Farm Loan Volume Down, Average Size Up: Federal Reserve Bank

Despite an average size increase, fewer new loans to farmers in the fourth quarter continued to drive a pullback in overall non-real estate agricultural lending activity, said Ty Kreitman and Cortney Cowley, economists at the Federal Reserve Bank of Kansas City in an analysis on the Bank’s website. The results come from the latest National … Read More

November Kansas Feedlot Sales Post Counter-Seasonal Decline

In a counter-seasonal move, Kansas feedlot sales of slaughter-ready cattle to beef packers in November declined from October, according to data gathered by the Kansas State University Extension Service and compiled and published by the Livestock Marketing Information Center in Denver. However, other metrics of Kansas feedlot activity in November reflected seasonal trends. The K-State … Read More

WASDE Report Cuts Meat, Poultry Production Estimates

The USDA’s World Agricultural Supply and Demand Estimates report tightened up on its estimates of 2020 and 2021 red meat and poultry production from the December report. The 2020 beef production forecast was reduced as fourth-quarter cattle slaughter slowed.  The pork production forecast was reduced as the slower pace of slaughter late in the year … Read More

Breakevens Suggest Q1 Feeding Losses: Economist

Current breakeven and fed cattle price projections suggest net first-quarter returns of a negative $75 a head, similar to current estimates of 2020 returns, said Michael Langemeier, University of Illinois at Urbana-Champaign, agricultural economist, in a study paper published by Illinois farmdocdaily. Similar studies suggest net feeding returns in the second quarter of 2021 will … Read More

Funds Cut Long Cattle Position In Latest Week

Large commodity investment funds, known as managed money, cut their collective net long live cattle futures position in the week ended Tuesday while hedgers trimmed their combined net short position, according to the weekly Commitments of Traders report from the Commodity Futures Trading Commission Friday.   FUNDS REDUCE CATTLE EXPOSURE   As of Tuesday, the … Read More

2021 Beef Export Sales, Commitments; An Analysis

The US beef industry is entering 2021 with a near-record number of cattle on feed and marketings below a year ago, indicating a large amount of meat coming to market in the first quarter to pressure prices, said Elliott Dennis, livestock Extension economist at the University of Nebraska/Lincoln, in a letter to Extension Agents. Historically, … Read More

December Farmer Sentiment Grows

Agricultural producer sentiment improved in December according to the monthly Purdue University/CME Group Ag Economy Barometer. Purdue University Agricultural Economist James Mintert, said in a release that the barometer increased seven points from November to a reading of 174.  The barometer’s sub-indices, the Index of Current Conditions and the Index of Future Expectations, also were … Read More