Live cattle futures were trading fairly sideways last week after the prior week’s rally. But then Thursday trade, which opened in the U.S. following another day of the Chinese stock exchange trading locked down after mere minutes of opening, saw limit-down trade in almost all contracts on the board.
Of all the portions of the country, the Southwest tends to have the lowest pasture and overall farm real estate value (a measurement of the value of all land and buildings on farms). But with low prices comes the potential for opportunity..
Last week, the Ranchers- Cattlemen Action Legal Fund (R-CALF) sent a request to the U.S. Senate Committee on the Judiciary and its Subcommittee on Antitrust, Competition Policy, and Consumer Rights that they investigate the cattle market’s unprecedented decline at the end of 2015.
In the short, pre-New Year’s trade week, cash cattle traded early and sharply higher. By Wednesday afternoon, over 40,000 head had been confirmed sold on the negotiated market at $130-136 live (up $4-14 from the prior week) and $202-212 dressed (up $2-12).
Though cattle slaughter still favors herd growth—steers made up 54.3 percent of total cattle slaughtered in 2015, up 2.4 percent from the same time last year—beef in cold storage keeps climbing. According to the most recent Cold Storage report, the volume of beef in all warehouses stood at 510.
Just before Christmas, Montana Governor Steve Bullock released a decision that has been a decade and a half coming. The result is several hundred thousand acres of public land have been accepted for increased “tolerance zones” for bison migrating out of Yellowstone National Park.
The market year of 2015 was head-spinning in its difference from 2014. While this holds true generally across all sectors of the market, it was most poignantly felt by cattle feeders. The year 2014 was a record up year for feeder cattle prices, 2015 may well prove to be one of the worst down years for cattle feeders.
“Santa Claus does live,” proclaimed Andrew Gottschalk of Hedgers’ Edge on Christmas Eveeve. After weeks upon weeks of downward spiraling markets on almost all fronts, last week saw a turnaround in both futures and cash markets. That Christmas market miracle may well have happened.
As the year comes to a close, there are some stories and issues that stand out more than others. The year 2015 was dominated by politicking, regulations, and courtroom battles. Endangered species fights and pushback against federal agency overreach seemed to be the order of the year and will certainly set the stage for 2016.
The markets continued lower last week, with the cash and futures markets of both live cattle and feeders, as well as wholesale beef, heading downward. By Thursday afternoon over 61,500 head had been confirmed sold on the negotiated market of the week. Live steers traded for $114-117, down from the prior week’s $115- 119.
(EPA’s) promotion of its Clean Water Rule—more popularly called its Waters of the U.S. (WO- TUS) rule—during 2014. The GAO ruled that the EPA engaged in prohibited propaganda and lobbying in a pair of its social media campaigns surrounding promotion of WOTUS.
In last week’s coverage of Rep. Greg Walden’s (R-OR2) draft bill to legislate the Klamath Basin Restoration Agreement (KBRA) and the Upper Klamath Basin Comprehensive Agreement (UK- BCA), the issue of dam removal came up.
It might be time to start praying for that Christmas miracle in the markets this year, because things are ugly and just keep getting worse. Cash cattle and feeders were down, futures for both live and feeders were down, and wholesale meat prices were the relative bright star at a weak steady.
in the Klamath Basin of Oregon are at stake as the year counts down to Dec. 31. A pair of hard-won agreements regarding water usage in the area between local tribes, irrigators, and other stakeholders will effectively expire if Congress does not act.
Cash cattle trade got underway early, though at disappointing prices, last week. By Thursday, over 80,000 head had been confirmed sold at $122-125 live and $189-198 dressed; these prices being at the low end of the priorweek’s range for live, and being both below and above the prior week’s range for dressed.
Proposed reform bill allocates more money for states Federal ownership of land is nothing new to the West. Across the nation, federal agencies own more than one out of every four acres. In states like Nevada and Utah, that number is more like four out of every five.
Last week was something of a breath-catching week for the cattle markets after weeks of extensive volatility. But the holidayshortened week played some mischief with the markets as short weeks often do. Despite having a shortened kill week, packers were buying for a full production week for this week.
Last week saw the release of three beef-relevant market reports. While the Cattle on Feed report was almost ironically neutral considering the recent weeks of extreme volatility in the cattle and beef market, the Livestock Slaughter and Cold Storage reports continue to show the impacts of the market.
In the afternoon of Thursday, Nov. 19, the U.S. Food and Drug Administration (FDA) announced it had granted approval for the first genetically-modified animal for human consumption, the AquAdvantage salmon. The move was a milestone in the history of genetic modification (GM) technology, and was almost two decades in the making.