Markets were turbulent last week as interest rates continued their sprint higher and the Federal Reserve looks to curb inflation. But with harvest season upon the U.S., crop markets will be focused on yield reports for the foreseeable future.
Cattle markets and livestock economists are parsing through the latest cold storage numbers. University of Tennessee ag economist Andrew Griffith says there is some nuance needed when comparing the situation to last year.
Recent data continues to indicate any expansion in the cattle industry is months away.
An interest rate hike from the Federal Reserve poses another uncertain factor for equity and agriculture markets, as consumer demand is expected to wane. However, global issues continue to be the major driving factor in the markets as U.S. harvest gets underway.
Beef exports continue to run higher than a year ago, based on the latest data. University of Tennessee ag economist Andrew Griffith says a variety of factors are driving this.
The September Supply and Demand report came as a surprise to some traders. Soybean prices surged when the Sept. 12 report was released as supply figures and yield were lower than expected.
After a midsummer rally, pork cutout values continue their seasonal decline.
After a week of gains, the grain futures market saw prices fall following the Aug. 12 Supply and Demand report, something not entirely unexpected, according to Agrivisor’s Karl Setzer.
While the seasonal expectation is for softer finished cattle and wholesale beef prices before an increase later in the year, the beginning of August provided a bit of a surprise. University of Tennessee ag economist Andrew Griffith says the first week of August saw finished cattle prices go up.
No matter what else happens, every day that passes puts the market a day closer to harvest.
Declining hog slaughter and pork production this summer should come as no surprise to anyone.
An agreement between Russia and Ukraine had crop markets tumbling on July 22, but according to market analyst Jack Scoville, this should just be a one-time drop.
Cow slaughter numbers have been higher this year due to a number of factors, but the rate is still somewhat surprising.
Market analysts are watching to see what impact hot, dry weather in much of the country will have for beef prices as well as fed cattle markets. University of Tennessee ag economist Andrew Griffith says the drought is impacting the supply side.
There are a lot of things happening in the markets right now, but the simple fact that the calendar keeps moving and the crop is getting ever closer to being a reality is the major market factor at play.
The markets did a few gyrations in recent weeks as funds changed their strategy, but for farmers the strategy probably hasn’t changed that much.
The latest USDA Hogs and Pigs report showed a small, mostly expected decline in hog inventories. The Livestock Marketing Information Center said the total hogs and pigs number was down just under a percent from the year before.
Analysts are watching trends in beef packer margins and what impact they could have for cattle markets in the second half of the year. University of Tennessee ag economist Andrew Griffith says while beef packer margins have been very good, they are starting to see them narrow.
Updated acreage figures were the focus of the June 30 USDA report and may be setting the story for markets moving into harvest season.