Corn was higher on fund and technical buying, in addition to short covering and spillover from beans. Demand has increased after the recent losses, especially on the end user side and there is some talk that March has bottomed out at $3.50. Even with a probable reduction from the Ag Department, the trade expects fairly large ending stocks in the USDA update. The average pre-report estimate is 1.748 billion bushels, compared to January’s figure of 1.764 billion. Ethanol futures were higher.

The wheat complex was higher on technical buying, short covering and the lower dollar index. Analysts see U.S. ending stocks steady to a little smaller than the previous month’s report. Ahead of the report, the average projection is 973 million bushels, compared to 976 million in January’s update. Those fundamentals remain very negative with a large supply and weak demand, which should be reflected in the new supply and demand estimates. Snowfall’s a negative, giving cover to the dormant hard and soft red winter crops. Iraq bought 400,000 tons of wheat from Canada. FO Licht estimates 2009/10 world wheat production at 675.5 million tons, up 1.5 million from January on a better than expected crop in the Black Sea region. Russia, according to Dow Jones Newswires, will be building a new grain export terminal on their second largest Black Sea port of Tuapse. The terminal’s expected to have an annual capacity of 2.4 million tons.

Northern Haiti has been very productive in fruit and vegetable crops in partnership with a French aid organization which is appealing through the French arm of the IFAP for help to keep the project going in order to meet the food supply demand.

The IFAP says the mass exodus of those in Port-au-Prince to the rural areas of Haiti has increased the need for help.

The IFAP says to offer moral or financial support, please contact Mr. Jean-Claude Dorsainvil, Secretary General of UHP at uhpeasants@yahoo.ca

Chicago Mercantile Exchange live cattle contracts settled 17 to 45 points higher supported by the higher cash trade last week. A lower U.S. dollar was seen as supportive to futures as it may prompt importers to buy more beef. Higher boxed beef values at midday leant additional support to futures. February was 25 points higher at 87.67, and April was up 40 at 90.80.

Feeder cattle ended the session 20 to 90 points higher with support coming from the outside markets and the live pit. March was 90 points higher and settled at 99.22, April ended at 100.02 up 35.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 6800 head. Compared to the last test two weeks ago, feeder cattle were steady to 1.00 higher and calves were steady. Demand was good. Snow was falling again in the state; however, this one is not as strong as the previous two storms.  Feeder steers medium and large 1 weighing 500 to 600 pounds traded at 103.50 to 113.00. 5 to 6 weight heifers brought 94.00 to 100.75.

Iowa/Minnesota barrows and gilts closed .72 higher at 64.46 on a carcass basis, the West was up .82 at 64.90, and the East was 1.78 higher at 63.56.Missouri direct base carcass meat price closed 3.00 to 4.00 higher from 58.00 to 62.00.  Hog slaughter was estimated at 422,000 head, 10,000 more than last week, but 1,000 less than last year. Mid-winter numbers are about as tight as they are going to get with the country offerings set to increase in the March/April time frame. Snow and cold temperatures could curtail weight gains and livestock movement in the Midwest through the middle of the week.

Lean hogs settled 80 to 222 points higher with the most significant strength in the April through August contracts. Support came from outside markets bouncing higher after heavy selling late last week. Midwest storms once again are bringing snow and strong winds to be followed by very cold temperatures and that helped to support the cash market. February hogs settled 80 points higher at 67.57, and April was up 205 at 69.77. Pork carcass cutout value was .30 lower at 68.82. Pork trading was slow with light to moderate demand and offerings.

Pork bellies settled 95 to 200 points higher on the gains in the lean contracts as well as upward momentum in the outside markets. February settled 100 points higher at 81.00, and March was up 200 at 82.00.

The survey will ask producers to provide data on their operating expenditures, production costs and household characteristics. The economic data will be released in August.

Processing tomato acreage in Indiana was up 18 percent in 2009 to 9,800 acres, production jumped 29 percent to 321,340 tons.

The Indiana field office of the National Ag Statistics service reports 2,200 acres of cantaloupes were harvested in Indiana in 2009, a 4 percent decline from the previous year, watermelon growers harvested 7,400 acres which was a 3 percent increase.

Among the speakers is Larry Elsworth, Ag Counselor to EPA Administrator Lisa Jackson. The AAI showcase and conference is February 9th and 10th at the Varied Industries Building at the Iowa State Fairgrounds.

AUDIO: Mark Reisinger, CEO of the AAI

Agribusiness Association of Iowa

Wheat came out at 16.942 million bushels, down 993,000 from the week ending January 28 and 2.339 million lower than the week ending February 5, 2009. At this point in the 2009/10 marketing year, wheat inspections are 564.507 million bushels, compared to 745.522 million in 2008/09.

Corn was reported at 27.102 million bushels, 12.345 million below the previous week and 3.414 million under a year ago. So far this marketing year, corn inspections are 693.550 million bushels, compared to 680.062 million this time last year.

Soybeans were pegged at 39.568 million bushels, 4.002 million less than the prior week and a decrease of 8.909 million from last year. For the marketing year to date, soybean inspections are 978.325 million bushels, compared to 715.899 million a year ago.

Sorghum inspections totaled 1.637 million bushels. That’s 1.838 million bushels lower than the week before and down 554,000 from a year ago. 2009/10 sorghum inspections are 73.208 million bushels, compared to 67.785 million in 2008/09.

Inspired by greater country spending last week, cattle feedlot managers will start out pricing new show lists several dollars higher. Processing margins are on the defensive and cattle buyers will be very reluctant to chase the cash trade higher unless they can get substantial help from the wholesale market. Boxed beef cutout values are higher at midday, choice beef is up .58 at 138.48, and select is up .91 at 136.37.

Feeder cattle receipts at the Ericson/Spalding Livestock Auction, Ericson, NE totaled 4850 head. Compared to last week steers trended steady, and heifers were steady to 3.00 lower to as much as 6.00 lower for 660 to 680 pound offerings. Demand was good and trade was active despite icy and cold weather conditions. Feeder steers medium and large 1 weighing 726 pounds averaged 101.88, 617 pound heifers brought 98.77 per hundredweight.

The concept has been proposed by the Humane Society of the United States. 

Among those signing the letter—the American Farm Bureau Federation, American Soybean Association, National Pork Producers Council and United Egg Producers.

The vice president for government affairs with the National Cattlemen’s Beef Association, Colin Woodall says HSUS already has a lot of access in both the Obama administration and in Congress.

“That’s what concerns us, because they truly are out to end animal agriculture,” Woodall says. “You know, they don’t talk about that publicly as much as they used to—but it’s still their ultimate goal.”

Woodall says HSUS has scaled back on legislative initiatives in Congress while it focuses on state-by-state ballot initiatives—which he thinks is part of their overall strategy.

“They know if they can get out there and win things like Proposition 2 did in California—and what they’re trying to do in Ohio right now,” Woodall explains, “if they can get to a point where they have a critical mass of states that have passed ballot initiatives, then they’ll be able to take that back to Washington and tell Congress ‘hey look, you no longer have any excuse not to move forward with our agenda because the states have already told you how they feel’.”

Woodall visited with Brownfield at the recent cattlemen’s conference in San Antonio.