MFA Agri Services River Hills - CLICK - MFA CONNECT

     Perryville, Farmington Bulk Plant, & Ste. Genevieve, MO.

DTN Early Word Livestock Comments      11/11 06:01
   USDA Proposes Grazing Expansion

   Tuesday afternoon, the USDA proposed a federal rule to expand access to
grazing allotments for American ranchers. This new rule would update grazing
permit issuance, eligibility and qualifications, along with changing the fee
structure to a more consistent process across national forests and grasslands.

Sarah Jungman
DTN Contributing Analyst

                        Futures     Equiv
Cattle:     Steady      Higher      Live       $268.23     -$0.33 *
Hogs:       Steady      Higher      Lean        $76.28     -$1.29 **

   *Based on the formula estimating live cattle equivalent of gross packer
revenue. (The Live Cattle Equiv. The index has been updated to depict recent
changes in live cattle weights and grading percentages.)

   ** based on formula estimating lean hog equivalent of gross packer revenue.

GENERAL COMMENTS:

   Cattle markets moved higher again on Tuesday, continuing the strength
started earlier this week. Feeder cattle were up $2 or more while live cattle
futures climbed as much as $3 by the close. In addition to the proposed grazing
rule change, the USDA also announced that it is ready to begin the hiring
process for the nation's largest facility to combat New World Screwworm,
meaning they are one step closer to opening at the expected April 2027 date.
USDA also released the November WASDE report Tuesday morning. Beef production
for 2026 was reduced 40 million pounds from the October report, coming in at
24,830 million pounds. Imports increased 89 million pounds, while exports
increased 1 million pounds. Total use was 28.928 billion pounds, up 57 million
from last month's projections. Ending stocks were reduced by a net of 10
million pounds. Production was lower in this month's report, with 2027
expectations at 24,588 million pounds. An expected reduction of 242 million
pounds from this year to next. With that, there is also a reduction in total
use, bringing ending stocks to 575 million pounds.