In a February survey of US farmers, Purdue University found that about 50% of farmers had either no plans to grow (33%) or plans to exit or retire (16%). The results were from a monthly survey of farmer sentiment to watch for changes, and while the survey results were reported earlier, Purdue Agricultural Economists Michael … Read More

USDA expectations for larger crops places the forecast for 2023/24 US feed grain production at 402 million tonnes, up from 358 million in 2022/23.  This leaves more for domestic feed needs. In its Feed Outlook for May, the USDA said total supply of feed grains was projected at 443 million tonnes in 2023/24, which outpaces … Read More

At its May 3 meeting, the Federal Open Market Committee raised the Federal Funds rate by another 25 basis points, making the target Federal Funds rate range from 5% to 5.25%. Brady Brewer, of Purdue University’s Center for Commercial Agriculture, said in a report that the FOMC has consistently increased the Federal Funds Rate for … Read More

Large commodity index funds, called managed money, sold live cattle futures in the week ended last Tuesday, May 9, while hedgers covered short positions. That was according to data published by the Commodity Futures Trading Commission in its weekly Commitments of Traders report Friday.   FUNDS LESS LONG CATTLE FUTURES   As of last Tuesday, … Read More

Total US red meat and poultry production for 2024 was forecast by the USDA to be 1% less than 2023, as lower beef and fractionally lower pork production offset higher poultry production. Total red meat and poultry production forecasts for 2023 were raised from last month.  Higher 2023 beef, pork and broiler production estimates more … Read More

Hog market reaction was swift Thursday following the US Supreme Court’s decision to uphold California’s Proposition 12, which dictates that all fresh pork sold within the state come from sows that were given 24 square feet of floor space. Producer groups said the cost of pork to the consumer would rise sharply because of this … Read More

Kansas feedlot closeouts declined in March in a slightly counter-seasonal move, dipping below the 2017-2021 average but staying above those of March 2022, according to statistics gathered by the Kansas State University Extension service and compiled by the Livestock Marketing Information Center in Denver. The data is collected from feedlots around the state, selected for … Read More