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AgDay Daily Recap -January 9, 2014

January 9, 2014
 
 

TODAY ON AGDAY

JANUARY 9, 2014

 

HIGH BEEF PRICES:

GOOD MORNING I'M CLINTON GRIFFITHS. LOW NATIONAL SUPPLIES, BAD WEATHER AND SOMEWHAT STEADY DEMAND HAS CATTLE PRICES SURGING TO START THE NEW YEAR.

HELPING DRIVE THOS PRICES HIGHER ARE SUPPLY CONCERNS. THE WINTER STORM AND COLD WEATHER SLOWED WEIGHT GAINS IN FEEDLOT CATTLE. ANIMAL TRANSPORTATION WAS ALSO HEAVILY IMPACTED. THAT HAS PACKERS AND FEEDLOTS PAYING HIGHER PRICES IN ORDER TO SECURE LIVESTOCK. THIS CURRENT PRICE RALLY THAT'S BEEN GOING ON SINCE MID TO LATE DECEMBER.

CORN PRICES:

TOMORROW AT NOON, THE USDA RELEASES A FLURRY OF PRODUCTION REPORTS.
THEY INCLUDE AND FINAL TALLEY OF 2013'S PRODUCTION AND AN ESTIMATE OF WINTER WHEAT ACREAGE.

CHINA SHIPMENTS:

IT'S BEEN A COLD SHOULDER FOR U.S. CORN AND CORN PRODUCTS IN CHINA. THAT COUNTRY HAS TURNED AWAY 2-THOUSAND TONES OF DDGS SINCE DECEMBER AND 600-THOUAND TONS OF US CORN. IT'S SAYS THE SHIPMENTS CONTAINED TRACES OF A GMO TRAIT NOT APPROVED IN CHINA. NOW THERE'S INDICATION THOSE SANCATIONS MAY BE RELAXING-- THIS WEEK CARGOS ARE STARTING TO FIND THEIR WAY IN...NOW 40-50 PERCENT PASSING INSPECTION. A U.S. GRAINS COUNCIL DELEGATION IS ALSO IN CHINA TRYING TO RESOLVE THE ISSUE.

CROP WATCH:

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