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Daily livestock commentary, marketing recommendations, and market outlook.
The latest monthly Cold Storage report counted 410.3 million lbs. of beef in frozen warehouses at the end of June. That was -11 million from the prior month. This was a steeper drop than the five year average of -5 for that month. Given lower production, that is reasonable and likely not market moving.
Continue reading →Light fund short covering may be continuing, strong exports, active resistance in the 420s
Continue reading →Today's weekly release of the Actual Slaughter report detailed meat production statistics for the second week of July.
Continue reading →Weekly beef export sales came to 13,383 tonnes last week. This was -37% vs. last year. Year to date sales are -7% vs. last year. Sales are on USDA's current goal of -7%. However, it must be noted the recent trend of -37%, -26% the week before and -16% the week before are lightly concerning.
Continue reading →309,319 tonnes were sold in this week. The trade estimate was 300,000 - 625,000.
Continue reading →With shipping included Brazil generally has a price advantage for both old and new crop delivery.
Continue reading →Weekly export sales today cover Fri 7/12 – Thu 7/18 activity. For near term delivery, with shipping included, the US and Brazil are near parity. For new crop the US has an advantage.
Continue reading →The Bureau of Economic Analysis released its first estimate for the completed Q2 this morning. This will be revised again on August 29 and September 26.
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