The cash fed trade was almost non-existent ahead of the September Cattle on Feed report last week. By close of trade Thursday, not even 3,000 head had been confirmed sold. On the Fed Cattle Exchange, four lots totaling 775 head of mixed steers and heifers from Kansas sold for $110-110.50.
Last Wednesday, the House of Representatives’ Agriculture Committee’s Subcommittee on Oversight and Investigations held a public hearing on the federal government’s management—some said mismanagement—of wolves. Two vastly different visions of reality were presented at the hearing.
In “Effect of antimicrobial use in agricultural animals on drug-resistant foodborne campylobacteriosis in humans,” researchers from the Medical University of South Carolina reviewed existing literature to assess the existing evidence regarding the...
Cash cattle traders were sitting on their hands last week after the prior week’s precipitous fall. By Thursday afternoon, not even 3,000 head had been reported sold, this not including the almost 1,000 head that sold at auction via the Fed Cattle Exchange.
But, while potent, auctions are not the only form of cash price discovery. When it comes to the fed cattle markets, auctions are almost unheard of—the Fed Cattle Exchange notwithstanding (see the story on this issue’s cover)—and concern over negotiated cash fed trade grows as its volume declines.
Ten lots of steers and one heifer lot ranging from New Mexico to the Corn Belt were offered for sale. Some lots didn’t sell, but at the end of the rapid-fire sale almost 1,000 head had been sold at prices ranging from $105-108.
“Become an agvocate,” they say to farmers and ranchers. “Tell your story. Agvocate!” It is indeed valuable to tell the story of agriculture. Market research repeatedly finds consumers trust farmers and ranchers above most other sources when it comes to information about food.
Shawn Darcy, NCBA’s Associate Director of Market Research, reported that a slim majority—51 percent according to a recent study by Deloitte—of consumers are starting to consider “evolving drivers” of purchasing decisions as important alongside price and taste.
Cash fed cattle trade started up on Wednesday last week, the second day of the short week. Wednesday’s trade saw over 12,000 head sold at $104-106 live and $170 dressed. These numbers represented the low end of the prior week’s ranges.
Preconceived notions about food can drastically change a consumer’s mind. Offer a young child broccoli to eat and they might reject it. Offer that same child “little trees” and they might suddenly enjoy it. The same apparently holds true for consumers and beef.
It was more than a bit of a crazy week last week for the markets. Not only did the cash fed cattle market see large volumes of cattle trade every day of the week starting Monday. By close of trade Thursday, over 85,000 head had sold at painful prices..
In “Affective beliefs influence the experience of eating meat,” published recently on the open-access online scientific journal PLOS One, Researchers Lisa Feldman Barrett and Eric Anderson asked whether or not consumer beliefs about the conditions in which animals were raised affected their perception of the meat.
Last Monday, new Federal Aviation Administration (FAA) regulations on commercial drone use went into effect. While the regulations seem to put a number of restrictions on commercial drone operation, they have been described as making commercial drone operation easier compared to previous efforts at regulation.
To someone with no connection to agriculture, all bovine animals are “cows” regardless whether udders or testicles hang between their back legs. To a rancher, “cows” are adult female cattle that have calved. Same word, but different worlds make for different meanings.
Things were ugly last week, particularly in the cash fed cattle markets. After the prior week’s $118 live and $186 dressed prices, last week’s $113-115 live and $179- 183 dressed prices came as a stinging slap. Analysts had predicted the week would see lower prices, but it’s unclear if they expected things would go that low.
Reality disappointed early-week projections of a strong-steady cash market last week. By close of trade last Thursday, over 78,000 head had been confirmed sold at prices ranging from $116-118.50 live and $185-187 dressed. These levels were down from the prior week’s $117-120 live and $186-188 dressed ranges
The summer heat makes it hard to remember that the upcoming—impending?— November election is just around the corner. Congress is still at recess and the presidential nominees continue to lob insults at one another, but it is not too early to check in on state issues.