Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 6/6/2016
U.S. CORN AND SOYBEAN UPDATE

In recent weeks, corn and soybean markets have focused on deteriorating Southern Hemisphere conditions and the pace of plantings in the U.S.  Excessive moisture in Argentina and drought in Brazil have reduced their feedstuffs for export and caused world prices to increase, especially for soybean meal.  In the last four weeks, corn at Omaha is up 44 cents per bushel or up 12% and the highest for any week since mid-July 2015.  In that same timeframe, Central Illinois soybean meal jumped $81.50 per ton (up 24%), reaching its highest weekly price level since late December 2014.  Now the supply


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U.S. FEEDLOT SECTOR NOT REPEATING 2015

So far this year U.S.


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CUTOUT VALUE CARRIED BY MIDDLEMEATS, CHOICE-SELECT SPREAD WIDE

The Choice Beef cutout value has performed below year ago levels all year so far.  As of the end of May, the weekly average Choice cutout value was at $223.19 per cwt., 14% below a year ago.  The weekly Select cutout value was at $204.78 per cwt., 17% below year ago.  This is not surprising as fed cattle and therefore beef supply have increased relative to last year’s levels.  Within this current cutout value however, middle meats have been performing relatively well and at the same time the Choice-Select spread has been widening significantly since the beginning of May.


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