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Beef margins continued to decline over the first half of July, with weaker cattle prices more than offsetting the impact of lower feed costs, according to the latest CIH Margin Watch report from Commodity & Ingredient Hedging LLC.

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With beef production up, cold storage inventories also rose. Total frozen beef stored in all warehouses as of June 30 was estimated at about 451.2 million pounds, according to USDA’s monthly Cold Storage report, released July 22. The total is up 1 percent from May 31, but down 5 percent from June a year earlier.

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June 2016 beef production, at 2.19 billion pounds, was 10 percent above the previous year, according to USDA’s latest Livestock Slaughter report, issued July 21.

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Cattle and calves on feed in U.S. feedlots with a capacity of 1,000 or more head totaled 10.4 million head on July 1, up about 1 percent compared to a year earlier.

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For the first time in 11 years, the American Association of Bovine Practitioners (AABP) will have a new executive vice president.

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