The Farmer's Weblog
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Monday, January 6, 2003 |
If the wrong team won the New Year[base ']s bowl game, cattle feeders were smiling by the next day as the markets moved higher. Slaughter cattle prices were $2 higher in the southern plains, with the bulk of the trade occurring at $75. Prices were $3 higher in the north with slaughter cattle prices at mostly $118 dressed. Boxed beef prices were a little lower for and the Choice-Select spread narrowed. Feeder cattle prices were generally steady in Kansas and Nebraska for 700 lb and heavier cattle but calf prices were higher.
5:23:29 PM
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Similar to the cattle outlook, hog producers will see smaller supplies and higher prices in 2003 and into 2004. Liquidation of the sow herd this past year translates into a year-to-year decline in the supply of market hogs and pork production in 2003. As a result, producers will see a dramatic return to higher prices for market hogs in 2003.
5:19:07 PM
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The forecast for 2003 and 2004 looks brighter for cattle producers as smaller cattle numbers should lower beef production, supporting higher cattle prices. Going into next year, the key factors impacting cattle prices will be competing meat and poultry supplies, foreign demand, feedstuff costs, and cattle weights.
5:17:54 PM
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As expected, the monthly USDA-NASS Cattle on Feed report (released December 20th) showed the number of cattle on-feed as of December 1, 2002 was well below a year ago. In the historically reported 7-states, the on-feed inventory was the lowest for December 1 since 1996. At 8 percent below a year ago, the on-feed numbers were about as anticipated, but several of the categories within the report were a surprise to most observers.
5:13:13 PM
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