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Thursday midday livestock markets

May 27, 2010 By Leave a Comment

Barrows and gilts in the Iowa/Minnesota direct trade are down .78 the West is down .77 both at 76.45 weighted average on a carcass basis. Eastern barrows and gilts are 1.00 lower at 75.41, and Missouri direct is steady at 74.00. Pork processing margins have improved significantly since mid-May with the carcass value now more than $10 over the Iowa weighted average on dressed hogs. Packers should soon be motivated to increase chain speed and support cash prices.

Packer inquiry into the cattle is showing some improvement with a few scattered bids noted at 93.00 and 150.00. If current bids improve we could see more trade today. Asking prices are around 94.00 to 95.00 in the South and 152.00 plus in the North. Choice beef was down 1.12 at 165.02 at midday and the select boxed beef is 1.49 lower at 157.99.

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 2650 head on Wednesday. Compared to two weeks ago, steers and heifers trended 2.00 to 3.00 lower based on a narrow test. Demand and trade activity was moderate to good. Feeder steers medium and large 1 weighing 835 pounds traded at 107.50 per hundredweight, 811 pound heifers brought 103.72.

Filed Under: Livestock, Markets Tagged With: ,

Weekly export sales mostly within pre-report estimates

May 27, 2010 By Leave a Comment

USDA reports grain and oilseed export sales for the week ending May 20 were mostly within pre-report expectations. Shipments of corn were above what’s needed weekly to meet USDA projections for the 2009/10 marketing year while soybeans and wheat fell short.

2009/10 wheat sales were 148,800 tons (5.5 million bushels), down 41% from the week ending May 13 and 27% lower than the four week average. The top buyer was Nigeria at 55,100 tons while unknown destinations canceled on 103,000 tons. With less than two reporting weeks left in the marketing year, 2009/10 wheat sales are 832.8 million bushels, compared to 975.2 million in 2008/09. Sales of 336,700 tons (12.4 million bushels) for 2010/11 delivery were mostly to South Korea (92,200 ton) and Japan (85,600 tons).

2009/10 corn sales came out at 1,030,800 tons (40.6 million bushels), 24% less than the previous week and 22% under the four week average. At this point in the marketing year, corn sales are 1.757 billion bushels, compared to 1.587 billion this time last year. USDA reports a net reduction for 2010/11 of 174,000 tons (6.8 million bushels) following cancellations by China (130,000 tons) and South Korea (55,000 tons).

2009/10 soybeans were reported at 175,400 tons (6.4 million bushels), a decrease of 63% from the prior week and 38% from the four week average. China was the leading purchaser at 60,000 tons. For the marketing year to date, soybean sales are 1.407 billion bushels, compared to 1.240 billion a year ago. Sales of 120,000 tons (4.4 million bushels) for 2010/11 delivery were to China.

2009/10 soybean meal was pegged at 47,400 tons, 46% above the week before but 36% below the four week average. Venezuela was the top buyer at 23,800 tons. So far this marketing year, soybean meal sales are 8,591,400 tons, compared to 6,273,900 last year. Sales of 24,000 tons for 2010/11 delivery were to unknown destinations.

2009/10 soybean oil was reported at 12,900 tons, an increase from both the week prior and the four week average. Venezuela was the leading purchaser at 8,000 tons. 2009/10 soybean oil sales are 1,187,900 tons, compared to 682,500 in 2008/09.

Net beef sales totaled 17,800 tons, up 13% from the week before and 19% higher than the four week average. The listed buyers were South Korea (6,400 tons), Mexico (4,800 tons), Vietnam (1,800 tons), Japan (1,500 tons) and Hong Kong (1,400 tons).

Filed Under: Markets, News Tagged With: , , , , , , ,

New BBQ contest at World Pork Expo

May 27, 2010 By Leave a Comment

A new barbeque contest will make its debut at this year’s World Pork Expo in Des Moines. It’s called the People’s Choice BBQ contest and it’s being sponsored by Pfizer Animal Health. 

“This year, Pfizer Animal Health is featuring three of Iowa’s top competing pit masters,” says Gary Robertson, marketing manager for Pfizer Animal Health. “The two-day event will occur on Wednesday and Thursday, June 9th and 10th, near the Pfizer tent, which is located just outside the Varied Industries building on the Iowa State Fairgrounds.”

Baby back ribs will be the featured meat on Wednesday followed by pork sausage on Thursday.  The barbeque sampling and voting will be from 11 to 2 each day.  The People’s Choice winner will be announced at 3 p.m. daily in the Pfizer tent area.

Pfizer Animal Health is a gold level sponsor of World Pork Expo.

