Trucking reciprocity with Mexico eases trade tension

The pilot program allowing trucks from Mexico into the U.S. began Friday. It’s part of an agreement on tariffs and trade reached last March between the Obama Administration and Mexico. It allows Mexican truckers and U.S. truckers to operate across each other’s borders for up to three years. It’s also the official implementation of the… Read more »

Senate recesses without passing ag approps bill

The Senate has recessed for a week…without passing the ag appropriations bill. Leadership had hoped to wrap-up the spending package before leaving town but after dealing with a dozen amendments and a vote invoking cloture at 1:40 Friday morning, hung-it-up for the day. They will take the bill up when they return to Washington on… Read more »

Overall, a nice week for dairy markets

For the week, cash cheese barrels are unchanged, blocks are 3 cents higher, butter is 2.5 cents higher and the October, November, December average Class III price increased 29 cents. Cheese stocks declined a bit in September. The monthly Cold Storage Report from USDA puts total cheese in storage at 1.04 billion pounds, down 2… Read more »

Grains and oilseeds drift late

Soybeans were lower on profit taking and technical selling. Soybeans started higher but with no fresh demand news, contracts just couldn’t follow through. The trade’s been talking a lot about fresh Chinese interest with nothing surfacing over the past several days. Still, losses were limited by scattered harvest delays and the firm cash basis. Soybean… Read more »

Food Day: Eat real and reform factory farms

Monday, October 24th is Food Day, a nationwide campaign encouraging Americans to “eat real”.  Organizers say there will be over two-thousand Food Day events held across the country. Food Day is sponsored by the Center for Science in the Public Interest.   Jeff Cronin is a spokesperson for that group. “We’re not a vegan organization, but… Read more »

Beef stocks down on month while pork rises

USDA reports red meat in cold storage as of the end of September were up 5% on the month and 12% on the year at 944.544 million pounds. Overall, the numbers reflect solid demand for beef and much slower than expected demand for pork. Beef came out at 428.081 million pounds, down slightly on the… Read more »

Peel points to weight breakdowns

USDA’s estimate for September cattle placements showed a slight year to year increase bur according to one analyst, the number may not cause a major reaction. Derrell Peel, livestock marketing specialist at Oklahoma State University, tells Brownfield the key for placements was in the weight breakdowns, “All of the increase was in the lightweight category… Read more »

Boxed beef values were lower but pork was higher

Except for a few live cattle sales in Kansas at 121.00 the feedlot trade was wrapped up for the week after the active trade on Thursday. Slaughter cattle on a national basis for negotiated cash trades through Friday morning totaled about 162,690 head. Last week’s total head count was 127,792. Feedlot managers will be pricing… Read more »

NCBA hopes Korean FTA will open doors

National Cattlemen’s Beef Association president Bill Donald—obviously pleased with the President’s signing of the FTAs—hopes the South Korean agreement will open doors with other countries in the Asian-Pacific Rim area. “We’ve got some issues there with countries that have artificial trade barriers, such as Japan and China,” Donald says, “and I hope as they see… Read more »

Closing Grain and Livestock Futures: October 21, 2011

Dec. corn closed at $6.49 and 1/4, down 1/4 cent Nov. soybeans closed at $12.12 and 1/4, down 12 and 3/4 cents Dec. soybean meal closed at $316.50, down $3.80 Dec. soybean oil closed at 51.25, down 14 points Dec. wheat closed at $6.32, up 1 and 1/4 cents Oct. live cattle closed at $121.92,… Read more »