Cattle Current Daily-June 30

Cattle Current Daily-June 30

Stability and narrower price ranges were welcome in Cattle futures on Thursday with Live Cattle support firming as the session continued, helping Feeder Cattle along the way.

Other than 5¢ lower in expiring June and unchanged at the back, Live Cattle futures closed an average of $1.10 higher (87¢ to $1.32 higher).

Feeder Cattle futures closed an average of $1.28 higher (77¢ to $2.17 higher).

Choice boxed beef cutout value was $2.88 lower Thursday afternoon at $226.55/cwt. Select was $2.51 lower at $210.16.

******************************

Sharp seesaw gyrations continued on Wall Street Thursday with major U.S. financial indices closing sharply lower. Tech stocks led the charge lower, bolstered by investors taking profits and squaring positions with the quarter ending today.

The Dow Jones Industrial Average closed 167 points lower. The S&P 500 closed 20 points lower. The NASDAQ closed 90 points lower.

******************************

U.S. beef made its official return to China June 19, according to USDA—a shipment from Great Omaha Packing Company in Nebraska.

U.S. Secretary of Agriculture Sonny Perdue will join U.S. Ambassador, Terry Branstad, in China this weekend to formally mark the return of U.S. beef after a 13-year hiatus.

“I will be proud to be on hand for the official reintroduction of U.S. beef to China,” Perdue said. “This is tremendous news for the American beef industry, the agriculture community, and the American economy in general. We will once again have access to the enormous Chinese market, with a strong and growing middle class, which had been closed to our ranchers for a long, long time. There’s no doubt in my mind that when the Chinese people taste our high-quality U.S. beef, they’ll want more of it.”

Greg Ibach, Nebraska Department of Agriculture (NDA) Director will also be on hand in China. According to Nebraska Governor Pete Ricketts, “Nebraska is home to four of the six eligible suppliers that are currently approved to ship beef to China.”

China has emerged as a major beef buyer in recent years, with imports increasing from $275 million in 2012 to $2.5 billion in 2016. The United States is the world’s largest beef producer and in 2016 was the world’s fourth-largest exporter, with global sales of more than $5.4 billion.

2017-06-29T19:31:20+00:00

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.