thursday. This $1.62 fall brought the 27-day average price to $248.43.

Choice primal rib fell  by $3.31 on Thursday to hit $378.87. Choice primal brisket and choice primal flank were the only cuts that saw increases on Thursday, rising one cent and nine cents, respectively.

Markets

Soy complex mixed Thursday morning

Traders seemingly think Wednesday’s grain losses were overdone. Corn and wheat futures tumbled yesterday in apparent response to forecasts for drier weather next week, with the yellow grain drop putting the market at its lowest levels since last October. Talk of firm spot quotes as farmers work fields and ignore old crop sales seemed to spark renewed bullishness. July corn futures rose 3.0 cents to $3.525/bushel late Thursday morning, while December added 2.25 to $3.69.

Markets

BMC: Nebraska, Kansas and Texas account for 59 percent off the cattle slaughtered in the U.S.

Commercial cattle slaughter during 2014 totaled 30.2 million head, down 7 percent from 2013, with federal inspection comprising 98.4 percent of the total. The average live weight was 1,330 pounds, up 16 pounds from a year ago. Steers comprised 51.8 percent of the total federally inspected cattle slaughter, heifers 28.2 percent, dairy cows 9.5 percent, other cows 8.6 percent, and bulls 1.8 percent.

Markets

Despite strong gains, feedlot margins remain negative

Volatility continued for cattle feeders last week, with margins improving more than $70 per head. Unfortunately, feeders are still losing nearly $113 per head and are projected to remain in the red for the rest of 2015, according to John Nalivka with Sterling Marketing, Inc.

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