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Market Reports

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

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0211pc_marketreport_1Holiday interruptions did not stunt the demand for beef cattle, with all classes continuing to gain ground. Year-end market activities tend to scare beef producers as fears of Christmas 2003 (BSE outbreak) are rekindled and folks remember just how vulnerable prices are to the public’s perception of our product.  However, massive herd reduction has put a bullishness to the supply-side which is far outweighed by demand as exports continue to inch closer to regaining what was lost seven years ago. Unforeseen factors seem to be the only ones to threaten these inflated markets, since fundamentals appear almost invincible. Many industry members expect extremely tight supplies to culminate in 2011, which could result in all-time record high prices at every level of production.

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October was a very strong month for U.S. red meat exports, according to results compiled by the U.S. Meat Export Federation (USMEF). Beef exports achieved their second-highest value of the year at $375.3 million (trailing only June's $377.6 million), surpassing the September total by 11 percent and beating October 2009 by an impressive 37 percent.

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feedlot_regCattle and beef markets across the board have jumped sharply in the past several weeks and both Live Cattle and Feeder Cattle futures prices suggest that the industry is in for an extended period of largely unprecedented cattle prices.

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The National Cattlemen’s Beef Association commended members of the U.S. Senate who sent a letter to Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., urging them to allow the 30-year-old tax credit and protective tariff for corn-based ethanol to expire as scheduled on Dec. 31, 2010.

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0111pc_marketreport_1November saw cattle markets continue to account for the two contrasting factors on the forefront this fall; extremely high and highly volatile grain and feed costs – versus - tight supplies of beef cattle at every level of production and the expectations that the availability of stocker calves next spring will not be nearly enough to meet demand.

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Except for a brief retreat in early October, corn, soybean, and wheat prices were in a steady uptrend from June 30 through Nov. 9. December 2010 corn futures increased about 70 percent, while January 2011 soybean futures and July 2011 wheat futures increased about 50 percent.

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