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Pigford II settlement claims period opened

November 28, 2011 By Leave a Comment

Agriculture Secretary Tom Vilsack reminded African-American farmers and ranchers the filing period to make a claim in the Pigford II settlement has opened.  Vilsack said African-American farmers and ranchers who believe they are entitled to compensation under Pigford II must file a claim within 180 days in order to receive cash payment or loan forgiveness.  In February of 2011 the USDA and Department of Justice announced an agreement with African-American farmers to settle the class action lawsuit for $1.25 billion after Congress passed the Claims Resolution Act of 2010 that funded the settlement in November 2010, and the bill was signed by President Obama in December 2010.

The filing period opened November 14th and continues for 180 days until May 11, 2012.  For more information regarding claims visit www.blackfarmercase.com.

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

U.S. corn harvest essentially over

November 28, 2011 By Leave a Comment

At least on a statistical basis, USDA reports this year’s U.S. corn harvest has wrapped up.

However, there are still some key growing areas that have work left to do with Indiana at 95% complete and Ohio at 76%.

USDA adds 92% of the winter wheat crop has emerged, compared to 87% a week ago, 93% a year ago, and the five year average of 92%. 52% of winter wheat is in good to excellent condition, up 2% from last week and 5% more than this time last year.

This is the final scheduled national crop report of the year with 2011 corn and soybean production totals out in January.

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

Closing Grain and Livestock Futures: November 28, 2011

November 28, 2011 By Leave a Comment

Dec. corn closed at $5.91 and 3/4, up 9 and 1/4 cents
Jan. soybeans closed at $11.21, up 14 and 1/2 cents
Dec. soybean meal closed at $287.80, up $5.10
Dec. soybean oil closed at 48.91, up 68 points
Dec. wheat closed at $5.74 and 3/4, up 1/4 cent
Dec. live cattle closed at $120.95, down 15 cents
Dec. lean hogs closed at $87.55, down 75 cents
Jan. crude oil closed at $98.21, up $1.44
Mar. cotton closed at 91.35, up 48 points
Dec. Class III milk closed at $18.77, up 64 cents
Dow Jones Industrial Average: 11,523.01, up 291.23 points

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

Pork carcass value was up but beef was down

November 28, 2011 By Leave a Comment

Formula totals in the cattle were mixed last week, smaller in Kansas and Texas, but larger in Nebraska. The total trade volume was also mixed, larger in Kansas and Nebraska, but smaller in Texas. The new show lists have been collected and they appear to be generally larger than a week ago, and that is not surprising given the implications of the large mid-summer placement. Bullish cattle feeders will probably start with asking prices of 126.00 to 127.00 live and 202.00 to 204.00 dressed. Significant cattle trade may not develop until late in the week as packers continue to suffer from negative margins and will hold off buying cattle at higher prices. The slaughter was estimated at 126,000 head, 6,000 less than last week, and down 3,000 from last year.

Despite a surge higher in the early trade, the live cattle futures market gave back nearly all of its initial support to close unchanged to 35 points higher on the Chicago Mercantile Exchange and December ended lower. The lack of additional follow through after the strong cash gains last week created additional concern that overall support across all sectors of the market may be falling into a post holiday lull. Spot December settled .15 lower at 120.95, and February was up .25 at 122.55.

Boxed beef cutout values were steady to weak on light demand and moderate offerings. Choice beef was down .30 at 195.93, and select was .09 lower at 176.96.

Feeder cattle ended the session unchanged to 37 points higher with only March in the red. Feeders gained early but the pressure in the live pit near midday limited gains. January was up .10 at settlement at 144.72, but March was down .10 at 147.35.

[Read more...]

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

Hoosier Beef Congress celebrates 25 years

November 28, 2011 By Leave a Comment

The 25th Hoosier Beef Congress heads to Indianapolis this weekend.  Joe Moore, Executive Vice-President of the Indiana Beef Cattle Association says it’s hard to believe it’s been 25 years and for a special 25th Anniversary celebration they’ll be holding a reception for the committee members and founding fathers of the event on Thursday evening at the state fairgrounds.  Moore says it’ll give people a chance to reminisce and share stories about the HBC and even give people the opportunity to reconnect. 

In its 25 years, Hoosier Beef Congress has continued to evolve.  Moore said the show began in 1987 with just over 600 head of cattle, last year over 1,000 youth showcased almost 1,400 head.  He says the show is a great way to engage exhibitors.  Moore tells Brownfield they also try to focus in on an educational experience with the judging contest for the junior exhibitors as well as other events to expand their knowledge of the beef industry.

