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AgDay Daily Recap -December 26, 2013

December 26, 2013
 
 

TODAY ON AGDAY

DECEMBER 26, 2013

 

SOY TRADE AND TRANS:

GOOD MORNING I'M CLINTON GRIFFITHS. I HOPE YOU HAD A NICE CHRISTMAS. SOYBEANS HAVE BEEN THE BRIGHT SPOT OF THE U-S GRAIN MARKETS THIS MARKETING YEAR. CAN THEY SUSTAIN THAT SUCCESS IN 2014?

CATTLE ON FEED:

TOPPING OUR "BEEF TODAY" REPORT - THE NUMBER OF CATTLE AND CALVES ON FEED CAME IN AT 10 POINT 7 MILLION HEAD. THAT'S DOWN 5 PERCENT FROM LAST DECEMBER...MAKING IT THE SECOND LOWEST FOR THAT MONTH SINCE THE USDA STARTED KEEPING TRACK BACK IN 1996. MARKETINGS WERE ALSO DOWN 5 PERCENT WHILE PLACEMENTS WERE OFF THREE.

RABOBANK BEEF:

HEADING INTO THE NEW YEAR, IT APPEARS GLOBAL BEEF SUPPLIES WILL REMAIN TIGHT - AT LEAST FOR THE FIRST SIX MONTHS OF 2014. AND ATTENTION FOCUSES ON CHINA. RABO-BANK ANALYSTS SAY BEEF SUPPLIES WILL BE TIGHT. INCREASING DEMAND FOR BEEF IMPORTS TO CHINA WILL BE SUPPORTIVE OF STRONG PRICES.  MEANWHILE, LOWER FEED COSTS AND INDUCED HERD BUILDING WILL RESULT IN ONLY SLIGHT INCREASES IN THE GLOBAL BEEF SUPPLY. RABOBANK IS EXPECTING CHINA'S IMPORTS OF BOTH FROZEN AND CHILLED BEEF ARE EXPECTED TO GROW FURTHER, DRIVEN BY THE SHORTAGE OF BEEF IN THE DOMESTIC MARKET.

CROP WATCH:

LET'S GET A GLIMPSE OF YOUR FARM COUNTRY WEATHER ON THIS THURSDAY MORNING. HERE'S MIKE HOFFMAN FROM THE AGDAY WEATHER-CENTER, MIKE.

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