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. ...
The USDA says there were 2 million cattle placed into U.S. feedlots during January 2022. That’s down 1% from January 2021, with concerns about high feed costs partially canceling out the impact of poor pasture conditions and tight hay supplies in many of the major feeding areas. About three quarters of the monthly total weigh less than 800 pounds, which might be an indication ranchers are expecting lower feed costs […]
Dryness in the Central and Western states is impacting nearly $160 billion of U.S. ag production. Data from the American Farm Bureau shows most of the U.S.’s top ag commodities are grown or raised in states experiencing extended dryness – like 81 percent of cattle and calves. Jon Doggett, National Corn Growers Association CEO, tells Brownfield his family’s ranch in Montana is in desperate need of moisture. “We had a […]
Organic farmers are looking for better representation in the next farm bill. Midwest Organic and Sustainable Education Service (MOSES) executive director Lori Stern says organic farmers seem to be in the minority compared to conventional crop and livestock producers. “In the past, it’s just not been very front and center. It’s a smaller staff at the USDA that works on organic farming, and across the USDA programs farmers interact with. […]
The president of the National Association of Wheat Growers says while USDA has increased its outlook for planted acres, conditions remain variable. Michigan farmer Dave Milligan tells Brownfield some farmers couldn’t get the acres they wanted planted last year because of questionable conditions and rain and ice have continued to beat the crop over the winter. “The crop probably isn’t dead yet, we’ll have to see what happens in the […]
