Prospects for farm income and agricultural credit conditions rebounded sharply in the fourth quarter of 2020, after a survey of farm lenders. The average price of corn, soybeans and wheat increased more than 20% from the previous quarter, and reached six-year highs in December. Livestock prices, while still less than a year ago, also improved … Read More
FAS: China Feed Demand Shifting To Wheat, Rice
The USDA’s Foreign Agricultural Service, Global Market Analysis report Tuesday said that with record corn imports forecast this month at 24.0 million tonnes for 2020/21, China’s demand for feedstuffs continues to rise as its swine herd recovers from African Swine Fever. HIGH CORN PRICES SUPPORT SUBSTITUTION High corn prices are supporting record feed … Read More
USDA Ups Red Meat, Poultry Production Estimate
The USDA Tuesday raised its estimate of 2020 red meat and poultry production from the January report and raised its estimate of 2021 production. The new estimates came in the USDA’s monthly World Agricultural Supply and Demand Estimates report and showed lowered production estimates only for 2020 beef. All other meat types showed increases in … Read More
2020 Beef, Pork Exports “Outstanding,” Halstrom
2020 US beef and pork exports were “outstanding,” in the words of the US Meat Export Federation, with pork shattering previous records. The conclusions came after the USDA released the December and 2020 export data, and the USMEF compiled them. USMEF President Dan Halstrom credited a buying surge from China for the record performance in … Read More
Funds, Hedgers Expand Live Cattle Positions
Large commodity investment funds, known as managed money, and hedge traders took their respective net long and net short live cattle futures positions to their largest points in more than a year during the week ended Tuesday. The data came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday, which summarized position … Read More
Cash Cattle Price Forecasts Murky
Cash cattle prices may be up this week as cash and futures try to converge, but then things become a little murkier. Cash markets got a boost this week as the Feb contract moved higher. Traders with long positions as of the close of business Monday risk being delivered on, yet demand pushed them higher. … Read More
Pork Cutout Ready To Turn Lower?
While the weekly USDA pork cutout value last week was up from the previous week, the same week last year and the 2015-2019 average, it may be turning lower this week, right on schedule. The data came from the USDA’s Agricultural Marketing Service. It was compiled into graphs and published by the Livestock Marketing Information … Read More