The USDA’s Office of the Chief Economist Friday reduced its estimate of 2019 total red meat and poultry production to 50.203 billion pounds from 50.246 billion last month as lower forecasts for pork and turkey production more than offset predictions of higher beef production. The forecasts came in the USDA’s monthly World Agricultural Supply and … Read More

An early look at crop budgets for 2020 indicates a shift back toward greater corn production is likely, suggesting acreage could be pushed back above 90 million, said Purdue University agricultural economist James Mintert and Purdue associate professor Mindy Mallory in a 2020 outlook. Combined with a possible return to trend-line yields this year, that … Read More

US pork exports posted the largest month on record in November, easily reaching new highs in volume and value, while the month’s beef exports were below November 2018 totals, according to data released by the USDA and compiled by the US Meat Export Federation.   PORK EXPORTS SURGE   Pork exports surged to 259,812 tonnes … Read More

US farmers are optimistic about the future, even though their perception of current economic conditions is down, according to a monthly survey of farmer perceptions by Purdue University. As a result of that dichotomy of views, the Ag Economy Barometer essentially drifted sideways in December to a reading of 150, compared with 153 in November.  … Read More

Large commodity investment funds, known as managed money, cut their net long commitment to live cattle futures during the week ended Tuesday, according to data from the Commodity Futures Trading Commission. The CFTC’s Commitments of Traders report normally is released on Fridays but was delayed to Monday by last week’s New Year’s Day holiday. The … Read More

A university agricultural economist is calling for pre-planting guidelines from the USDA that would allow farmers to understand their protection from trade-related losses. Roman Keeney, associate professor of agricultural economics at Purdue University, said in a 2020 outlook that the continued uncertainty around the negotiations and the level of needed trade adjustments required argued strongly … Read More

A well-known university agricultural economist is telling cattle producers to take stock of their business status and look forward to 2020. Derrell Peel, from Oklahoma State University, said in a letter to Extension Agents that whether 2019 was good, just okay or disappointing, there is value in taking some time to analyze the reasons for … Read More