Friday 27th January 2012

Subscribe to BrownfieldNews FeedSubscribe to BrownfieldComments

You are here: Home / 2010 / Archives for February 2010

Grains and oilseeds give back Monday’s gains: February 23, 2010

February 23, 2010 By Leave a Comment

Soybeans were lower on technical selling, profit taking and spillover from the outside markets after hitting five week highs earlier in the session. The dollar was higher while the Dow, gold and crude oil were lower following weaker than anticipated consumer confidence numbers. Also, while there are concerns about recent rainfall in South America, conditions are generally good. The Rosario Grain Exchange raised its 2009/10 Argentine production estimate to 52.5 million tons, up 1.7 million tons from Rosario’s previous estimate. Support came from good near term demand prospects and reports of cancellations on deliverable bean receipts ahead of the first notice day Friday. Soybean meal and oil were lower following the lead of beans. Bean oil picked up additional pressure from product spread adjustments and the drop in crude oil.

Corn was lower on profit taking, technical selling and spillover from the outside markets. Contracts were due for a correction after hitting five week highs on Monday and farmer selling has increased. Corn’s fundamentals are neutral to negative with a large supply canceling out improved ethanol demand. Losses were limited by a few early concerns over the possibility of a soggy spring delaying planting but some in the trade also pointed to 2009’s late, wet start and eventual record crop. Ethanol futures were lower.

The wheat complex was lower on technical selling, profit taking and the higher dollar. Wheat’s fundamentals are very negative with a large world supply and poor demand for U.S. wheat due to its premium over competing exporters, so there was no real backing for Monday’s gains. March Chicago and March Kansas City traded above but closed below $5 while March Minneapolis managed to hold above $5.01, keeping its premium over the other U.S. pits. European wheat was steady to weak with no real fresh news and pressure from the fundamentals; May Paris was flat and May London was down .1%. Japan’s Ag Ministry announced it won’t be issuing a wheat import tender this month due to ample supplies.

Filed Under: Closing Futures & Livestock Briefs, Markets Tagged With: , , , ,

Feedlot cattle trade steady to lower in the south

February 23, 2010 By Leave a Comment

USDA Mandatory reported a light cattle trade developed in the Texas Panhandle on moderate demand on Tuesday. Compared to last week a few early sales were mostly steady at 92.00 on a live basis, but the majority of producers had not traded. Trading and demand was moderate in Kansas. Compared to last week, live sales are trending mostly steady at 92.00, with a few late sales 1.00 lower at 91.00. Dressed deals are steady at 145.00. DTN reported a few sales in Nebraska at 90.00 live and 144.00 dressed, but trade volume was insufficient for a good test. Trading remained inactive in all other areas. Cattle slaughter was estimated at 123,000, the same as last week, but 1,000 less than a year ago. Boxed beef cutout values are higher to sharply higher on light to moderate demand and light offerings. Choice boxed beef was up 1.75 at 149.78, and select was up 2.71 at 148.99.

Live cattle contracts on the Chicago Mercantile Exchange settled 30 to 80 points lower.  Traders watched developments in the cash market and there was some concern as to the direction the market is taking. There was also concern over the higher U.S. dollar and how that might impact beef exports. February live settled at 91.75 down 30 points, and April was 80 lower at 92.42.

Feeder cattle ended the session 30 to 82 points lower on the softness in the live pit. There was still some factoring in of the higher corn prices from Monday and unwillingness to aggressively enter the market. The most significant losses were in the May through September contracts. March was 70 points lower and settled at 101.15, and April was down 70 at 102.47.

Cattle receipts at the Faith Livestock Commission Company, Faith, SD totaled 1894 head on Monday. Compared to a week ago feeder steers sold 1.00 to 2.00 higher, instances 3.00 higher on over 700 pound cattle. Feeder heifers weighting under 550 pounds sold 2.00 to 5.00 higher, over 550 lbs mostly steady to 3.00 higher. Greatest interest was for thin fleshed grass cattle weighing less than 600 pounds. Feeder steers medium and large 1 weighing 777 averaged 100.08, 717 pound heifers brought 96.55 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade closed .62 higher at 66.73 on a carcass basis, the West was up.50 at 66.78 and the East closed up .70 at 64.84. Missouri direct base carcass meat price closed steady at 58.00 to 62.00. Hog slaughter was estimated at 429,000 head 1,000 more than last week and last year.  The year to date pork production is down 7.9 percent from last year. Chicken is up 2.8 percent, but turkey is down 4.5 percent.

 Lean hogs settled 10 to 85 points lower after showing some early gains. Profit taking and spreading were the main features of Tuesday’s session. April was 85 points lower at 69.45, and May was down 72 at 76.17. Pork trading was slow to moderate with light to mostly moderate demand and light to moderate offerings. Pork carcass cutout value was up 1.11 at 72.46.

