Cattle Index To Increase 50 Lbs.
Starting November weight parameters for CME feeder cattle contracts and the CME Feeder Cattle Index will increase 50 pounds on both ends of the range—from 650-849 pounds to 700-899 pounds—. “Glynn Tonsor, agricultural economist at Kansas State University was quoted in Beef online as saying that producers will “need to account for it when considering use of historic basis relationships.” ON Wednesday speaking on agri-talk Colin Woodall, vice president of government affairs for National Cattlemen’s Beef Association, says his industry will lose $400,000 a day without the Trans-Pacific Partnership. Latter an NCBA spokesperson stated that the calculation comes from an estimate produced by the consulting firm Global Agri-Trends. The estimate is based on the advantage that Australia has over the U.S. when it comes to beef trade with Japan. Japan and Australia entered a free trade and economic partnership pact in 2014, reducing Japanese tariffs on Australian beef. Japan has pledges to cut tariffs in U.S. beef in the TPP deal.