A couple months ago the Utah legislators in the House Natural Resources, Agriculture and Environment Committee passed HB276, The Utah Public Lands Act, which would create the Utah Division of Land Management.
Having another marketing option available will be exciting to watch but the big question mark is: Will the Southern Plains feeders use it? They have cited transaction costs as their main motivation for using the formula pricing system. It will be key for this new market to establish a certain amount of volume to make this thing work.
It hasn’t been much fun to sit back and watch the cattle market erode, especially after such a tremendous high last fall. Now that the markets have fallen, it appears that they are looking for the summer low; where they go, no one really knows. But, at these levels, we’re going to have to figure out how to make this thing work again.
Here we go again. Ranchers-Cattlemen Action Legal Fund (R-CALF) just filed suit against USDA citing First Amendment free speech rights over the Montana Beef Council’s advertising efforts to promote beef. Bill Bullard, CEO of R-CALF, and our old friend, J.
boxed beef cutout values moved sharply higher last week to $224.43, which is signaling the start of the spring rally. Packers have also started to increase slaughter levels in preparation for the upcoming demand. This seasonal trend should allow cattle feeders to CROW.
Looking at the cattle futures markets down the road, it’s a little hard to get excited about feeder cattle through summer and fall. The June live cattle contract was at $132 and August is trading at $117.65. We need to see a good rally on the futures and cash markets so cattle feeders.
“We are filing this petition to force unelected bureaucrats to follow the law,” said PLF Staff Attorney Jonathan Wood. “This illegal regulation imposes onerous regulatory burdens on property owners and small businesses, and ultimately hurts the very species it purports to protect.
Last week Rep. Lamar Smith (R-TX), Chairman of the House Science Committee, challenged a study produced by the National Oceanic and Atmospheric Administration (NOAA). The NOAA study was in conflict with another study that claimed there was less global warming between the years 2000-2015 and it was less than scientists expected.
I’ve been traveling to a lot of bull sales around the western U.S. during the past few weeks. For the most part the sales are off a bit but the quality of the bulls is much better. It has also given me the opportunity to visit with a lot of public land ranchers to find out how they are getting along CROW.
I typically don’t comment on political races but this year’s primaries are exceptional so I’m going to make an exception because it’s all I can think about this week. I don’t want to offend anyone in either party, but you have to admit that these primary races for the next.
He did it again. President Barack Obama locked up another 1.8 million acres in Southern California under the Antiquities Act, and this president has given monument designations to a staggering 260 million acres of land and water— that’s 406,250 square miles.
Heavy snows moved through cattle country and slowed trade and transportation to a crawl. Several packers closed plants or ran only one shift, which is more common that you think. But at press time it appeared that markets were going to move higher this week.
There is a clear agenda that has been set by the federal government over our so-called public lands or federal lands; whichever name you prefer. The battle lines were drawn up with the passage of the Federal Land Policy and Management Act of 1976. This, in retrospect, has created an all-out.
One of the more lively discussions was about source verification, which is absolutely needed for the U.S. to sell beef to China—a country that provides a huge consumer market for beef and will be needed to maintain profitable live cattle prices at the upper end of the trading spectrum.
I’m sure cattle feeders will be happy to see 2015 come to a close. It was by far the toughest year ever for cattle feeders. Jim Robb at the Livestock Marketing Information Center (LMIC) and I were trying to figure out what kind of year cattle feeders had, the LMIC calculated the average loss on fed cattle was $295 per head, and with 23.
The CME is a private marketplace with a board of directors and shareholders, who expect a return on their investments. They are in the business of conducting a trading platform for a variety of markets. As far as they’re concerned, the more contracts the better.
World Trade Organization (WTO) allowed Mexico and Canada tariff relief over country-oforigin labeling (COOL) last week. The WTO ruled several times against the COOL law, which violated U.S. trade obligations and discriminates against Canadian and Mexican CROW.
After last week’s disappointing futures trade I’m sure that everyone is asking where the bottom is in this cattle market. The week after Thanksgiving usually produces a rally on live cattle as packers gear up for Christmas, one of the best demand times of the year.