Pork bellies ended 210 to 280 points lower in a thinly traded session. Pressure on the bellies developed on the losses in the lean pit as well as weakness in most outside markets. March settled 280 lower at 84.00, and May was down 210 at 86.20.

Filed Under: Closing Futures & Livestock Briefs, Markets Tagged With: ,

Closing Grain and Livestock Futures: February 23, 2010

February 23, 2010 By Leave a Comment

March corn closed at $3.67 and 3/4, down 3 and 3/4 cents
March soybeans closed at $9.52 and 1/2, down 9 cents
March soybean meal closed at $279.60, down $2.10
March soybean oil closed at 38.31, down 52 points
March wheat closed at $4.91 and 3/4, down 9 and 1/2 cents
February live cattle closed at $91.75, down 30 cents
April lean hogs closed at $69.45, down 85 cents
April crude oil closed at $78.86, down $1.45
March cotton closed at 80.00, down 74 points
March Class III milk closed at $13.40, up 9 cents
Dow Jones Industrial Average: 10,282.41, down 100.97 points

Filed Under: Closing Futures & Livestock Briefs, Markets Tagged With: , , , , , , , ,

Keeping nutrient management records

February 23, 2010 By Leave a Comment

No matter if you are a large livestock producer or small livestock producer, Purdue University Extension nutrient management specialist Tamilee Nennich says detailed records of nutrient management practices are a good idea for more than one reason.

Audio: Tamilee Ninnich, Purdue Extension (3:00 MP3)

Filed Under: Feature Programs, Managing for Profit Tagged With: , , ,

Addressing the Vomitoxin issue

February 23, 2010 By Leave a Comment

A two hour roundtable on Vomitoxin issues in Indiana generated a lot of discussion on Monday, February 22 at the Farm Service Agency (FSA) State Office in Indianapolis.

“I’m really pleased we had the meeting, I’m glad I was here, it was certainly two hours well spent in understanding this issues,” said Kent Yeager with Indiana Farm Bureau.

Audio: Kent Yeager, Indiana Farm Bureau (2:55 MP3)

In addition to Yeager with Indiana Farm Bureau, representatives from Purdue University, the grain industry, seed industry, crop insurance, USDA agencies, Office of the Indiana State Chemist and Indiana State Department of Agriculture (ISDA) were around the table.

Coming in, it was understood that Vomitoxin is a problem in Indiana the question is, just how big of a problem it is. From his perspective as director of the Indiana Grain Buyers and Warehouse Licensing Agency, Jerome Hawkins says the problem goes back to the fact that 80 percent of the grain had been delivered before elevators began testing for vomitoxin.

“Producers as well as elevators are going to be hurting from all of this,” said Hawkins. “Most of the country elevators had already taken 80 percent of their crop before ever starting to test, they’re going to have to pass along costs some way, or they are going to struggle financially.”

Several suggestions came out of the discussion, including the need for farmers to be vigilant when it comes to monitoring stored grain, and if it’s not dry, get it dried as soon as possible, before temperatures start warming. Jerome Hawkins also talked with Brownfield about suggestions for those delivering grain to the elevator.

“This is a free market, when they bring that grain across the scale, if they choose to do so they are allowed to get the grades before they ever dump the grain,” Hawkins said. “They need to make sure they agree with those grades first and if they don’t agree with them, they can hop in their truck and go on down the road to the next elevator, and I would encourage them to do that.”

Audio: Jerome Hawkins, IN Grain Buyers and Warehouse Licensing Agency (2:30 MP3)

While the biggest concern with Vomitoxin has been found in North East Indiana, it has been found in other areas of the state as well. To help answer questions, Purdue University is in the process of developing a “Managing Moldy Corn” web site.

Filed Under: Crops, News Tagged With: , , ,

Midday cash livestock markets

February 23, 2010 By Leave a Comment

Barrows and gilts in the Iowa/Minnesota and Western direct trade are quoted at 65.39, down .72 to .89 on a carcass basis; the East is down .19 at 63.95. Missouri direct base carcass meat price is steady at 58.00 to 62.00. The year to date pork production is down 7.9 percent from last year. Chicken is up 2.8 percent, but turkey is down 4.5 percent. The cold storage report released yesterday by USDA showed an 18.3 percent year over year drop in pork in the cooler, although inventory was up a little over 3.5 percent from December. Pork bellies in storage were down 23 percent from last year, and down 6 percent from the prior month.