AUDIO: Gary Robertson (3 min MP3)

Filed Under: Events/Organizations, Livestock, News Tagged With: ,

Remember the heroes

May 27, 2010 By Leave a Comment

Not unlike school kids anxious to be released into the “wilds” of summertime, I find myself either fidgety or staring out the window on this last day in the office before a week away from all things Brownfield Ag News. It’s been a very wet and cool Spring in my neck of the woods so I’m hopeful for a reprieve as the final days of the month of May are upon us. Although the peas and onions, garlic and sweet corn have great color and are growing despite the lack of sunshine, the peppers and tomatoes and even my zinnias in the garden are sick and tired of standing in water every few days with a gray and gloomy sky overhead.

Bring on the sunshine! Memorial Day week-end is upon us and there is much to do before the picnics and parties.

It is sad to think that there are many people who have little to no comprehension of the significance of Memorial Day. Although “Decoration Day” began as a day to remember so many who died for our freedom, for most of us today it is a time to visit the gravesites of all family members and friends – whether they served in the military or not – and to decorate them with flowers and flags.

Sadly, like many other significant holidays, the true meaning of Memorial Day has taken a backseat to our good time. Memorial Day has become more about a day off from work, an excuse to drink too much beer and eat too many hot wings and hamburgers. It is for many, the official beginning of summer. School is out. Memorial Day week-end means the first sunburn of the season, the first time to take the boat out on the lake this year and the first picnic. Recreation takes precedence over honoring the boys and girls, men and women who fought and died for these freedoms we enjoy.

At a time when this country that we love so much is engaged in a 2-front war, I hope you will take a moment to remember the terrible price of all wars and the ultimate sacrifice made by so many some one’s beloved spouse, child, sibling, parent or friend.

Before you pitch your first horse shoe, pop your first top or settle in to watch the Indy 500 this Memorial Day Week-end, please remember our fallen war heroes. If you do nothing else to honor those who fought for our freedom, please take a few minutes to pause and reflect upon the meaning – the purpose – of the day. And most importantly, be sure that those who represent the next generation of Americans have a clear understanding of the true meaning of Memorial Day.

“…gather around their sacred remains and garland the passionless mounds above them with choicest flowers of springtime….let us in this solemn presence renew our pledges to aid and assist those whom they have left among us as sacred charges upon the Nation’s gratitude,–the soldier’s and sailor’s widow and orphan.” –General John Logan, General Order No. 11, 5 May 1868

Filed Under: AgriNews Column, Feature Programs, Two Cents Tagged With: , ,

Poll shows less farm diversification

May 27, 2010 By Leave a Comment

Rural sociologists at Iowa State University have compared what farmers have been doing for the past 30 years in Iowa – then and now – and the results show the shrinkage in diversification. The Iowa Farm and Rural Life Poll compared the percentage of Iowa farmers growing both grain and livestock in 1989, which was 64 percent – to the percentage 20 years later in 2009 which was 42 percent.

AUDIO: J. Arbuckle (3 min. MP3)

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

European financial woes spill-over into commodities

May 27, 2010 By Leave a Comment

It was a wild ride in the financial markets on Tuesday when the Dow Jones Industrial average plunged below 9800 early in the day and then recovered most of the losses to close back over the 10,000 mark. The plunge spilled over into grain and dairy markets, Jacquie Voeks with Stewart Peterson says the European economic woes are making everyone more than a little nervous and the situation isn’t going to change any time soon.

AUDIO: Jacquie Voeks talks about the markets and what to do

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

Emergency fungicide clearance for ginseng

May 26, 2010 By Leave a Comment

Ginseng producers in Wisconsin are awaiting word from Washington regarding Governor Jim Doyle’s request to have Marathon, Lincoln and Langlade Counties declared federal disaster areas after heavy snow collapsed shades and frost did severe damage to the crop in early May. On top of that, the remaining crop is threatened by fungal diseases which could wipe everything out so the Wisconsin Department of Agriculture,Trade and Consumer Protection has issued a crisis pesticide exemption for the application of Gavel 75DF fungicide to fight stem and leaf blight.

Wisconsin produces 95 percent of the nation’s ginseng; in 2007 producers harvested 400,000 pounds valued at around $10 million. Ginseng takes three or more years to mature so the losses compound.

Filed Under: News, USDA/Government Tagged With: , , , ,

Corn, soybeans and wheat shrug off higher dollar

May 26, 2010 By Leave a Comment

Soybeans were higher in fairly low volume on technical buying and spillover from the outside markets. The dollar was up while crude oil was sharply higher. The Dow had a very interesting session – for a significant portion of the day, the Dow was higher following through on Tuesday’s late surge, trading around 130 points higher, but that momentum evaporated and the Dow closed about 70 points lower. Fundamentals continue to lean towards the bearish side and there was no real fresh news. Taiwan’s Breakfast Soybean Procurement Association bought 58,000 tons of soybeans from Brazil at a $2.24 premium over the July CBOT contract. Soybean oil was higher on the strength in crude oil was meal was mostly lower on product spread adjustments. USDA’s weekly export sales report is out Thursday at 7:30 AM Central. Old crop soybeans are placed at 150,000 to 400,000 tons, new crop is seen at 100,000 to 350,000 tons, meal is projected at 75,000 to 225,000 tons and oil is pegged at 0 to 15,000 tons.

