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%.
In a hearing with the Environmental Protection Agency on Feb. 11, members of the House of Agriculture Committee discussed with EPA Administrator Gina McCarthy on the agency’s impact on the rural economy.
On Thursday, Feb. 11, Rep. David Rouzer (NC-7), Chairman of the House Agriculture Livestock and Foreign Agriculture Subcommittee, held a hearing to examine the preparedness of the United States in the event of the introduction of foot and mouth disease (FMD) into the country.
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.