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Mississippi Cattlemen's Association
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Miss. Beef Council
Jennifer Houston, Vice President of the Federation of State Beef Councils for the southeastern states, visited the Mississippi Beef Council last week.
Houston reviewed the role of the Federation and the importance of working together to increase demand for beef.
Jennifer and her husband, Mark, operate a stockyard in Sweetwater, Tenn. |
Attention Making Tracks Attendees!
If you applied for Making Tracks and have not received a letter confirming your attendance, please call the MCA office at 601-354-8951.
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Grazing School in Verona
The North Mississippi Grazing School will be held in Verona on June 29th.
Topics will include:
* Rotational Grazing Demonstration
* Electric Fencing
* Financial Assistant Programs for Grazing
* Management
* Weed Control
* Nutrient Management
* Animal Nutrition
* Hay and Beef Cattle Marketing
There is no cost for the program, but pre-registration is required.
Click here for more information and to register online.
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Foundation's Rodeo Scholarship
Albert McBride of Poplarville was the recipient of the $1000 Cattlemen's Foundation scholarship at the High School Rodeo Finals.
The presentation was made by Foundation director Larry Jefcoat and Molly Martin.
Funding for the scholarship comes from the sale of the "cattlemen's" car tag.
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Homeplace Sale
Consignments to the Mississippi Homeplace Feeder Calf Board sale are due by June 29th. The sale will be held at Southeastern Livestock in Hattiesburg on August 6th.
This deadline is necessary in order to get the cattle videoed and have truckload lots advertised prior to the sale.
Download the online application or contact Mike Howell, 662 566 2201 or Mike Keene, 601 606 7382 for more information. |
| Blood Drive
Hinds County Cattlemen's Association will sponsor a blood drive on June 19th to benefit Butch Withers, retired head of the MSU R&E Center in Raymond.
Butch has a serious blood disease and anyone able to donate blood is encouraged to contact any location of a Mississippi Blood Services agent and specify Frank T Withers, code DB94.
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Farm Bill Resumes in Senate
The U.S. Senate returns this afternoon at 2 p.m. to resume consideration of the motion to proceed to S. 3240, the "Agriculture Reform, food and Jobs Act of 2012."
Agri-Pulse reports that Senate Agriculture Committee Chairwoman Debbie Stabenow, D-Mich., and Ranking member Sen. Pat Roberts, R-Kan., will be meeting today to review the over 90 amendments that have been filed thus far.
The duo will try to "determine if in fact we can restore the Senate back to the Senate and actually open up to amendments from members and not get back to the business of legislatively filling the tree," explained Roberts during a Sunday discussion, taped on C-Span, which focused on the farm bill.
Asked to describe his biggest fear about the process, Roberts said it was that "we will get bogged down, and that perhaps, the Senate will revert back to the majority leader - with all due respect - limiting the number of amendments and our side saying, 'Wait a minute, we are not getting an opportunity to offer the amendments we want' and then we go back to spinning our wheels. We just can't let that happen.
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Drought Starting to Impact Prices
Drovers reports that increasingly dry conditions throughout the nation's major cow-calf producing areas has already forced early-movement of cattle off pastures, and dry weather has corn users nervous about the development of this year's crop. Increasing corn prices will pressure replacement feeder cattle prices moving forward.
Cattle feeders were able to add another $1 to the cash trade last week as packers paid up to get cattle moving. Fed cattle traded $1 higher in Texas and Kansas at $122 per hundredweight, and $123 live or $195-196 per hundredweight dressed in Nebraska, also $1 higher for the week. Analysts continue to point toward increasing supplies of fed cattle in the coming weeks.
Boxed beef cutout values ended the week mixed, with Choice up a penny and Select down $2.65 per hundredweight compared to the previous Friday. Choice boxed beef was quoted at $197.26, and Select was pegged at $182.71. The Choice-Select spread ended the week at $14.55.
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Market Notes
June 8, 2012
Dr. John Michael Riley
Cash Cattle:
Cash fed cattle were higher this week by about $1/cwt. Texas and Kansas live prices were called at $122/cwt on Wednesday. In Nebraska, live and dressed prices were called at $123-$124/cwt and $195-$196/cwt, respectively. Oklahoma City feeder steers and heifers were steady to $2/cwt higher than two weeks ago. Calves in OKC were steady. In Mississippi markets, steers were steady and heifers were $1-$5/cwt higher. Cows were $1-$3/cwt lower and bulls were steady.
Futures:
Cattle futures improved most of the week but the jump was substantial on Thursday and Friday. Cash has been at a premium compared to the nearby June live cattle contract as traders have held on to reservations about beef demand and other economic variables. Although skepticism remains cash prices continue to hold up forcing the hand of the futures market. The strong close to the week was a result of improved exports and optimism in U.S. equity markets provided the spark.
Corn futures were on a roller-coaster early in the week as weather concerns sparked a rally on Monday, which was countered with a downward turn on Tuesday. Selling the Monday rally and expectations of rain across the Corn Belt took place on Tuesday. Wednesday through Friday brought about higher prices as the weather conditions in other regions of the globe took center stage, along with a modestly bullish export report.
Beef:
Wholesale beef prices were mixed this week as Choice beef held mostly steady and Select moved lower. Choice wholesale beef finished with a weekly average of $197.10/cwt, up $0.27. Select ended at $184.47/cwt, down $2.46. This puts the Choice-to-Select spread at $12.63/cwt, the highest of 2012. The rising spread is not uncommon at this point in the year as Choice is typically higher due to the summer "grilling season".
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Calendar
June
18 Panola CCA
19 Kemper CCA
19 Hinds Blood Drive
19 Covington CCA
21 NRCS Field Day
Carthage
28 Rankin CCA
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