Jul 23, 2014
Home | Tools| Events| Blogs| Discussions Sign UpLogin

USFR Weekly Recap - April 6-7, 2013

April 6, 2013

                                                                                                                                                                                             

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2069

APRIL 6-7, 2013   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. I KNOW I'M GETTING FORGETFUL IN MY DOTAGE, BUT DIDN'T MY CORN INVENTORY USED TO BE WORTH A WHOLE LOT MORE? THE USDA REPORT SHOWING A FEW HUNDRED MILLION UNEXPECTED BUSHELS AND THE SUBSEQUENT FREEFALL IN CORN PRICES DROPPED JAWS AND ATTITUDES SIMULTANEOUSLY. BUT AS I SPOKE TO A GROUP OF NEW YORK DAIRY FARMERS THEY WERE STRANGELY UPBEAT. I THOUGHT IT WAS BECAUSE SYRACUSE DOMINATED INDIANA IN THE NCAA, BUT JUST MAYBE FEED BUYERS ARE HAVING A VERY GOOD WEEK. CORN FARMERS WILL SURVIVE THIS PRICE DROP, AND JUST MAYBE OUR BEST CUSTOMERS WILL BECOME A LITTLE MORE OPTIMISTIC. THAT WORKS TOO.

HEADLINES:

CORN PRICES PLUMMETED THIS WEEK AS THE MARKETS TRIED TO ADJUST TO THE LATEST USDA PROSPECTIVE PLANTINGS AND GRAIN STOCKS REPORT. THE REPORT SHOWED STOCKPILES ARE LARGER THAN ESTIMATED AND CORN ACREAGE COULD BE THE HIGHEST SINCE 1936. FICKE SAYS HE'S BEEN FORTUNATE TO HAVE FEED AVIALABLE WITH 30 MILES OF HIS OPERATION. BUT HE SAYS YOU HEAD FARTHER WEST, THE FEED AND CATTLE DISSAPEAR. HIS CATTLE COLLEAGUES IN WESTERN NEBRASKA HAVE BEEN FORCED TO LIQUIDATE. THE LATEST REPORT SHOWED THE NATION'S CATTLE HERD HAS DWINDLED TO THE SMALLEST IN 61 YEARS. THE LATEST DROUGHT MONITOR CONTINUES TO PAINT A DREARY PICTURE IN CATTLE COUNTRY, WITH RED BLEEDING AS FAR NORHT AS SOUTH DAKOTA DOWN TO TEXAS.  AREAS OF THE SOUTHERN PLAINS WELCOMED A STORM FRONT THIS WEEK THAT DROPPED A COUPLE INCHES OF RAIN. OKLAHOMA STATE UNIVERSITY LIVESTOCK SPECIALIST DERRELL PEEL SAYS WEATHER OVER THE NEXT TWO MONTHS WILL DETERMINE FORAGE GROWTH FOR THE ENTIRE YEAR. MEANWHILE, THE DEPARTMENT OF JUSTICE HAS DECIDED TO ALLOW J-B-S TO ACQUIRE TWO U-S BASED X-L FOUR STAR BEEF PLANTS. J-B-S IS HEADQUARTED IN BRAZIL. THE TWO PLANTS ARE LOCATED IN OMAHA, NEBRASKA AND NAMPA, IDAHO. IN DECEMBER THE NATIONAL FARMERS UNION, ALONG WITH 40 OTHER AG ORGANIZATIONS, SENT A LETTER TO THE D-O-J ASKING THE DEPARTMENT TO EXTEND ITS INVESTIGATION OF THE ACQUISITION. THEY FEAR REDUCED COMPETITION WILL HARM CATTLE PRODUCERS AND CONSUMERS.

CROP WATCH:

CROP WATCH THIS WEEK.

READ MORE
Previous 1 2 3 Next

See Comments

RELATED TOPICS: USFR Recap

 

MARKETS

CROPSLIVESTOCKFINANCEENERGYMETALS
Market Data provided by Barchart.com
Enter Zip Code below to view live local results:
bayer
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions