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New cattle show lists are larger than last week

May 31, 2011 By 1 Comment

Packer inquiry into the cattle on Tuesday was quite limited with a few bids noted in the South at 104.00. New show lists are mostly larger with only Texas reporting a slightly smaller offering. Early asking prices are around 107.00 plus in the South and 175.00 plus in the North. Trading could surface as early as Wednesday given short bought packers and attractive processing margins. The slaughter totaled 130,000 head, even with last week, but 1,000 more than a year ago.

Boxed beef cutout values were firm on moderate demand and offerings. Choice beef was down .31 at 177.46, and select was .78 lower at 173.39.

Chicago Mercantile Exchange live cattle contracts settled 32 to 90 points higher with the exception of the spot June.  Traders backed away from early session highs. Support in the remainder of the contracts came from expectations of good retail demand over the holiday weekend and predictions f higher cash cattle prices this week.  June settled .35 lower at 103.75, and August was up .32 at 105.37.

Feeder cattle settled 165 to 260 points higher on the support from the live pit along with the softness in corn futures. August was up 1.65 at 124.37, and September was up 1.72 at 125.97.

Feeder cattle receipts at the Herreid Livestock Market, Herreid, SD totaled 8836 head last week.  The previous week’s sale had very few steers for comparison to this week, however higher undertones were noted. Heifers under 700 pounds sold 2.00 higher. It was an active market with good demand. The sale barn was full of Midwest order buyers, farmer feeders and grass cattle buyers. Feeder steers medium and large 1; 777 head weighing 823 pounds brought 122.92 per hundredweight. 549 heifers weighing 772 lbs traded at 120.30.

Lean hog contracts ended the session 65 to 132 points higher despite sharply lower cash prices in the direct trade at midday. Support came from a weaker dollar and outside market strength. June settled 1.25 higher at 90.17, and July was up 1.32 at 89.92.

Hog market activity was slow with light demand. Barrows and gilts in the Iowa/Minnesota direct trade closed 7.58 lower at 87.21 on a carcass basis, the West was down 6.94 at 87.19, and the East was .63 lower at 87.95. Missouri direct base carcass meat price closed steady from 81.00 to 84.00.

The pork trading was slow to moderate, with light to moderate demand and offerings. Pork carcass cutout value was down .18 at 89.86.

Tuesday’s hog slaughter was estimated at 423,000 head, 15,000 more than last week, and 12,000 greater than a year ago.

Though evidence remains piecemeal, there are some signs of herd liquidation in hog country. For the week ending May 14, federally inspected sow slaughter totaled 55,600 head, 2.6% larger than last year. The higher corn prices work, the more likely farrowing barns will put on the brakes.

 

Filed Under: Uncategorized

Wisconsin welcomes warmer weather

May 31, 2011 By Leave a Comment

Despite some weather delays, the planters had another busy week in Wisconsin last week. The National Ag Statistics Service Wisconsin Field Office reports that as of Sunday, 80 percent of the state’s corn crop is planted with 39 percent emerged. While still behind the 92 percent planted, 65 percent emerged normally by this date, you have to remember that most of that has been planted in the last few weeks.

Half of the Badger State soybean crop is now planted; double what was in the ground a week ago but 25 percent behind the five-year average. 12 percent of the beans have emerged.

Oats planting is now 90 percent complete with 68 percent emerged. Winter wheat is rated 79 percent good to excellent condition across the state although Langlade County reports 20 percent winterkill.

The lack of heat and even a little frost not helping growing conditions however the forecast is much warmer this week. Farmers in the southcentral and southwest districts cut some first-crop hay last week; we may see a lot more of that this week as the relative feed value peaks.

Statewide soil moisture is listed 82 percent adequate and 17 percent surplus.

Read the full NASS report here:

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

No funding for new GIPSA rules

May 31, 2011 By 2 Comments

The House Appropriations Committee has approved the Fiscal Year 2012 funding bill for USDA and the Food and Drug Administration. The package does not fund the proposed changes to the Grain Inspection Packers and Stockyards Administration (GIPSA) rules.

Supporters of the GIPSA rule say it is needed because too few packers control too much of the meat industry. Opponents say it would eliminate marketing agreements which reward producers for providing higher quality beef and pork.

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

Say “good-bye” to the Food Guide Pyramid

May 31, 2011 By 2 Comments

In an effort to change American eating habits and fight obesity, the Obama Administration is going to replace the Food Guide Pyramid with a “dinner plate”. The new icon is going to be rolled out on Thursday and will feature four sections representing the four main food groups: fruits, vegetables, grains and protein. Next to the “plate” will be a circle to represent dairy. Each section will be a different color with the size of the portion depicting the most recent dietary guidelines released by USDA last January.

