January 18, 2016

 
 
 
 

Monday Memo

 
 
 
 

Cattle Market Notes 
Dr. Brian Williams​
Week ending January 15, 2016

Cash Cattle:
Cash traded fed cattle was mixed this week. The five-area fed steer price ended the week averaging $133.52 for live sales, and $209.57 for dressed; respectively, up $1.68 and down $0.45. Total volume sold was up 18,000 head from a week ago and up 22,000 head from last year.
Feeder steer cattle and calves were trading lower across much of the U.S. this week. Oklahoma City feeder cattle were $5 to $10 lower than a week ago for most weight classes. In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were unchanged from a week ago, averaging $195.00, while heavy steers were averaging $137.50, up $5.00 from last week.

Futures:
Live cattle futures and feeder futures were lower this week. February live cattle were down $5.25 on the week and $27.28 lower than a year ago at $127.58, while April live cattle were also down $5.25 from last week and down $24.65 from a year ago. Feeder cattle were also lower with January futures down $4.92 from last Friday and down $60.63 from a year ago at $154.30 while March futures are down $6.32 on the week. Nearby corn futures are up $0.06 from a week ago while May futures are up $0.05.

Beef:                                                                                            
Wholesale boxed beef prices are higher compared to a week ago. Choice boxes averaged $234.67, up $8.43 from a week ago and $26.84 lower than a year ago. Select boxes ended the week with an average of $228.46, up $8.63 from last week. The choice-select spread narrowed from $6.41 a week ago to $6.21 this week.
 
 
 
 
 

SWEET ONION & PEPPER BEEF SANDWICHES WITH AU JUS


Total Recipe Time: HIGH 6-1/4 to 7-1/4 hours or LOW 8-1/4 to 9-1/4 hour

Makes 8 to 10 servings
 
 
 
 
 

January
27-29 Cattle Industry Convention
21   Marshall CCA

February
12-13    MCA Convention
 
 
 
 
 

MCA Online!
You can pay your MCA dues online. MCA is looking out for cattle producers in Mississippi. MCA monitors the legislative and regulatory activity in Jackson and Washington, D.C. We're working every day to influence producer legislation in a manner that benefits cattle producers. Click here to learn more.
 
 
 
 

House Passes Bill To Prevent WOTUS

 
 
 
 
The U.S. House on Wednesday passed a bill aimed at preventing the Environmental Protection Agency (EPA) from extending its jurisdiction over more U.S. waterways through a controversial new regulation dubbed Waters of the United States (WOTUS).
“The WOTUS rule is one of the most onerous land grabs undertaken by any regulator,” said Ellis. “The WOTUS rule extends beyond Congressional intent and would affect not only ranchers, but every land use stakeholder nationwide. This rule is not about preserving our nation’s resources, it’s about an overzealous regulatory administration.”
In November, the Senate voted in 53-44 in bi-partisan support of S.J.Res. 22. Since that time, the Government Accountability Office released their legal opinion finding that the EPA violated federal law by engaging in covert propaganda and grassroots lobbying in support of the WOTUS rule.
The legislation now heads to President Barack Obama’s desk for signature. The President has threatened to veto any legislation that would repeal the WOTUS Rule, and it is expected he will follow through on that. 
 
 
 
 
 
Book Your Rooms Now!
Rooms for the 2016 Mississippi Cattlemen's Association Convention and Dixie National Expo are filling up fast. Make sure to book your room at the Hampton Inn (601) 352-1700. Ask for the Mississippi Cattlemen's Association block of rooms. Standard rooms are $94 and suites are $104. Makes your reservations today!
 
 
 
 
 
Wold Supply and Demand Estimates
The United States Department of Agriculture’s World Supply and Demand Estimates were released on Tuesday morning (January 12, 2016). Beef production for 2015 was revised up by 35 million pounds from last month’s estimate to 23.7 billion pounds. That number is up from 2014 when annual beef production was 24.25 billion pounds. Looking ahead to 2016, beef production is expected to be up nearly 900 million pounds from last year at 24.6 billion pounds. Per capita consumption is expected to be higher in 2016 than a year ago at 54.4 pounds per person. On the crop balance sheet, corn ending stocks for the 2015/16 crop were revised up by 17 million bushels primarily due to lower exports. Yields were also lowered by 0.9 bu/acre to 168.4 bu/acre, leaving total production down 53 million bushel at 13.601 billion bushels.
 
 
 
 
 
MCA Convention
Make plans for you and your family to attend the 2016 MCA Convention and Dixie National Farm Expo.
Events will kick off Friday night at 6:30 in the Trade Mart for the Cattlemen's Round Up & BBQ. This new event will have good food, games, and live music from Southern Grass. This great event for the family will also include the  Live Auction featuring items for your home and farm. 
Saturday will begin at 8:00 a.m. with the opening of the Dixie National Farm Expo featuring vendors from all aspects of agriculture. The Annual Membership Meeting will begin at 9:30 and will include an update on the long-term cattle market by Dr. Darrell Peel, Extension Economist from Oklahoma State University. The highlight of the convention will be the Awards Luncheon on Saturday where we will award over $45,000 in scholarships and honor outgoing president, Harold Newcomb.
Make your plans to attend this great event!
 
 
 
 
 
BCIA Spring Bull Sale
BCIA Bull Sale consignments are due January 20. The sale will be held March 3, 2016. Information on consignments can be found here.
 
 
 
 
 
Dixie National Events
A complete schedule for the Dixie National Livestock Show and Rodeo has been posted on the Mississippi Department of Agriculture's website. To see a detailed list of the events please click here.
 
 
 
 
 
Cattle Fax Webinar 
Webinar: CattleFax Trends+ Cow-Calf
DATE: Wednesday, January 20, 2016
TIME: 5:30 p.m. Mountain
Webinar is open to all. 
To participate in the webinar and access program details, producers and industry leaders simply need to register 
online.
One of the most aggressive U.S. beef cowherd expansions in the last four decades will increase beef supplies and pressure cow-calf profitability over the next several years. As profits narrow during that time, well-informed producers can maintain healthy margins by adjusting production, marketing and risk management plans with increasing supplies in mind.
 
 
 
 
 
Allied Industry Members
 
 
 
 
 

680 Monroe St. Suite A • Jackson, MS 39202 |  601·354·8951

www.mscattlemen.org

 
 
            
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