INDUSTRY NEWS

The USDA has updated three key crop insurance options for livestock producers: the Dairy Revenue Protection (Dairy-RP), Livestock Gross Margin (LGM) and Livestock Risk Protection (LRP).

This past week, the U.S. Federal Reserve voted to raise a key interest rate by a half point. This has received a noticeable amount of attention because it is already the second rate hike this year and the largest one-time increase since 2000.

The debate over greater price transparency headed to Washington in late April, as both the Senate and House Agriculture committees held hearings on proposed legislation mandating more cash price trade in beef markets.

Progressive Publishing is pleased to announce that Tyrell Marchant has joined Progressive Cattle’s editorial team. He joined Progressive Publishing in late April and will oversee grazing and nutrition/feed content as well as news coverage.

The cattle markets bring a mix optimistic and caution news. Fed cattle prices are at levels not seen since mid-2015. The substantial heifer composition of FI fed slaughter and the reasonably aggressive beef cow slaughter and liquidation clearly communicates the tightening future beef supplies.

The latest Cattle on Feed report showed a record April feedlot inventory of 12.1 million head, up 1.7% year over year. The quarterly inventory of steers on feed was up 1.8% year over year, while the inventory of heifers on feed was up 1.7% over one year ago.