USDA’s National Agricultural Statistics Service released their monthly Cattle on Feed report Friday (Feb 21). The report revealed that 10.760 million head of cattle were in feedlots with a capacity of 1,000 head or more on February 1, 2014. This represents a 2.8% decline from last year and a 5.1% decline from the average from 2009 to 2013, … Continue reading
Yesterday, a departmental research associate, Joonghyun Hwang, and I traveled to Orange Beach, AL for an annual meeting of economists who specialize in non-market valuation, which is the process of estimating the dollar value of environmental things that aren’t generally sold in markets (nice views, clean lakes, etc.). I really enjoy this meeting every year because there are a lot of good researchers there exchanging a lot of good ideas, … Continue reading
After a couple weeks of slow news for the crop markets, the outlook for the 2014 crop is beginning to take shape. The USDA released the weekly export sales report this morning, with corn exports falling around 691,400 metric tons. That is down 50% from the 4-week average. The USDA’s Agricultural Outlook Forum has been taking place the last two days and has given us some early projections for this year’s crops. … Continue reading
The latest forecast from the USDA Economic Research Service predicts a slowdown in the growth of overall farm wealth in 2014. Expectations are that overall farm debt will increase 2.3% while farm assets are expected to rise 2.4% yielding a net increase of 0.1%. This level of wealth generation in the agricultural sector is much lower than the 1.5% growth that ag. … Continue reading
Cash prices were mixed this week on limited cash sales. The five-area market price ended Friday at $141.99 and $223, respectively for live and dressed. Kansas was the only region to report any noticeable cash trade at $142 live.
Oklahoma City continues to suffer from the winter weather as trade volume was limited again. … Continue reading
From the Texas Tribune: Witchita Falls, TX, along with other Texas cities, imposed an outdoor watering ban in order to conserve water during recent drought conditions. The result? Not enough revenue to cover the costs of operating and maintaining the city’s water infrastructure.
Even though the 100,000 residents of this northwest Texas city have substantially cut their water use, … Continue reading
Monday’s World Agricultural Supply and Demand Estimates (WASDE) had a few changes for corn, soybeans, and wheat. The biggest shakeup took place in the wheat markets, while corn ending stocks were lower than expected. Corn production remained unchanged at 13.925 billion bushels but ending stocks are reduced to 1.48 billion bushels, much lower than pre-report estimates of 1.62 billion bushels. … Continue reading
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Cash cattle and beef prices fell further as weak beef prices provided plenty of pressure. The five-area live fed steer price ended Friday at $140.56, down $5.24 compared to last Friday. Cash trade was light for most of the week with sales in the Southern Plains not registering enough to call any trends. … Continue reading
Cash fed cattle came in lower this week. the five-area live price averaged $145.80 on Friday, down $2.45 from last week. This average is based largely on non-cash trade as few sales took place in the cash market given the declines.
In Oklahoma City auctions feeder steers were called steady to $1 lower, … Continue reading
The United States Department of Agriculture’s National Agricultural Statistics Service released their annual cattle inventory report Friday afternoon (Jan 31). The report was highly anticipated given the continued shrinking herd size which was exacerbated in the past few years due to drought. While it was expected that the total number of beef cows would continue to shrink, … Continue reading