At the Chicago Mercantile Exchange, live and feeder cattle ended the day higher supported by the sharply higher direct business during the week. June lives closed $1.52 higher at $176.42 and August live cattle closed $.52 higher at $172.90. August feeder cattle closed $.25 higher at $241.90 and September feeders closed $.05 higher at $245.00. It was a quiet end to the week for direct cash cattle trade following the […]
A food economist says the rate of food price increases is starting to moderate. David Ortega with Michigan State University tells Brownfield that doesn’t mean prices will revert to pre-pandemic levels. “Consumers are seeing some relief, for example, egg prices—those have come down, but overall food prices remain elevated,” he says. “And so we’re still seeing consumers trading down, seeking out sort of cheaper alternatives.” USDA reports food at home […]
An economist with CoBank says the trend towards reduced gasoline use will have an impact on farmers and the transportation sector. Teri Viswanath Teri Viswanath tells Brownfield as people transition to electric and more efficient gasoline vehicles, less gasoline will be produced and, “43% of the refining yield is gasoline, 28% is distillate and that includes diesel, so if you don’t need the gasoline, you may not be producing enough […]
The month-long planting season is wrapping up for a farmer in central Michigan. Jeff Thorlund of Greenville tells Brownfield dry conditions helped the planting season go smoothly for potatoes, corn, and soybeans. “We’ve had a dry month of May, but for planting it’s been great,” he shares. “The soil conditions have been wonderful and soil moisture has been good. We could use some rain, but right now everything seems to […]
Jul. corn closed at $6.09, up 16 and 1/2 centsJul. soybeans closed at $13.52 and 1/2, up 23 centsJul. soybean meal closed at $397.80, down $3.60Jul. soybean oil closed at 49.50, up 164 pointsJul. wheat closed at $6.19, up 8 and 1/4 centsJun. live cattle closed at $176.42, up $1.52Aug. feeder cattle closed at $241.90, up 25 centsJun. lean hogs closed at $86.72, up $3.17Jun. ...
The United States Trade Representative has filed a formal dispute settlement with Mexico over its ban of biotech corn for human consumption and animal feed. National Corn Growers Association President Tom Haag tells Brownfield the filing that’s made possible under the United States-Mexico-Canada Agreement is long overdue. “When we started talking about this in October, this is something that we are happy to see, and this is what we’ve been […]
Soybeans were higher on fund and technical buying, ending the week mixed, with nearby contracts up and deferred months down. Generally warm, dry weather in much of the Midwest should help planting but could cause early stress in some areas. Weekly old and new crop export numbers were bearish, with old crop sales at 4.5 million bushels and new crop at 11.1 million. There were no reported old crop sales […]
Sugarbeet planting is winding down in the Red River Valley. Minn-Dak Cooperative chairman Pat Freese says of the more than 100,000 beet acres grown for the co-op this year, only a few hundred remain unplanted. “And the beets that went in early, or the first ones that went in, the stands on those look really good. They were able to get the chemical on that they needed, and then of […]
A forage specialist with Winfield United says variable weather and pests are affecting hay production along the I-29 corridor, an area following the Interstate starting in Kansas City, Missouri stretching to the Canadian border. Jeff Jackson says in Missouri and eastern Kansas, the first crop of alfalfa looks good in the areas with moisture, but where it’s dry the crop isn’t good. He says cutting is behind the usual pace. […]
