The USDA Thursday raised its 2019 red meat and poultry production forecast to 104.517 billion pounds from 104.167 billion last month as higher expected pork and broiler production more than offsets lower beef and turkey production forecasts.  This was a gain of 35 million, or 0.33%. The new predictions came in the monthly World Agricultural … Read More

Ideas that cattle markets have put in an annual bottom may be premature as rising red meat and poultry production keep upping the ante for market share, but maybe not. Fundamental market forces are adding some support to cattle prices, and there is historical precedent for prices to hit a bottom at this time of … Read More

The Livestock Marketing Information Center expects total US red meat and poultry production to continue rising this year, although expected declines in poultry production could limit 2020 gains. LMIC economists took USDA National Agricultural Statistics Service data and extrapolated it to give a quarterly outlook through next year.  Their outlook says beef and pork production … Read More

May exports of US pork and beef were steady with last year’s strong volumes and increased year-over-year in value, putting the volume and value for both at 2019 highs, according to data released by USDA and compiled by the US Meat Export Federation.   BEEF EXPORTS NEAR STEADY WITH 2018   May beef exports were … Read More

Corn prices have increased since mid-May, and Michael Langemeier, agricultural economist at the University of Illinois, expected them to remain quite volatile for the rest of the year. In the Illinois Farmdoc, Langemeier examined the effect of higher corn prices on feeding cost of gain for cattle finishing.  As a rule-of-thumb, each $0.10 increase in … Read More

Strength of Nebraska’s labor market has been underscored by high levels of engagement in the workforce across all age groups, said a report from the Federal Reserve Bank of Kansas City. Nebraska long has been known as a state with low unemployment, the report said.  Older and younger generations are more active in the labor … Read More

Ag producer sentiment rebounded in June as farmers expressed a more optimistic outlook about the future of the ag economy, said a Purdue University/CME Group release. The Ag Economy Barometer, a joint effort of Purdue and the CME Group, increased to a reading of 126 in June, up 25 points from May.  This was based … Read More