Santa Teresa

Definitely making headlines today too, Chip.

That's because Agriculture Secretary Brooke Rollins will be in New Mexico today at the port at Santa Teresa this morning.

The crossing there is set to open on September 24th, which makes this the second port to open for cattle from Mexico.

Now, Chip, just earlier this week, I spoke with New Mexico State Veterinarian Dr. Samantha Holick and the Executive Director of the New Mexico Livestock Board, Belinda Garland.

So here's what she had to say.

Yes, ma'am.

So it has not been uncommon for larger cattle, a thousand plus pounds to go through chutes there at the Santa Teresa and San Geronimo So they are anticipating that they can handle those cattle just fine.

Yeah, that absolutely was a problem.

Now, another port is getting ready to open.

This one is the Santa Teresa Port in New Mexico.

According to DTN, Agriculture Secretary Brooke Rollins will tour the facility with industry representatives this week in preparation for a September 24th opening.

The initial flow of cattle is expected to be 750 head per day, but the port can handle from 500 to 700,000 head annually.

This is the Texas Farm Bureau Radio Network.

Live and feeder cattle traded lower on Thursday as traders were not seeing the fundamental support they wanted to move higher.

The pending opening of the southern port of entry in Santa Teresa, New Mexico, also weighed on trade.

October live cattle down 280 to 215.65. December live cattle down 395 to 216.25. February live cattle down $3.62 to $2.1727. September feeder cattle down $3.65 to $3.3482. October feeder cattle down $5.27 to $3.2437. November feeder cattle down $4.45 to $3.1865. And just a note, USDA is expected to release its Cattle on Feed report on Friday.

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USDA reopening the Santa Teresa-New Mexico Cattle Crossing on Thursday, making it the second port restored under New World Screw Worm Safeguards after Douglas, Arizona.

Federal Reserve raised its benchmark rate a quarter point to a 375 to 4% range.

It's increasing pressure on operating loans, machinery financing, land purchases, and refinancing.

The select down $2.30, 352.27. Feeder index doesn't really matter, up 26 cents at 343 from yesterday's activity.

What is a mattering is USDA Secretary Rollins is in Santa Teresa, New Mexico right now.

doing an optics she's observing the equipment down there for the opening next week on the twenty fourth a trust me she doesn't know what to look for in this equipment she's just there for the photo shoot looking at it and acknowledging that it is opening next week uh... as it is on time a week ago nobody knew if it was gonna open for sure not and so that was part of the rally in feeder cattle which is getting taken away here abruptly as well today All the selling in the last three days, the cattle trade is still in the middle of its big old trading range.

It's made now over the last month.

Yeah, I was watching that open interest and that was kind of a telltale sign that it was short covering activity.

When we talk about outside market factors, I didn't know if the market was a little nervous about the Fed decision today, but maybe more importantly, it looks like this Santa Teresa port in New Mexico is going to reopen.

Yeah, I think the Fed meeting and crude oil, for that matter, just all the outside markets were weighing on the market there yesterday.

Nervousness to what the Fed was going to do.

As we get into the end of the year and even the first of the year, we'll see a few more numbers just as, you know, up here in the Midwest.

You know, the cow-calf guys that also farm a little bit, you see those cattle come to town, you know, Christmas time or the first part of the year.

Before I forget, so Santa Teresa, New Mexico port opens the 24th of September.

And then how long till the next port opens?

We have recovered a little bit of these losses back here, but the big news there is the whole border opening situation.

So Rollins is going to be down in New Mexico at the Santa Teresa border crossing and going to inspect it to see if we're ready to go for the September 24th opening.

If everything seems okay there, they're going to follow through with that date.

And the market's kind of digesting that a little bit here with a little softness yesterday and into today.