USFR Weekly Recap - November 24-25, 2012

November 24, 2012

By: AgDay TV

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2050

NOVEMBER 24-25, 2012

JOHN’S OPEN:

Hello and welcome to U.S. Farm Report, I’m Al Pell, in for John Phipps. John recently visited North Dakota where he talked with farmers about the oil boom in that state. It's obvious how "Texas tea" has impacted communities - both positively and negatively. John will share his thoughts later in the show. Time now for the headlines.....here's Tyne Morgan.

HEADLINES:

Severe dryness continues in the plains states. That has livestock producers worried about feed and pastures supplies during the coming winter and early spring. Meanwhile in the feedlot, the sterling beef profit tracker shows cattle feeding margins continue to decline. The most recent numbers put average feedyard losses at a whopping $93 per head. It also shows packer margins improved, but harvesters are losing about $83 per head. Pork producers tightened their belt to weather the financial storm this fall. And it’s good news as losses haven't been as deep as originally forecast this fourth quarter. Purdue University economist Chris Hurt expects profitability to return earlier than anticipated. He is forecasting first quarter 2013 losses near $15 per head, but by the second and third quarters, pork producers could finally be in the green . He projects profitability in the $10 per head range. Many turkey producers also saw tight margins this year due to high feed costs.

CROP WATCH:

Crop watch this week...