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The Agribusiness Update
The USDA designates 17 Georgia counties as primary natural disaster areas due to severe drought conditions, and America's trade deficit reached $68.9 billion, the highest disparity in almost a year.
Line on Agriculture
USDA's March Prospective Plantings report has corn numbers higher than expected.
The Agribusiness Update
Ready to pick your own blueberries or buy them at the grocery store? Florida’s blueberry season is here, and the USDA, FDA, and CDC announced the detection of Bird Flu in cattle.
This weeks Beef Exports were 15 % higher than the previous week and 4% higher over the month.
Cattle Futures steady following Tuesday’s selloff, as Cash cattle remain resilient.
The selloff continues in the Beef Market, as prices hit 60 day lows.
The Agribusiness Update
The Economic Research Service says the number of U.S. wheat farms has dropped substantially over time, and in 2024, U.S. beef exports are expected to be about 83% lower than 2023.
Traders see a bit of a of correction in the Beef Market following the Cattle On Feed Report last.
Feeder Cattle fell sharply lower last week, as cash cattle prices remain red hot.
The Corn Market picked up some momentum yesterday with export expectations in line with USDA estimates.
The Agribusiness Update
In 2022, farms received 24.1 cents for each dollar spent on food at home and 3.6 cents for each dollar spent on food away from home, and grocery prices held steady in the February Consumer Price Index by the Department of Labor.
Both the Beef and Grain Market fell into the red yesterday as outside markets continue to play a role in commodities.
Finally the Beef Market cools off as Live and Feeders found resistance in front running contracts.
Feeders and Live Cattle hit a bit of a lull last Thursday but finished the week on in the Green.
Cash Cattle continue to trend higher, however Live and Feeder Cattle hit a wall as prices fell yesterday.
The strength continues in the Beef market in all sectors as prices are up over 30% from the past 12 Months.
The Beef Market continues to find momentum as Cash Cattle trend higher.
The Beef Market firms up but fails to break out following stronger Boxed Beef prices.
Live Cattle hit 6 Month High’s Friday, before cooling off to finish the week in the red.
Cash Cattle bring the heat once again, as prices continue to run at all time highs.