Learn more about preventing losses, limiting liability and conducting barn walk-throughs at the 2014 Iowa Pork Regional Conferences scheduled for late next month.
Pork producers will also hear about factors affecting operations’ financial status and get updates on a variety of health and disease issues. The Iowa Pork Industry Center (IPIC), Iowa Pork Producers Association (IPPA), and Iowa State University Extension and Outreach cosponsor this annual series at different sites around the state....More
As the end of 2013 approaches, most pork producers are glad to see a new year coming. At AgStar, we monitor a financial database, which includes a large portion of AgStar’s portfolio with producers across the country and nearly one million sows' worth of production. The data shows that the average producer will not see much in the form of positive earnings for 2013. With the drought creating high feed prices and large positive basis on corn for much of the year, it’s not hard to tell why. On top of that, there were negative basis issues early in 2013 on lean hogs and we’ve cycled back to large historical negative basis on hogs today....More
With just a few legislative working days remaining in 2013, the likelihood of a new farm bill is waning, leaving farmers in limbo once again, a Purdue Extension farm policy expert says.
The Farm Bill Conference Committee, composed of congressional representatives from the Senate and House, has been working since October but as yet has failed to agree on what should be in the bill. House Speaker John Boehner has said that his chamber will recess Friday until the new year....More
Learn about succession planning for your farm family business by attending the “Business Structure, Taxes and Valuation” workshop of Purdue Extension's Farming Together series.
The workshop, to be held at four locations across Indiana, will focus on legal and tax issues with farm transfer, long-range business planning, operating and buy-sell agreements and business valuation....More
One Ohio State University (OSU) professor argues that the fear of aging farmers staying on the land too long delaying turnover is overstated. He says the United States likely will have little problem replacing aging farmers as long as business is good, as it has been for the past decade, in an Associated Press report by David Pitt....More
Agricultural lenders indicated that 2013 credit conditions held, but they look for future conditions to soften, according to the results of the September 2013 K-State Agricultural Lender Survey. Respondents expected loan interest rates to rise, non-performing loans to increase slightly from their current low level and farmland value gains to slow and then dip in the longer term. ...More
Typically at this time of year, we would write about making financial decisions to position your operation through the fourth quarter and better hog prices, but this isn’t a typical year. The run in hog prices beginning a couple of months ago has been counter-seasonal, to say the least. Driven primarily by slaughter numbers that were significantly off the USDA estimates provided in the September Quarterly Hogs and Pigs Report, it is clear to me that demand for pork picked up at the same time, probably replacing some beef demand....More
A Purdue University grain specialist has prepared some tips for farmers to keep stored grain in top shape.
Klein Ileleji says that anytime growers decide to put corn into storage, and especially when they plan to store it for several months, they need to manage the grain properly to keep it from spoiling. That includes drying corn to a safer moisture level when it comes out of the field and then properly cleaning, loading, aerating and monitoring it....More
Another week with little or no data has all of U.S. agriculture in a pickle. The lack of data and information has not stopped the industry, as grain and livestock harvests must go on and commerce must be conducted. But the void has left those activities to operate, to a great degree, in the dark. Any wrecks that are happening may not be discovered until the light of day and renewed information availability reveal them....More
“Farmers and ranchers, along with 90% of the country, are frustrated with Congress. Aside from shutting down the government, the one-year farm bill extension Congress granted last session also expired at midnight, while the new farm bill has yet to formally reach the conference process,” says American Farm Bureau Federation President Bob Stallman ....More
On an island off the northeastern tip of Long Island, NY, U.S. Department of Agriculture (USDA) scientists are doing their part to safeguard the U.S. food supply, according to a report by USDA’s Agricultural Research Service....More
As September dawns, it behooves us I think to consider the factors that will likely have major impacts on fall hog markets. Those, of course, all fit one way or another into the economist’s pat answer of “Supply and demand,” but some details will probably be far more illuminating and, hopefully, satisfying....More
I feel a bit that way today as I watch the corn and soybean markets explode upward. “Well, I told you it was dry!” Dryness, of course, is not the only driver of the increases, so far, of 60-cents per bushel for soybean futures, 25-cents per bushel on corn and $15 per ton on soybean meal....More
We regularly talk to our clients about understanding costs and managing risk in order to be ready when opportunity knocks. With margins for hog producers above the 90th percentile many times, and approaching historical levels for some time periods, opportunities over the past six weeks and looking ahead to the next 12 months are phenomenal....More
Just what can we say about the impact of porcine epidemic diarrhea (PED) virus on summer pig numbers and, by extension, winter hog slaughter? That question is floating through markets these days with no clear answers available. Somehow, “A whole lot!” just doesn’t seem to suffice as an answer to the question of how many pigs have been lost. And I fear the numbers I have produced in recent weeks are little, if any, better....More
Total pork inventories as of June 30 were 4.7% lower than last year but remained just over 8% larger than the average of the past five years. That was a major feature of last week’s Cold Storage report. Pork stocks normally fall in June as hog numbers decline but this year’s June drawdown was extraordinary. In fact, it was the largest June decline in frozen pork stocks in 20 years....More
I just returned from my annual pilgrimage to the Wisconsin Dells for the National Pork Industry Conference (NPIC). Again this year the conference was very well attended, with more than 750 producers from across the United States. This diverse crowd gives me the opportunity to get a pretty accurate crop report from individuals driving to the event from all directions. The overwhelming sentiment? The corn crop looks good with some parts of the United States even starting to become a bit dry....More
Registration is now open for the Carthage (IL) Veterinary Service Ltd 23rd Annual Swine Conference to be held on Aug. 27, 2013on the scenic campus of Western Illinois University in Macomb, IL.
This conference is known for providing quick-fire sessions with cutting-edge information that pork producers can implement the day after the conference....More
The American Farm Bureau Federation (AFBF) supports legislation introduced today in both the House and Senate that would permanently repeal the estate tax. Sen. John Thune’s (R-SD.) bill, The Death Tax Repeal Act of 2013, coupled with bipartisan legislation of the same title introduced by Reps. Kevin Brady (R-TX) and Mike McIntyre (D-NC), is welcomed by America’s farm and ranch families....More