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.
There was a bit of a lull in the markets last week, almost as though the relative revelry of the markets in the last few weeks took a slight breather to look around. Announced changes to the futures market and the anticipation of the August World Agricultural Supply and Demand Estimates report likely clouded the market’s upward momentum.
The study—led in part by Bridgett vonHoldt of Princeton University and Robert Wayne of University of California, Los Angeles—focused on the evolutionary and genetic background of wolves and coyotes in the U.S. and Canada. Researchers sequenced 28 different canine genomes looking at over 5.
By the close of trade last Thursday, over 14,000 head had been confirmed sold. This was somewhat light, but still likely sufficient to set the trend for the week. Live cattle traded at $118, above the prior week’s $114-117 range, and dressed cattle sold for $187-188, the upper end of the prior week’s dressed price range.
Last Monday, the USDA announced that Brazil had reopened its market to U.S. beef. Beef trade from the U.S. to Brazil was halted in 2003 following the U.S.’ first bovine spongiform encephalopathy (BSE) case. Also included—but downplayed—in the announcement was the detail that the U.