New Beef Signs Have Arrived
The first set of beef signs has been customized and is ready to be installed at farms, auction markets, and businesses around the state. The 4' X 8' metal beef signs are available from the Mississippi Beef Council for only $100 each. For details, contact the Beef Council office at 601-353-4520 or missbc@bellsouth.net |
| Farm Bureau Beef Commodity Conference
Farm Bureau members attending next week's Commodity Conference at Hinds Community College will hear NCBA Issues Management Director Rick McCarty discuss the growing threat from radical animal activist organizations intent on destroying animal agriculture.
The Conference will be held on Thursday, June 26at the Central R & E Center in Raymond. |
High School Rodeo Scholarships
The Mississippi Cattlemen's Foundation presented $1000 scholarships to Lionel Brown of Natchez and Clay Curry of Centreville. The Foundation Scholarship Program is funded by the sale of "Cattlemen's" car tags. | |
| Mandatory COOL Rules
Rules implementing mandatory country-of-origin labeling for beef, pork, lamb, and goat meat were forwarded by USDA to the Office of Management and Budget (OMB) last week. These rules are due for release in July, with mandatory COOL set for implementation by September 30, 2008. The labeling of meat products will consist of four separate categories:
1. Product of the United States: Product that is born, raised and processed within the U.S. and is from animals that have never crossed the U.S. border.
2. Multiple Countries of Origin: Product that might have been born in another country, but is raised and processed in the U.S. and will carry a label listing all the countries involved.
3. Imported for Immediate Slaughter: This label would include all cattle that are imported into the U.S. for processing only and would, like those with "Multiple Countries of Origin," carry a label listing all the involved countries.
4. Foreign Country of Origin: This label is for all fresh beef that is imported into the U.S. and will only list the product's country of origin.
The Farm Bill compromise language simplifies record-keeping requirements for producers, by instructing USDA to only require documents that would be used in the "normal conduct of business" to prove origin. These documents include animal health papers, import or customs documents, and tax documents. Livestock are also grandfathered as part of the domestic herd if they are in the country as of July 15, 2008. |
| Wait Continues on Korean Trade
A month has passed since the originally announced (May 15) date for reopening beef trade with South Korea. Due to protests and political unrest in Korea, the market opening has been postponed several times - with no clear timetable in sight.
Five U.S. packers have announced a voluntary age labeling program for beef being shipped to South Korea, in an attempt to address safety concerns. The overwhelming majority of beef shipped to South Korea in the past was from cattle under 30 months of age, even though no age restrictions were in place prior to 2003.
Recent news reports have suggested that Korea is pushing for stricter measures than the voluntary labeling program - possibly a total prohibition on meat from cattle more than 30 months of age.
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Live Animal Imports Up
The importation of Canadian cattle into the United States was up 31.5 percent through May (with a 68 percent increase in feeder cattle imports more than offsetting an 11 percent drop in slaughter steer and heifer imports), according to Daley. Imports of live Canadian hogs were up 14 percent (with feeder imports up 19 percent, slaughter up 4.5 percent) through May. Live animals imported prior to mid-July can be declared as U.S. origin under the Country of Origin Labeling (COOL) requirements, which will come into effect at the end of this year. U. S. imports of Mexican feeder cattle are down 31 percent compared to January-May last year. |
Cattlemen Urge Senate Committee to Re-evaluate Renewable Fuels Policy
Livestock producers were dealt more harsh news this week with regard to feedgrain supplies. Persistently wet conditions in parts of the Midwest have worsened, with some areas suffering catastrophic flooding. These events continue to paint a very dark picture for fall grain harvest projections, intensifying pressure on feedgrain prices and supplies. USDA is now projecting a significant decline in the per-acre yield for corn, on top of a reduction in corn acreage. These events have put tremendous price pressure on all users of corn, as corn futures for all upcoming months have shot past $7 per bushel.
"Cattlemen are now looking straight down the barrel of $7 corn, and that may just be the beginning," said NCBA Chief Economist Gregg Doud. "We already saw a lot of acres migrating away from corn this year, and that was before the wet spring pushed into June. By the time conditions improve in many of these fields, planting corn will no longer be an option." | |
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Cattle Market Notes
Friday, June 13, 2008
Dr. John Anderson
Mississippi State
University
Last week's 5-Area weighted average live steer price worked out to $94.00, $1.18 lower than the prior week. Feeders in Kansas, Colorado, and Nebraska unloaded cattle at $93 to $93.50 - off $1 from last week.
At Oklahoma City, prices on feeder cattle under 800 pounds were steady to $2 lower. Prices on heavier feeders were steady to $2 higher. At Lexington, Kentucky, feeder steer prices were $2 to $4 lower; feeder heifer prices were $2 to $3 lower. Stocker steer prices were steady to $3 lower, with the full decline on light weights; stocker heifers were steady to $5 lower, again with the full decline on light weights.
At Mississippi auctions this week, prices on steers were $2 to $5 lower; and prices on heifers were $2 to $6 lower. For the week, feeder steer prices in Mississippi were as follows: 250-300 pounds, $120-$130; 300-400 pounds, $110-$120; 400-500 pounds, $100-$111; 500-600 pounds, $100; 600-700 pounds, $90-$100; 700-800 pounds, $88-$100.
Live Cattle futures closing prices on Friday (with change from last Friday's close in parentheses) were as follows: June $95.57 (+1.72); August $102.27 (+2.07); October $109.72 (+2.30); December $111.47 (+2.17); February $113.45 (+2.85).
Feeder Cattle futures had another pretty rough week this week. Despite the respectable gains in Live Cattle contracts, a surging corn market kept steady pressure on Feeder Cattle. Feeder Cattle futures closing prices on Friday (with change from last Friday in parentheses): August $109.15 (-3.10); September $111.25 (-2.20); October $111.90 (-2.42); November $111.90 (-2.50); January $111.40 (-1.10).
This week's WASDE report dropped expected corn production to 11.735 billion bushels. Ending stocks are projected to be drawn down to under 700 million bushels by the end of the 2008/09 marketing year. This is a ridiculously small number - less than 3 week's worth of corn at current levels of use. Earlier this year, people speculated over the effect of $5 corn on livestock production. Now, we have to try to figure out what $7 corn means. July Corn closed on Friday at $7.31 ¾, up 81 cents for the week. |
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Don't Miss NCBA's Cattlemen to Cattlemen- On this week's episode, airing Tuesday, June 17th, at 7:30 p.m. learn more about fly control on your operation from sponsor Bayer Animal Health. You will also learn more about some great new beef products that are now available in both retail and foodservice outlets. Plus, Cattlemen to Cattlemen takes a spin around the Caterpillar Skid Steer Obstacle Course! The Program's sponsors include Purina Mills, Fort Dodge Animal Health, Dow AgroSciences, Bayer Animal Health, and McDonald's. |
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Calendar of Events
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19 Pike CCA
23-25 Making Tracks
24 4-H Beef Cookout
Contest, Winona
25 4-H Beef Cookout
Contest, Gallman
25 Statewide Dairy
Field Day, Tylertown
26 Farm Bureau
Commodity Conf.
July
10 BQA Meeting,
Tylertown S/Y
24 BQA Meeting,
Grenada S/Y | |
