Higher 2023 Crop Costs Projected

In the first release of the 2023 Illinois Crop Budgets on farmdocdaily, costs were projected to increase next year. At projected costs, per bushel prices of $5.30 for corn and $12.75 for soybeans result in only marginal profitability, similar to levels experienced from 2014 to 2019, said University of Illinois Agricultural Economists Gary Schnitkey, Krista … Read More

Drought Hastening Cow, Heifer Cull

Drought advanced rapidly across Oklahoma in July, said Oklahoma State University Extension Livestock Specialist Derrell Peel, in a letter to Extension Agents called Cow-Calf Corner, and the beef industry is poised to see the largest single-year beef cow herd decrease in more than 35 years. At the end of June, the National Weather Service Drought … Read More

Farmer Sentiment Rises Despite Headwinds

The monthly Purdue University/CME Group Ag Economy Barometer farmer sentiment index rose six points in July to a reading of 103, said a release from Purdue Agricultural Economist James Mintert, in a release. The Ag Economy Barometer is calculated each month from 400 US agricultural producers’ responses to a telephone survey.  This month’s survey was … Read More

Q2 Farm Loans Grow In Size, Number

Larger sized farm loans in the second quarter continued to boost lending activity while farm loan interest rates edged higher, said Kansas City Federal Reserve Bank Economists Ty Kreitman and Cortney Cowley in a release. The volume of non-real estate agricultural loans grew at a steady, 17% pace alongside an increase in the number and … Read More

Managed Money Doubles Down On Cattle Futures

Large commodity index funds, known as managed money, more than doubled their collective net long live cattle futures position during the week ended Tuesday as hedgers extended their total net short position. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   FUNDS GO FOR CATTLE   Tuesday, managed … Read More

Cull Cow Slaughter Outlook Cloudy

Fed by a variety of factors, cull cow slaughter is high, but where it goes from here is a cloudy picture, said Elliott Dennis, Extension livestock economist at the Univeristy of Nebraska, in a letter to Extension agents from the Livestock Marketing Information Center called In The Cattle Markets. Inflation, low corn/soybean stock-to-use ratios and … Read More

Choice Beef Holding In Narrow Range

The choice boxed beef cutout value continues to hold within a narrow range at a level significantly higher than the 2016-2020 average as consumers remain attached to the choice product. Some market analysts give credit to Federal economic stimulus money for sending consumers to the choice beef section of the food case rather than the … Read More