World Perspectives
livestock

Fed Cattle Near Term Supply and Demand

Fed cattle prices remain at record levels, but the market has been bearish with dropping futures and a weak cash market; prices dropped last week about $2 live and $4 dressed.  In the first four months of last year, cattle prices climbed steadily and hit their highest level in April, dropping in May, and recovering in June. Prices climbed steadily to end March above $189/cwt, but after the first two weeks of April, it’s clear that 2024 peak prices will not be set this month. 

With reduced cow slaughter this year, weekly slaughter has been near or below the 600,000 head level for much of the year. Also, despite lower cattle prices, processors are having difficulties maintaining margins and slaughter is all they can leverag...

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Summary of Futures

May 26 Corn closed at $4.465/bushel, up $0.0075 from yesterday's close.  May 26 Wheat closed at $5.74/bushel, down $0.0325 from yesterday's close.  May 26 Soybeans closed at $11.705/bushel, up $0.065 from yesterday's close.  May 26 Soymeal closed at $314.7/short ton, up $1.8 from...

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From WPI Consulting

Forecasting developments in production agriculture

On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.

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