- Post-Thanksgiving pull back-how long will it last
- Restaurants & food consumption with COVID
- Dry weather & its effects on wheat
- Is China blamed for recent global prices?
CLOSINGS & CANCELLATIONS
Grains and livestock start a holiday shortened week well within the green. South American weather is still dry and demand looks strong. These fundamentals continue to feed the soybean bulls. With continued strength in the soybeans the broader grain complex is moving higher with positive sentiment. Mike Zuzolo joins the Fontanelle Final Bell on Monday and outlines what can continue to support these bullish fundamentals. Zuzolo also highlights what data could swing the market to sell into current overbought signals.
Zuzolo also breaks down what farmers and ranchers should be watching in the energy market. 2021 already holds a lot of unknowns that could impact energy production and demand. Therefore ag producers need to be aware of their fuel needs and how they can address that risk.
The Fontanelle Final Bell ends on a livestock note with discussion on how protein demand could be different this holiday season.
Catch the full program here:
The November cattle on feed report showed all cattle on feed in the US jumped 1% higher. Placements finally dropped in the monthly report after seeing several months of higher placements. However total cattle on feed was a strong number above analyst expectations. So the supply side of the market looks to be well funded with possible disruptions in the demand on the way.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on November 1, 2020. The inventory was 1 percent above November 1, 2019. This is the highest November 1 inventory since the series began in 1996.
Placements in feedlots during October totaled 2.19 million head, 11 percent below 2019. Net placements were 2.13 million head. During October, placements of cattle and calves weighing less than 600 pounds were 570,000 head, 600-699 pounds were 495,000 head, 700-799 pounds were 465,000 head, 800-899 pounds were 387,000 head, 900-999 pounds were 185,000 head, and 1,000 pounds and greater were 90,000 head.
Marketings of fed cattle during October totaled 1.87 million head, slightly below 2019.
Other disappearance totaled 63,000 head during October, 7 percent above 2019.
|November Cattle on Feed||November 2020||Est.||Range of Estimates|
Jerry Stowell with Country Futures calls the report friendly:
You can see the whole report here:
The U.S. Forest Service updated the agency’s National Environmental Policy Act regulations, and the National Cattlemen’s Beef Association and the Public Lands Council are pleased with the changes.
Kaitlynn Glover is the NCBA Director of Natural Resources and Executive Director of the Public Lands Council. She says the announcement is the product of decades of work by livestock producers who have told the Forest Service and other federal agencies for years that NEPA regulations needed serious improvement. “This rule formalizes changes that will allow the U.S. Forest Service to be better partners to ranchers and stakeholders who depend on healthy forests and grasslands,” Glover says. “These are common-sense changes that add clarity by streamlining NEPA processes and ensuring that agencies are not spending time on unnecessarily duplicative NEPA reviews.”
Ag Secretary Sonny Perdue says, “these changes will ensure we do the appropriate level of environmental analysis to fit the work, locations, and conditions.” Perdue notes that the new categorical exclusions will ultimately improve our ability to maintain and repair the infrastructure people depend on to use and enjoy their national forests.”
On September 14, 2020, The National Western Stock Show in Denver, CO announced that due to the COVID-19 pandemic their 2021 event needed to be cancelled. On September 15, the Grand Island Livestock Complex Authority (GILCA) began exploring the potential of hosting a one-time Livestock Show as an alternative to the cancelled NWSS in Grand Island, Nebraska. GILCA’s stakeholders, representing Fonner Park, Nebraska State Fair, Grand Island Chamber of Commerce and Grand Island Tourism, began making plans for The NebraskaN Livestock Show to be held at the Fonner Park/State Fair livestock complex and scheduled for 16 days in January 2021. We have been truly gratified by the overwhelming support for the show from the national livestock community, the City of Grand Island, and the citizens and businesses of Nebraska and planning was well underway.
Unfortunately, we are announcing today that The NebraskaN Livestock Show has become another casualty of the COVID epidemic and will be cancelled. Our priority has always been protecting the health and safety of event attendees and Grand Island residents. We had instituted guidelines and other safety measures that we felt addressed those needs. However, with the rise of the epidemic nationally and the recent guidelines that have been enacted in Nebraska and other states, the logistics of putting on a quality event is no longer possible. It grieves us that we will not be able to host this event for the community of Grand Island, Nebraska. We genuinely wanted to support the national beef cattle industry and the commercial vendors in having an alternative to their traditional January event. All entry fees and vendor reservations that have been received will be returned.
We want to thank all of those that have been involved in the planning and hard work to prepare for The NebraskaN Livestock Show.
This week’s Cattle Call with Brad Kooima looks at the upswing in the cattle market. Is there any surprises in the movement of cattle as we head towards the holiday season? Will it be the cash market to pull the markets along?