Corn was modestly higher on technical buying and some outside market direction. Corn was due for a bounce after the recent weakness and near term demand looks good. David Kohli of Allendale noted China is expected to issue new corn export quotas soon, areas around the Yellow River, a main irrigation source, are dry and Beijing’s weekly corn auction in northeastern China moved a lot of grain. That said – the supply is large and there was no real fresh news for corn either. The Korea Corn Processing Industry Association is tendering for 55,000 tons of No. 2 U.S. yellow corn. Ethanol futures were higher. Weekly old crop U.S. corn sales are expected to be between 700,000 and 1 million tons with new crop at 150,000 to 350,000 tons.

The wheat complex was higher on short covering, technical buying and spillover from beans and corn. Wheat was oversold and traders continue to hold a huge net short position. Still, the dollar was higher, corn and beans were down from the early gains and the supply and demand fundamentals remain extremely negative, limiting the higher trade in wheat. There are some disease concerns: wet conditions in soft red winter growing areas have producers worried about head scab and scientists from the Borlaug Global Rust Initiative are scheduled to present their findings on mutant strains of the wheat killing Ug99 virus at the upcoming Eighth International Wheat Conference being held in St. Petersburg, Russia. European wheat was lower on forecasts for improved rainfall in Europe. Russia’s Ag Ministry reports 69% of the planned spring grains area has been planted. As part of its efforts to limit the impact of price volatility on farmers, China’s State Administration of Grain will purchase wheat in primary growing areas if prices fall below certain levels. South Korea’s Nonghyup Feed Company passed on a 55,000 ton feed wheat tender and Japan’s Ministry of Agriculture, Forestry and Fisheries canceled a sell-buy-sell tender for 30,000 tons of feed wheat and 200,000 tons of feed barley. Weekly old crop U.S. wheat sales are estimated at 100,000 to 300,000 tons with new crop at 150,000 to 350,000 tons.

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

Coalition ramps up message inside beltway

May 26, 2010 By Leave a Comment

Fourteen state corn grower groups have joined the National Corn Growers Association for a second educational campaign specifically targeted to decision makers in Washington, D.C.  The Corn Farmers Coalition will focus on the message that 95% of U.S. corn farms are family owned and operated.

John and Sue Adams of Atlanta, Illinois are among the farmers featured in the campaign. John Adams says he was “shocked” by the reaction from congressional aides and agency folks they met with in Washington, DC two years ago. “We were quite often hearing that ‘we didn’t know there were any family farms back there in Illinois – we thought it was all big corporate farms.’ And, that really bothered me a lot,” says Adams.

Kurt Horra, a member of the Iowa Corn Grower Board, is another featured farmer, “We feel it’s important to promote the products that we raise and to show to our consumers that we’re raising them in a safe, affordable way in an environmentally friendly manner.”

NCGA President Darrin Ihnen calls the campaign a “corn farmer image effort designed for thought leaders in Washington” – those making the decisions on regulations and legislation. The million dollar campaign will saturate DC media outlets through July and increase its “social media” presence. Ten corn grower groups were involved in the first such campaign last summer.

[The groups involved with NCGA this year are: Illinois Corn Marketing Board, Indiana Corn Marketing Council, Iowa Corn Promotion board, Missouri Corn Merchandising Council, Nebraska Corn Board, Wisconsin Corn Promotion Board, South Dakota Corn Utilization Council -also- Colorado Corn Growers Association, Kansas Corn Commission, Kentucky Corn Growers Association, Maryland Grain Producers, Corn Marketing Program of Michigan, Ohio Corn Marketing Program, Virginia Grain Producers Association.]

AUDIO: Corn Farmers Coalition conference call (37 min. MP3)

Filed Under: Crops, Events/Organizations, News Tagged With: , , , , , , , ,

USDA: China corn buys not that significant

May 26, 2010 By Leave a Comment

A USDA grains analyst says China’s recent purchases of U.S. corn may not amount to much this year or next year. China has made two recent purchases, and possibly a third, for as much as 600-thousand tons, “It’s still a small number relative to U.S. trade. It’s about one-percent of U.S. trade, so, it’s not a gigantic number but it’s interesting to the trade because it IS China.”

That’s USDA analyst Jerry Norton who says China’s short crop last year and current $7 a bushel price for corn explains its interest in purchasing less expensive US corn this year. Traders are hoping China will be a big buyer but Norton says that’s not likely, “With a normal crop you would expect them to be not in the market to buy U.S. corn next year.”

Norton says it all depends on how China’s corn crop, that is just now being planted, turns out this year.

USDA contributed to this report

Filed Under: Crops, Markets, News, USDA/Government Tagged With: , ,
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