Today’s WASDE increased the price outlook for 2024 fed steers after dropping it in September. The September WASDE dropped the fed steer price by $3/cwt to $185.11/cwt from the month prior. Today the price forecast was adjusted up $1/cwt. The forecast for the 2025 annual average was also adjusted up by $1/cwt to $187/cwt, but that is still down from $191/cwt forecast in August. Forecast prices were up for all species, but only marginally.
Packers enjoyed positive margins in August and September, but early October saw red ink, thus this week’s bullish cutout was timely, but packers this week were forced to bid $1 more for cattle. Cattle prices have rallied back above 2023 levels, and thus returned...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
