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Market Reports

Read new forecasts and indicators involving beef cattle and feed markets. Find out what factors are affecting prices.

LATEST

0611pc_peck_1Brazil
The U.S. may lift a ban on fresh beef imports from some Brazilian states this year, according to a Brazilian official.

“There are well-founded reasons to believe the situation may be solved by the end of this year,” Emilio Garofalo, secretary of the government’s Foreign Trade Chamber, said in an interview from Brasilia.

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National Feeder Cattle Summary for May 27

0611pc_marketreport_1All publicly traded commodity markets experienced a massive sell-off with the onset of May, which coincidentally or otherwise matched the timing of Osama Bin Laden’s demise. Regardless, speculative investors began moving their money out of oil and agricultural products and reinvesting in an assortment of money markets.

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feedlot_regUSDA-NASS released the May Cattle on Feed report on May 20. Cattle continued to pour into feedlots in April, with cattle and calves on feed in feedlots with capacity of 1,000 or more head totaling 11.2 million head on May 1, up 7.4 percent from last year. The trade had estimated a 6.5 percent increase from last year.

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May feeder cattle futures prices have dropped about $10/cwt since the beginning of April despite nearly a $1/bu drop in May corn futures prices during that time. The weakness in feeder cattle prices resulted from an almost $12/cwt drop in live cattle prices in the past six weeks. Thus, projected losses on current placements are in excess of $100/head. Placements in April, though, would have had somewhat better projected profit prospects. This Friday's Cattle on Feed report is expected to show April placements up around 6 percent compared to last year.

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