The nation’s first food-guide visual was released in 1958; a rectangle divided into the four food groups. The rectangle was replaced by the Food Guide Pyramid in 1992 it evolved into “My Food Guide Pyramid” in 2005. Critics say that update muddied the lines between healthy and unhealthy foods something the new “plate” is supposed to correct.

Filed Under: Human Interest, News Tagged With: , , , , ,

Dairy markets higher, profitability lower

May 31, 2011 By Leave a Comment

Even though milk production is pretty strong and more milk is available as schools close down for the summer, cash cheese keeps gaining strength. Cash cheese barrels jumped 5.25 cents on the Chicago Mercantile Exchange on Tuesday while blocks moved 6-cents higher to have both close at $1.87. Once again, there were no sales, a couple of unfilled bids setting the market. Class III futures jumped as well with the July, August and September contracts all over the $19.00 mark now.

The Preliminary Index of Prices Received by Farmers in May slipped 0.6 percent from April, the Crop Index was 1.9 percent lower and the Livestock Index was unchanged. The May corn price averaged $6.15 per bushel, down 20 cents from April, soybeans slipped a dime to average $13 per bushel but the all hay price was up $28 to $169 per ton, alfalfa jumped $31 to average $186.

As a result, the cost of feed to generate 100 pounds of milk increased 44 cents to a new high of $11.15. Meanwhile, the May all milk price averaged $19.40 per hundredweight, down 20 cents from April leaving the income over feed cost at $8.25 down 74 cents from April and down $2.62 from March. That kind of reduction in profitability could easily lead to a reduction in production later this year as producers cull more cows.

Cooperatives Working Together (CWT) accepted 10 requests for export assistance from Darigold and Dairy Farmers of America to sell a total of 2,579 metric tons (5.686 million pounds) of Cheddar, Gouda, and Monterey Jack cheese to customers in Asia, South America, and the Middle East. The product will be delivered June through November.

In 2011, CWT has assisted members in making export sales of Cheddar, Monterey Jack, and Gouda cheese totaling 17,756 metric tons (39.1 million pounds) to 20 countries on four continents.

Filed Under: Dairy, News Tagged With: , , ,

Rain keeps many Iowa farmers out of the field

May 31, 2011 By Leave a Comment

Widespread rain in Iowa last week either delayed fieldwork or kept farmers out of the fields entirely.

The state office of the National Ag Statistics Service says producers in South Central areas were completely unable to do needed fieldwork because of the rain and localized heavy precipitation caused erosion and ponding.

Compounding the heavy rainfall, high winds prevented the timely spraying of weedy fields.

There were only 2.1 days suitable for fieldwork and 32% of topsoil and 27% of subsoil have surplus moisture.

97% of corn is planted, in line with a year ago, and 90% has emerged, compared to 85% on average, with 80% in good to excellent condition.

87% of soybeans are planted, compared to 88% last year and 52% has emerged compared to 50% a year ago.

79% of oats are rated good to excellent, with 67% of hay and 68% of pastures also in good to excellent shape.

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

Wheat leads corn, soybeans lower on easing of supply concerns

May 31, 2011 By Leave a Comment

Soybeans were lower on profit taking and technical selling, along with spillover from corn and wheat. There was no real fresh news and beans are keeping an eye on the weather. USDA reports 51% of soybeans are planted, compared to 71% both last year and on average, and 27% has emerged, compared to 43% last year and 39% on average. Soybean meal and oil were down modestly following soybeans. China’s Ministry of Commerce projects May soybean imports at 5.4 million tons with June purchases projected at 4.835 million. The International Grains Council expects European Union soybean imports for 2010/11 to hit 13.7 million tons, an increase of 26% on the year, due to a decline in rapeseed production.

Corn was lower on technical and fund selling, in addition to spillover from wheat. After the long weekend, the trade expected solid planting progress, and the end of Russia’s export ban would reduce global demand for U.S. corn to at least some extent as the majority of Russia’s exported wheat is feed grade. According to the Ag Department, 86% of corn is planted, compared to 97% last year and 95% on average with 66% emerged, compared to 83% last year and 78% on average and 63% of the crop rated good to excellent. Ethanol futures were mostly lower. Rabobank estimates 2011 Chinese corn imports at “several times larger” than 2010’s 15 year high of 1.6 million tons as China’s Ministry of Agriculture’s National Feed Work Office states 2010 corn consumption by feed mills was 74.7 million tons, an increase of 20% from 2009.

