Publications

September 17, 2018

September 17 Weekly Update

9/17 - In last week’s WASDE, the USDA raised 2018/19 corn yield to a record-high 181.3 bushels per acre and pushed production to 14.83B bushels, resulting in (potentially) the 2nd largest crop on record. The USDA has cut its 2018/19 corn price forecast from to $3.80 to $3.50 per bushel

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August 27, 2018

August 27 Weekly Update

8/27 – In Friday’s Cattle on Feed Report, the USDA said new placements onto feedlots in July were up 7.9%, and that the Aug 1 feedlot inventory at 11.09M head was 4.6% above a year-ago and the highest Aug 1st inventory on record. Beef supplies are up, but not nearly

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August 13, 2018

August 13 Weekly Update

In Friday’s WASDE report, the USDA estimated yield for this year’s corn crop at a record high 178.4 bushels per acre. The USDA raised its forecast for corn supplies, corn usage and corn exports. But the net effect is that 2018/19 corn ending stocks were revised 8.5% higher to 1.68B

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August 6, 2018

August 6 Weekly Update

So far, it’s been a summer of cheap meat. Most July prices were significantly below a year ago, helped out by July corn prices that averaged 7.7% lower than last year. July chicken prices (compared to year ago) were all down: -23% for bnls sknls breast; -34% for wings; -23%

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July 23, 2018

July 23 Weekly Update

7/20 – In Friday’s Cattle on Feed Report, the USDA said new placements onto feedlots in June were up 1.3%, and that the July 1 feedlot inventory at 11.3M head was 4.1% above a year-ago and the highest July inventory on record. Beef supplies are up, but not nearly as

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July 16, 2018

July 16 Weekly Update

7/16 - In last week’s WASDE report, the USDA reduced soybean exports by 250M bushels, or 12%, reflecting the projected impact of China’s retaliatory import duties that took effect on July 6. The Chinese bought $14 billion of U.S. soybeans in 2017. Soybean futures prices have plunged by 22%, from

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July 9, 2018

July 9 Weekly Update

7/9 - Class III milk futures, which finished the month of May at $15.47/cwt, plunged in June and closed at $14.20 on Friday. Why? Mostly due to fears that tariffs will not only halt dairy exports to our top customer (Mexico) and ruin margins for dairy producers, but also that

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July 2, 2018

July 2 Weekly Update

7/2 – In Friday’s quarterly Hogs && Pigs report, the USDA confirmed that there is a mountain of pork in the pipeline. Total U.S. inventories on June 1, at 73.5M head, are up 3.4% from a year ago and the highest June 1 inventory since estimates began in 1964. Breeding

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June 26, 2018

June 25 Weekly Update

6/25 – In Friday’s Cattle on Feed Report, the USDA said new placements onto feedlots in May were very close to year-ago levels, but that feedlots inventories at 11.56M head were 4.1% higher than last year and the highest on record for the month of June. Beef supplies are up,

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June 18, 2018

June 18 Weekly Update

6/18 - In last week’s WASDE report, the USDA reduced 2017/2018 corn ending stocks to a 4-year low of 1.57B bushels, mostly due to a higher export forecast. This year’s U.S. corn crop looks good so far. Corn emergence is 94% complete and corn condition ratings are 77% good-to-excellent compared

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