In a bit of a surprise USDA Mandatory is reporting sales volume of 9,000 cattle traded this morning in Kansas. The trade is light to moderate on moderate demand. Compared to last week prices are steady at 92.00. Trading remains inactive in all other areas. Asking prices are around 94.00 to 95.00 in the South, and 150.00 plus in the North. Choice boxed beef is 1.44 higher at 149.47, and select is up 2.41 at 148.69.

Cattle receipts at the Faith Livestock Commission Company, Faith, SD totaled 1894 head on Monday. Compared to a week ago feeder steers sold 1.00 to 2.00 higher, instances 3.00 higher on over 700 pound cattle. Feeder heifers weighting under 550 pounds sold 2.00 to 5.00 higher, over 550 lbs mostly steady to 3.00 higher. Greatest interest was for thin fleshed grass cattle weighing under 600 pounds. Feeder steers medium and large 1 weighing 777 averaged 100.08, 717 pound heifers brought 96.55 per hundredweight.

Filed Under: Livestock, Markets Tagged With: ,

Indiana FFA State Officers traveling the state

February 23, 2010 By Leave a Comment

To help local FFA Chapters across the state celebrate National FFA Week, the 7 Indiana State FFA Officers are travelling the state. Daniel Bechman serves as State Treasurer.

“National FFA Week is really all about the local chapters and members getting out in their schools and communities and really show their pride for FFA and also get out there and teach a little bit about what the FFA is all about and what we do,” said Daniel Bechman, Indiana FFA State Treasurer. “It’s really all about spreading the word and good stuff about FFA.”

Bechman, a member of the Franklin FFA Chapter will be visiting over a dozen FFA Chapters himself this week.

“My goal is to be able to see the excitement reflected in members and really be able to boost that excitement if you will from members is what I’m hoping to be able to do,” Bechman said. “I just want to be able to see how excited and how well FFA can present itself this week.”

After his year as a State Officer, Bechman will enroll at Purdue University this fall, majoring in plant genetics and plant breeding, with a career goal of becoming a plant breeder, a career that his FFA experience is preparing him for.

Audio: Daniel Bechman, Indiana FFA (6:30 MP3)

Filed Under: Ag Youth, Events/Organizations, News Tagged With: ,

Iowa corn leader questions USDA ‘local food’ emphasis

February 23, 2010 By Leave a Comment

The chairman of the Iowa Corn Promotion Board is expressing concern with what he considers a big shift in emphasis at USDA towards locally grown and organic foods.  Tim Burrack of Arlington, Iowa attended USDA’s annual outlook conference in Washington D.C. last week.  He says the USDA’s “Know Your Farmer, Know Your Food” program was highlighted while modern agriculture came under attack from many conference speakers and attendees.

AUDIO: Tim Burrack (3 min MP3)

Filed Under: Feature Programs, Rural Issues Tagged With: , ,

Supreme Court refuses to review pesticide application ruling

February 22, 2010 By 1 Comment

The U.S. Supreme Court has refused to review a lower court ruling related to pesticide application permits.  It’s a decision some ag groups fear will subject farmers to additional regulatory requirements.

In January 2009, the 6th Circuit Court of Appeals ruled that EPA cannot exempt pesticides already compliant with one set of federal safety regulations from additional permitting requirements under the Clean Water Act.  That case was known as National Cotton Council v. EPA.  Several ag organizations and companies—including CropLife America, American Farm Bureau, BASF Corporation and FMC Corporation—had petitioned the Supreme Court to review the case. 

American Farm Bureau president Bob Stallman was critical of the Supreme Court’s decision. “Farmer’s abilities to protect our food supply from pests took a big hit today,” Stallman says. “The U.S. Circuit Court of Appeals misfired in its ruling—the Supreme Court compounded that mistake by not reviewing the case.”

Stallman says all farmers know they must use chemicals properly. “They also know the label on each chemical they use is the law of the land.  Going through redundant bureaucratic red tape for a duplicate permit to apply a safe product is preposterous.  That kind of regulatory overkill will not improve food safety or the environment.”

CropLife America (CLA), which represents ag chemical manufacturers and distributors, also expressed disappointment with the Supreme Court’s decision to not review the ruling.  “The panel’s ruling creates another legal burden for our farmers, custom applicators and agricultural dealers, and leads to additional regulations which may well prevent food growers from maximizing their output,” says Jay Vroom, president and CEO of CLA. “We are disappointed that the 6th Circuit’s decision could cause the U.S. government to continue to practice a precautionary policy which is detrimental not only for farmers, but could prevent the country from producing more food, fuel and fiber for a growing world population.”

Nebraska Senator Mike Johanns, one of some 30 Senate and House members who supported the brief urging review of the decision, says farmers and ranchers shouldn’t have to apply for a permit every time they want to use pesticides. “I am a firm believer in protecting the environment, but we already do so through existing regulations,” Johanns says. “This is just another costly bureaucratic hoop to jump through.  Bugs and weeds won’t wait on EPA for a permit—farmers shouldn’t have to either.

