The USDA is forecasting milk production to decline this year and remain flat in 2024. The agency is calling for farmers to pull back on milk per cow growth. In its June supply and demand report, the USDA raised its forecast for 2023 butter and nonfat dry milk prices because of recent price strength and strong demand, while cheese and whey prices were lowered. USDA is forecasting the Class III […]
The USDA has increased expectations for 2023 beef production, while lowering projections for pork, broilers, and turkey. Beef production is seen at 27.086 billion pounds, 165 million more than in May on higher slaughter rates, with an average steer price of $171.70 per hundredweight, $5.20 above a month ago, slightly higher consumption, and steady trade numbers. Pork is estimated at 27.376 billion pounds, 5 million less than last month due […]
A dairy analyst says several states are now dumping an oversupply of milk because dairy plants secured more than enough product this spring at lower prices and other issues have caused disruptions. Lucas Fuess with RaboResearch tells Brownfield spot milk prices have been sharply lower and it could take several months for the supply to contract. “We’re past the peak of that spring flush, but there’s still plenty of product […]
The USDA increased its cotton production and ending stocks estimates. This year’s crop is now seen at 16.5 million bales, up 1 million from May, on a higher harvested area guess, now at 9.41 million acres, 700,000 higher, which canceled out a lower yield projection of 841 pounds per acre, down 13. That increase in production mostly canceled out a lower old crop ending stocks figure and pushed the new […]
Pork producers attending the World Pork Expo are saying it’s difficult to be profitable this year. National Pork Producers Council president Scott Hays raises pigs near Monroe City, Missouri and says input costs are eating into margins. “And we’ve had these input costs for two or three years now, but the last couple years we had pig prices that still made it profitable to raise pigs. And we just don’t […]
The U.S. pork industry is suffering from a shortage of workers. National Pork Producers Council manager of competition, labor, and tax issues Christina Banoub says the low unemployment rate is causing problems nationwide. “But in the top ten pork producing states the average is 2.9 percent unemployment.” Speaking to Brownfield at the World Pork Expo in Des Moines, she says there are two job openings for every person available. ...
The USDA has increased its expectations for this year’s winter wheat crop. As of June 1st, winter wheat production is projected 1.136 billion bushels, up 1% from the May guess and 3% from 2022, with an average yield of 44.9 bushels per acre, 0.2 bushels higher than a month ago, but 2.1 bushels lower than a year ago. Planted area is expected to be 25.286 million acres. The total includes […]
The USDA raised its domestic old crop corn and soybean ending stocks projections. Corn ending stocks for the current marketing year are seen at 1.452 billion bushels, up 35 million on the month, with a reduction in imports canceled out by a cut in exports. The old crop soybean carryover pegged at 230 million bushels, 15 million more than in May on a lower export guess. Those adjustments to old […]
A Nebraska rancher is working with countries in the Caribbean Sea region to help strengthen their ag industry. Speaking with Brownfield during the West Indies Ag Conference in the Bahamas, Jaclyn Wilson says she is trying to help producers build their own food systems and supply chains. “Maybe that is looking at some direct-to-consumer marketing opportunities or kind of some niche markets where it would be really advantageous towards especially […]
