The U.S. Department of Agriculture is creating a stockpile of avian influenza vaccines, but an expert suggests careful consideration of the strategy and cautions that the strain of the next outbreak is unknown.
Live hog prices fell below $40 per hundredweight last week. This means hog prices are at their lowest level since November of 2009 when the U.S. was just beginning to pull off the bottom of the great recession. The source of the current downturn in prices seems to have components from both supply and demand.
Traditionally, the Thanksgiving holiday is one of the most-traveled times of the year in the United States, and much of that travel is by gasoline-fueled light-duty vehicles (passenger cars and light duty trucks).
Upon unanimous vote by the board of directors of the Global Roundtable for Sustainable Beef (GRSB), Dennis Laycraft, executive vice president of the Canadian Cattlemen’s Association, was elected as the 2016 president of the global organization. Also voted in to GRSB leadership positions were Carlos Saviani, World Wildlife Fund, elected as vice president, and Cameron Bruett, JBS, elected as an Executive Committee member-at-large.
Live cattle futures posted triple digit losses on Tuesday, giving back most of Monday's recovery effort. Cutout values were stronger on Tuesday, needing to see follow through strength today to confirm a possible seasonal bottom in the beef market.
The market is very choppy and not showing any clear direction. We often see strength around the Thanksgiving holiday and with the large net short position that the funds are holding, there is plenty of room for short covering.
Meanwhile, a slow-moving cold front located this morning over the northern Plains will begin to interact with an upper-air disturbance currently producing rain and mountain snow over the west, leading to heavy precipitation (2 to 8 inches liquid equivalent, locally more) from central Texas into the Corn Belt by week’s end.
Total red meat supplies in freezers were down 3 percent from the previous month but up 21 percent from last year. Total red meat is a record high for the month of October, since the data was first recorded in 1916.