Hoosier Beef Congress runs December 2-4 at the Indiana State Fairgrounds.  For a complete schedule of events, visit www.hoosierbeefcongress.com.

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

NPPC is friend of court in CA downer lawsuit

November 28, 2011 By Leave a Comment

The National Pork Producers Council (NPPC) has weighed in on the case in California that has reached the U.S. Supreme Court about a state law that bans downer animals from entering the food supply. A 2008 California law calls for euthanizing non-ambulatory, or “downer” animals, immediately, which is contrary to federal law, which allows time for inspection of those animals by veterinarians.

NPPC President Doug Wolf of Wisconsin tells Brownfield they have filed a friend of the court brief along with the American Association of Swine Veterinarians.

“Part of the current situation is that if you do have an animal that is a downer animal, they are set aside and the veterinarian goes in and assesses them. That’s an important part as far as determining – is there a possibility of a foreign animal disease or some other disease?” Wolf tells Brownfield.

According to FarmFutures.com, the California law was passed after a video was released by the Humane Society of the United States (HSUS) showing downed cows at a California beef packing plant being mistreated.

The National Meat Association is asking the US Supreme Court – which heard oral arguments in the case earlier this month – to rule that the Federal Meat Inspection Act pre-empts California’s state law. A federal district judge blocked the California law but the US Appeals Court in San Francisco overturned that lower court ruling last year. Farm Futures reports several justices indicated during the hearing that California may have gone too far. A Supreme Court ruling is expected by next June.

Filed Under: Livestock, News Tagged With: , , , ,

Strong land prices continue

November 28, 2011 By Leave a Comment

At a recent land sale in Boone County, Ill., 3,355 acres of farmland sold for over $25.5 million.  R.D. Schrader, president of Schrader Real Estate & Auction said some bids on tillable land were more than $10,000/acre.  At the end of the auction, he said, one bidder purchased just over 2,400 acres for more than $19 million.  The remaining acreage was purchased by 14 other bidders.

Schrader says local bidders generally have greater appreciation for the land and they were glad to see bidders from the area out bid multiple investment funds looking to make purchases.

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

Update on the Panama Canal

November 28, 2011 By Leave a Comment

A group of US soybean growers recently visited the Panama Canal and American Soybean Association Vice President Bob Worth along with representatives from other agriculture groups received an updated on projects to increase access from the Pacific and Atlantic oceans.  According to a report from ASA, Worth said the update to the Panama Canal will save 18 days of transportation to ship products through the canal instead of around South America.

Worth said the old canal system’s waters could only take Panamax ships filled 2/3 of the way because the canal was not deep enough.  With the expansion, Panamax ships will now be able to pass through fully loaded.  Right now 44 percent of American soybeans go through the Panama Canal, with the update; Worth says that figure will increase to 60 percent.

Filed Under: News, World Ag News/Trade Tagged With: , ,

Issues facing the cattle industry

November 28, 2011 By Leave a Comment

At the NAFB convention in Kansas City in early November, we talked with J.D. Alexander, a cattleman from Pilger, Nebraska and president-elect of the National Cattlemen’s Beef Association.  We covered a wide range of topics with Alexander—including the strong cattle market, over-regulation, free trade agreements, GIPSA—and the recent acrimony in the cattle industry.

AUDIO: J.D. Alexander (7:35 MP3)

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

Biodiesel board highlights record production

November 28, 2011 By Leave a Comment

The National Biodiesel Board is using the latest record biodiesel production number in urging Congress to renew the biodiesel tax incentive that is set to expire at the first of the year.

According to the EPA, the industry has produced more than 802 Million gallons of biodiesel in the U.S. so far this year – setting a new record for annual production – more than doubling the production last year. The NBB says that number would not have been reached if Congress had not reinstated the biodiesel tax credit at the end of 2010 that it had allowed to expire at the end of 2009.

Bipartisan legislation was introduced in June to extend the one-dollar-a-gallon biodiesel tax credit through 2014. The three-year extension was put forth in the House by Democrat Collin Peterson of Minnesota and Republican Aaron Schock of Illinois and by Republican Senator Chuck Grassley of Iowa and Senate Democrat Maria Cantwell of Washington. Congress returns to Washington this week.

Biodiesel is ‘a great comeback story’

Filed Under: News, Renewable Energy Tagged With: , ,
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