Johanns also criticized the Obama administration, which he says “urged the Supreme Court not to review the case, adding to a long line of positions that are not in the best interest of agriculture.”

The final decision by the 6th Circuit is stayed until April 2011.  CLA’s Vroom says that, despite the Supreme Court’s decision, CLA will continue to pursue additional avenues to contain the 6th Circuit’s ruling.

Filed Under: Crops, Events/Organizations, News, Top Stories, USDA/Government Tagged With: ,

It’s National FFA Week

February 22, 2010 By Leave a Comment

FFA’ers all across the country are celebrating National FFA Week.  Here are some of the state-by-state FFA stories compiled by our Brownfield reporters. 

Iowa 

There are about 75-hundred FFA members in Iowa.  At Northeast Hamilton High School in Blairsburg, Iowa, FFA advisor Herb Strasser encourages his ag students to be more aware of the market trends affecting commodities.  He says smart grain marketing is one of the keys to success in farming. 

“The markets are probably not going to stabilize,” says Strasser. “ I think what we’ve been seeing for the last couple of years is probably the norm rather than the exception in agriculture.”

But Strasser says FFA is not just for future farmers anymore. He says there are opportunities for all young people to be involved in FFA, whether they plan to farm or not. 

Radio Iowa and Pat Powers, KQWC, Webster City contributed to this story. 

Nebraska 

Danielle Saathoff of Franklin, Nebraska is the state secretary for the Nebraska FFA Association.  Saathoff—a freshman at the University of Nebraska-Lincoln—says the skills she has acquired through FFA will serve her well down the road.

“Livestock management is my major right now and I would like to go into mission work with that—to be able to go to foreign nations—underdeveloped countries—and help them develop their livestock herds,” says Saathoff. “So FFA really gave me an outlet for my passion as far as the livestock activities—and also the communications activities, because that will be key in my future—being able to communicate effectively.” 

Saathoff is visiting FFA chapters around the state this week, conducting workshops on leadership, teamwork and goal setting.  She was in Fullerton on Monday.

AUDIO: Danielle Saathoff (5 min MP3)

Illinois

During FFA Week, officers in the Illinois FFA are promoting the youth organization through visits to chapters around the state. In addition to encouraging younger members to get involved in the FFA, officers have their own stories about what caused them to become involved.

Illinois FFA President Amie Burke from Fithian, Illinois, was part of a family tradition, becoming a member after her brother and uncles were first members.

“I just decided to give it a shot, and when I got in, I really realized that there was something in [FFA] for me,” Burke told Brownfield Monday. “I was able to take that experience and just go from there and grow.”

AUDIO: Amie Burke (5 min. MP3)

Illinois FFA Vice President Caroline Bremer of Metropolis, Illinois, joined to compete in public speaking. As a freshman, she was mentored by a senior student who saw potential in her.

“I got more active and I really saw some of the opportunities that [FFA] had to offer, and I think that FFA is kind of addicting like that,” said Bremer Monday. “Once you are able to embrace your own potential and do something with it, it just seems like more and more opportunities pop up for students. I think that’s kind of how it happened to me.”

 AUDIO: Caroline Bremer (6 min. MP3)

Bremer, Burke and the three other state officers each take a year away from college studies to serve the Illinois FFA. Bremer, however, doesn’t view that as a missed educational opportunity.

“I think that the experiences I’ve gained this year as a state officer are experiences I could never gain in a classroom,” she says.

Indiana

To help local FFA Chapters across the state celebrate National FFA Week, the 7 Indiana State FFA Officers are travelling the state. Daniel Bechman serves as State Treasurer.

“National FFA Week is really all about the local chapters and members getting out in their schools and communities and really show their pride for FFA and also get out there and teach a little bit about what the FFA is all about and what we do,” said Daniel Bechman, Indiana FFA State Treasurer. “It’s really all about spreading the word and good stuff about FFA.”

Bechman, a member of the Franklin FFA Chapter will be visiting over a dozen FFA Chapters himself this week.

“My goal is to be able to see the excitement reflected in members and really be able to boost that excitement if you will from members is what I’m hoping to be able to do,” Bechman said. “I just want to be able to see how excited and how well FFA can present itself this week.”

After his year as a State Officer, Bechman will enroll at Purdue University this fall, majoring in plant genetics and plant breeding, with a career goal of becoming a plant breeder, a career that his FFA experience is preparing him for.

Audio: Daniel Bechman, Indiana FFA (6:30 MP3)

Filed Under: Events/Organizations, News, Top Stories Tagged With: , , , ,
« Older Posts
Newer Posts »