Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines.
This week in the markets – Live fed cattle prices are $2.40 lower on the week, while feeder cattle prices were largely untested due to the Thanksgiving holiday. February live cattle were down $2.20 on the week, and January feeder cattle were down $5.30 on the week. Choice box beef was up $1.15 this week. Cash hogs are down $1.70 this week. February lean hog futures were up $0.90 on the week. Pork cutout values were virtually unchanged this week.
Weekly Slaughter Numbers – At the end of the week, cattle slaughter was 635,000 head, up 97,000 on the week but down 25,000 for the year. Hog slaughter was 2.704 million head, up 479,000 from the previous week and up 121,000 on the year. Year-to-date cattle slaughter is down 4.7%, while hog slaughter is up 1.6%.
Farm Income – USDA raised their 2023 farm income estimate by about $10 billion relative to their August estimate. This estimate remains more than $20 billion below the 2022 level. Livestock cash receipts are expected to decline by $13 billion in 2023 relative to 2022, despite an increase of more than $14 billion in cattle and calf receipts.
Restaurant Performance Index - Decline for the third month in October -- due to a lower situation index. Customer traffic fell three points in October relative to September.
Quarterly Ag Trade Outlook – U.S. agricultural exports in FY24 have been lowered by $2.5 billion relative to the August forecast. FY24 livestock export value is estimated at $36.3 billion, a decline of $5.5 billion from the record FY22 level.
Next week's reports – Monthly Trade Data, Jobs Report and WASDE
Learn more about what's happening in the markets: https://brownfieldagnews.com/ag-markets/
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this Cab Conversation with Bayer Channel Seed and VT4 Pro, a Channel Technical Agronomist talks about what trait technology she utilizes on her farm.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this Cab Conversation with Bayer Channel Seed and VT4 Pro, learn more about protecting the potential of your crops to maximize the return on investment.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Brownfield Commodity Market Reporter John Perkins has your look at the higher moves in wheat and corn, the losses in soybeans, and the mixed closes for cattle and hogs.
Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/
Find more agriculture news here: https://brownfieldagnews.com/
The latest commodity and livestock futures:
➡︎ May corn $4.41 and ¾ up $.02
➡︎ May soybeans $11.79 and ¼ down $.04 and ¾
➡︎ May soybean meal $337.20 down $4.20
➡︎ May soybean oil 46.64 up 47 points
➡︎ May Chicago wheat $5.47 and ¼ up $.09 and ½
➡︎ April live cattle $187.60 unchanged
➡︎ April lean hogs $83.27 down $1.10
Connect with us:
➡︎ X (formally Twitter): https://twitter.com/brownfield
➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews
➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A
Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Get the most out of your land to improve the bottom line in this Cab Conversations with Bayer Channel Seed and VT4 Pro.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Learn more about battling pests both above and underground in this episode of Cab Conversations with Bayer Channel Seed and VT4Pro.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Enlist Field Specialist Mark Mongen says farmers need to get a jump on weed control this season. He recommends spring tillage or a burndown herbicide application, and says a combination is also an option.
Find more resources on this and other crop protection topics at Corteva.us/Profit.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk about the USDA raising beef production in the latest Supply and Demand report.
Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/
Find more agriculture news here: https://brownfieldagnews.com/
This week in the markets:
Live fed cattle prices are $1.85 higher on the week, while feeder cattle prices were $3.00 to $6.00 higher this week. April live cattle were down $0.65 on the week, and April feeder cattle were down $4.25 on the week. Choice box beef was $2.70 higher this week. Cash hogs are up $0.65 this week. April lean hog futures were down $3.30 on the week. Pork cutout values were up $0.50 this week.
Weekly slaughter:
At the end of the week, cattle slaughter was 583,000 head, down 16,000 on the week and down 48,000 for the year. Hog slaughter was 2.456 million head, down 93,000 from the previous week and down 52,000 on the year.
Jobs report:
February jobs totaled 275,000, above the pre-report estimate of 198,000. However, the unemployment rate increased to 3.9%
Monthly trade data:
January 2024 beef exports totaled 232.6 million pounds, down 4.1% relative to the year-ago level. Mexico increased U.S. beef by 17.2% in January relative to one year ago. January beef imports increased by 38.1% relative to last year as Brazil, Australia, and New Zealand all sent more beef to the U.S. Pork exports rose 5.8% in January relative to last year at 587.8 million pounds.
WASDE:
USDA raised March beef production by 140 million pounds and increased beef imports by 50 million pounds. Total beef, pork, and chicken production was increase by 270 million pounds from USDA’s February numbers. USDA lowered corn prices by $.05 this month.
Next week's reports:
➡︎ Retail Prices
➡︎ Consumer Sentiment
Connect with us:
➡︎ X (formally Twitter): https://twitter.com/brownfield
➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews
➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A
Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Brownfield Commodity Market Reporter John Perkins has your look at the higher moves in soybeans, corn, and wheat, the lower close in cattle, and mixed hogs.
Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/
Find more agriculture news here: https://brownfieldagnews.com/
The latest commodity and livestock futures:
➡︎ May corn $4.39 and ¾ up $.01 and ¾
➡︎ May soybeans $11.84 up $.17 and ¾
➡︎ May soybean meal $341.40 up $7.00
➡︎ May soybean oil 46.17 down 18 points
➡︎ May Chicago wheat $5.37 and ¾ up $.09 and ¼
➡︎ April live cattle $187.60 down $1.12
➡︎ April lean hogs $84.37 down $.15
Connect with us:
➡︎ X (formally Twitter): https://twitter.com/brownfield
➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews
➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A
Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Listen to this episode of the Compeer Financial Podcast where Leigh Rodebaugh discusses what's next for first-time rural home buyers.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Michael Porter, John Deere go-to market manager for large tractors, says Deere’s 9RX 830 is part of a new lineup of high horsepower tractors in the four-track configuration.
On display at Commodity Classic in Houston, Texas last week, he tells Brownfield features include a new engine and new frame.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Stay up to date
For any inquiries, please email us at hello@podcastworld.io