The wheat complex was sharply lower on speculative and commercial selling. Russian Prime Minister Vladimir Putin says Moscow will let its grain export ban expire July 1; the crop’s expected to be around 85 million tons with domestic consumption at 68 million and possible exports of 15 million tons of grain. Also, there are potential record crops this year for Australia, China and India, further easing supply concerns. For winter wheat, 72% has headed, compared to 73% last year and 76% on average and 33% of the crop is in good to excellent condition, up 1% from last week. For spring wheat, 68% is planted, compared to 94% last year and 95% on average and 40% is emerged, compared to 81% both last year and on average. European wheat was modestly lower on that news from Russia and some light weekend rainfall in Europe. France’s Ag Minister Bruno Le Maire, via Dow Jones Newswires, stated “It is impossible to know the loss of yield now, but we already know there will be a loss” due to a brutal drought in Western Europe’s top producer of soft wheat. The International Grains Council projects 2011/12 wheat exports by Australia at 18 million tons which would be the largest in more than ten years. Algeria bought 50,000 tons of optional origin milling wheat and Japan issued a tender for 73,045 tons of U.S. dark northern spring and 39,170 tons of Canadian western red spring.

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

Farm bill field hearing held in Michigan

May 31, 2011 By Leave a Comment

The first Senate Agriculture Committee field hearing on the 2012 Farm Bill was today  in the home state of committee chair, Senator Debbie Stabenow (D-Michigan).

Stabenow says the Farm Bill is really a “jobs bill.” With one in four jobs in Michigan relying on agriculture, she says the state’s ag sector has grown faster than the rest of its economy. Stabenow says she’s “committed to keeping that momentum going” and an important part of that is attracting younger people into farming.

Stabenow asked Ben LaCross, a Michigan cherry grower, who chairs the American Farm Bureau’s Young Farmers and Ranchers Committee, what’s key to bringing younger farmers into an aging industry.

LaCross says the AFBF partnership with USDA on the new “Start to Farm” program is getting a great response. And, he says the Farm & Ranchland Protection program is helping in Michigan and other states.

“That’s protected a lot of desirable land for development and that’s been able to keep that in agriculture,” LaCross testified. “So, that’s been another avenue where young farmers can defer some of those high asset costs and be able to do what they want to do which is grow food.”

LaCross says young farmers are getting creative, “They’re partnering with retiring farmers so they can build up a sweat equity in the retiring farmer’s operation so that when that farmer is ready to retire they can take over.” The online tool “FarmLink.Net” is a way to make those connections.

Witnesses from pork, dairy, sugar beets, specialty crops, conservation, and other ag and related sectors in Michigan also testified.

 AUDIO: Senate Ag Field Hearing on 2012 Farm Bill, Michigan (23:00 mp3)

FarmLINK

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

Ag groups concerned about threat of GPS interference

May 31, 2011 By Leave a Comment

Representatives from major ag organizations met recently in Washington to hear about potential interference with GPS systems if a pending waiver is granted.  The issue involves a company called LightSquared that is working on wireless broadband.  LightSquared has asked the FCC to allow it more on-land use of the electromagnetic spectrum, including an area bordering that used by GPS devices.  If the proposed changes are made, tests show GPS interference could occur because of what are called “out of band emissions”—meaning signal leaks from one band into another—or from “front end saturation”—meaning receivers take in signals from another band.  We discussed the issue with RJ Karney, who works on rural development issues for the American Farm Bureau Federation.

AUDIO: RJ Karney (5 min MP3)

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

86% of corn, 51% of soybeans planted

May 31, 2011 By Leave a Comment

U.S. corn and soybean producers had another solid week of planting progress, but the planting and emergence paces both remain quite a bit behind average.

As of Sunday, 86% of corn is planted, compared to 97% a year ago and the five year average of 95%. The pace continues to vary widely by region, from a low of 19% in Ohio to complete in North Carolina. Emergence is at 66%, compared to 83% last year and 78% on average, with that pace also varying widely depending on region. 63% of the crop is in good to excellent condition, compared to 76% this time last year.

51% of soybeans are planted, 20% behind both the year ago pace and the five year average with a low of 7% in Ohio to a high of 90% in Louisiana. 27% of soybeans have emerged, compared to 43% last year and 39% on average.

Winter wheat continues to show the impact of a dry, hot spring for hard red and a wet, cool season for soft red with 33% in good to excellent shape, up 1% from last week but down 32% from a year ago.

Spring wheat planting is slower than normal due to wet, cold conditions in the Northern Plains with 68% of the crop sown, compared to 94% last year and 95% on average. 40% of spring wheat has emerged, compared to 81% for both a year ago and the five year average.

55% of U.S. pastures and rangelands are in good to excellent condition compared to 54% a week ago and 69% a year ago.

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