At the Chicago Mercantile Exchange, live cattle were lower ahead of Friday’s On Feed numbers, feeder cattle were higher on the lower corn. April live cattle closed $.37 lower at $141.92 and June live cattle closed $.30 lower at $138.30. March feeder cattle closed $.92 higher at $160.02 and April feeder cattle closed $.95 at $164.75. It was a relatively quiet week for direct cash cattle trade. Friday ended with […]
A global fertilizer expert says recent events have dampened his optimism for a decrease in fertilizer prices this spring. Josh Linville with StoneX tells Brownfield up until this past week, record high fertilizer prices were starting to ease. “We actually had been seeing fertilizer prices come off. Prices of phosphate had come off a little bit and prices of urea had come off a pretty decent chunk.” But he says […]
A $1.4 billion one-time investment in Michigan agriculture aims to make major improvements in infrastructure, food distribution, and other areas of one of the state’s largest industries. “We will shorten the supply chain channels, making sure we have secure, safe, and nutritional food available for all.” State Senator and bill sponsor Roger Victory tells Brownfield part of the funding is earmarked for needs in rural communities which aren’t equipped to […]
Following Russia’s invasion of Ukraine, a former Chief Ag Negotiator for the US Trade Representative is keeping a close eye on food inflation and consumer reactions around the globe. “I’m watching China very closely because they are the biggest player on the block in agriculture these days across the board.” Gregg Doud now serves as the Vice President of Global Situational Awareness for Aimpoint Research. He tells Brownfield 4th quarter […]
A dairy economist says U.S. milk production was way below expectations along with New Zealand numbers for January. “The supply situation just keeps getting worse.” Nate Donnay with StoneX says the real breakdown of milk production in the U.S. came in the form of milk per cow. “January was down 42 pounds, that’s a record deviation from trend,” he says. While some analysts speculate reduced production is tied to feed […]
Soybeans were sharply lower on profit taking and technical selling, pulling contracts lower for the week. The Russian invasion of Ukraine was ongoing during Friday’s session, but beans sold off with spillover from bean meal, vegetable oils, and crude oil. Ahead of Friday’s open, unknown destinations bought 285,000 tons of U.S. beans, with 159,000 tons for 2021/22 and 126,000 tons for 2022/23, and China purchased 334,000 tons, all for 2022/23. […]
Mar. corn closed at $6.59 and 1/2, down 35 and 1/2 centsMar. soybeans closed at $15.90, down 71 and 1/4 centsMar. soybean meal closed at $448.30, down $16.60Mar. soybean oil closed at 68.75, down 325 pointsMar. wheat closed at $8.43, down 83 centsApr. live cattle closed at $141.92, down 37 centsApr. lean hogs closed at $103.67, down $1.85Mar. Class III milk closed at $21.90, down 61 centsApr. ...
Milk futures on the Chicago Mercantile Exchange saw a reversal Friday as traders took back most of their positions following Russia’s attack on Ukraine, cash markets were lower. February Class III milk was down three cents at $20.92. March 61 cents lower at $21.90. April down 75 cents at $22.48. May 53 cents lower at $22.38. June through August 20 to 33 cents lower. Dry whey unchanged at $0.78. Blocks […]
The USDA says 2021 U.S. poultry production was 51.121 billion pounds. That’s an increase of around 130 million pounds from the 2020 total. Most of annual production was chicken at 45.437 billion pounds, more than 300 million above a year ago, with turkey at 5.559 billion, about 180 million below last year. The chicken and turkey slaughter totals were both modestly lower, while average live weights were fractionally higher. ...
