The weekly US Drought Monitor Thursday showed continued improvement in drought-related conditions across areas of the Midwest (Michigan, Ohio, Indiana, Illinois, Iowa, Minnesota), central and northern Plains (Kansas, Nebraska, Dakotas, eastern Montana), South (Texas), and in the Desert Southwest (New Mexico).
That left the western states as the area most affected by drought and the Corn and Soybean Belt virtually free and almost normal.
SIGNIFICANT RAIN IN THE MIDDLE
During the past week, the most significant rainfall accumulations were observed across areas of Kansas, Missouri, Iowa and Minnesota, where they ranged from three to seven or more inches
. Elsewhere, short-term precipitation shortfalls (past 30 to 60 days) led to continued expansion of abnormally dry areas across the Southeast states including the Carolinas, Georgia and Alabama as well as the introduction of isolated areas of moderate drought in Alabama, Georgia and South Carolina where agriculture-related drought effects were reported.
In the South, drought conditions continued to improve in western portions of Texas as well as in areas of eastern New Mexico where monsoonal storms provided minor relief to areas experiencing long-term drought. In the West, conditions continued to deteriorate across the Pacific Northwest (Oregon, Washington and Idaho) and areas of the Intermountain West (Wyoming, Utah and Colorado), while areas of eastern Montana saw improvement in drought in response to precipitation during the past few weeks.
WESTERN RESERVOIR STORAGE UP
In terms of reservoir storage in the West, California’s major reservoirs continued to be at or above historical averages for July 29, with the state’s two largest reservoirs, Lake Shasta and Lake Oroville, at 105% and 116% of average, respectively.
In the Southwest, the US Bureau of Reclamation reported Sunday that Lake Powell was 32% full (46% of average), Lake Mead was 31% full (51% of average), and the total Colorado system at 39% of capacity, compared with 44% of capacity the same time last year.
HIGH PLAINS
Soil moisture improvements continued from Kansas to North Dakota after another week of scattered shower activity with light-to-moderate accumulations. During the past 30 days, drought-related conditions improved significantly in northern Kansas, eastern Nebraska, southeastern and southwestern South Dakota and southwestern North Dakota as evidenced in a variety of drought monitoring observations including stream-flows, soil moisture and vegetation health indicators.
However, conditions degraded in other parts of the region, including central South Dakota and northern North Dakota.
For the week, average temperatures generally were above-normal average by one to six degrees Fahrenheit across the region, with eastern portions experiencing the largest departure, while far western portions of the Dakotas reported temperatures one to four degrees Fahrenheit below normal.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $233.00 per cwt to $241.92, compared with last week’s range of $230.88 to $241.92 per cwt. FOB dressed steers and heifers went for $365.34 per cwt to $375.00, compared with $361.69 to $379.55.
The USDA choice cutout Thursday was down $0.67 per cwt at $361.32 while select was up $0.46 at $341.37. The choice/select spread narrowed to $19.95 from $21.08 with 81 loads of fabricated product and 28 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef was $417.19 per cwt, and 50% beef was $177.47.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.45 to $1.60 a bushel over the Sep corn contract, which settled at $3.94, up $0.02 1/4.
The CME Feeder Cattle Index for the seven days ended Wednesday was $335.01 per cwt, up $1.98. This compares with Thursday’s Aug contract settlement of $331.37, down $7.57.