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Feedlot losses mount

Cattle feeders didn’t get any relief last week as they saw margins fall even deeper in the red, according to the Sterling Beef Profit Tracker

Industry

Jolley: Five Minutes with Mack Graves and what’s ailing America’s beef business

Mack Graves is 30 year veteran of the meat business. He did his time on the packing side, serving as President and CEO of Coleman Natural Meats, Inc., interim CEO of Meyer Foods, and CEO, Senior Advisor and Board Member of Panorama Meats. He now speaks nationally and internationally on meat and poultry marketing issues. Because he’s recognized as an expert in the natural and organic meat and poultry industries, industry people tend to listen to him.

Markets

Export news supports soy complex on Monday

Corn slipped to fresh 2015 lows Monday. Weather forecasts point to a sustained Midwest dry spell into early May, which could allow spring corn plantings to surge, thereby potentially improving autumn yield prospects. Concerns about the bird flu outbreak and its impact upon feed grain demand also encouraged early-week selling, with the net effect being a corn futures drop to fresh 2015 lows. May corn futures slid 3.75 cents to $3.6075/bushel in late Monday action, while December lost 5.0 to $3.8325.

Markets

Boxed Beef Report: Beef prices drop to start the week

Choice boxed beef prices saw a drop from $258.78 on Friday to $256.73 on Monday. This $2.05 decrease brought the 27-day average price to $255.74. Select boxed beef saw a similar decline, dropping $1.87 on Monday to hit $247.41. 

Choice primal flank saw a huge decline on Monday, hitting $145.57 after a $6.58 drop. The 27-day average is now $152.15. Choice primal rib was right behind this with a $5.47 drop. Choice primal loin saw the lowest decrease, dropping only 65 cents to $347.62.

Markets

Corn slips to fresh 2015 lows Monday at midday

Corn slipped to fresh 2015 lows Monday morning. Weather forecasts point to a sustained Midwest dry spell into early May, which could allow spring corn plantings to vault ahead, thereby potentially improving autumn yield prospects. Concerns about the bird flu outbreak and its impact upon feed grain demand also encouraged early-week selling, with the net effect being a corn futures drop to fresh 2015 lows. May corn futures slid 2.5 cents to $3.62/bushel late Monday morning, while December lost 4.0 to $3.8425.

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