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
One year ago, it appeared that packing capacity would become a real issue in the fall of 2013. The concern was well-founded, as producers were expanding the breeding herd by roughly 1% and average litter size was growing at a rate of about 2% per year. The combination suggested that U.S. hog slaughter could grow by more than 3%, year on year, by late 2013. With hog slaughter already headed toward a new quarterly record of 30.433 million head in fourth-quarter 2013, the prospect of pushing 3% more hogs through the current packing sector looked daunting.
Then the worst drought in 50 years came knocking. Plans to grow the breeding herd and improve litter size slowed. Slaughter levels in fourth-quarter 2013 will likely be lower than last year. But questions about packer capacity loom....More
Attuned to the times, this year’s 6th annual Pork Lenders meeting, designed specifically for members of the banking community, will provide up-to-date financial, market, export and legislative information. This year’s conference will also offer more information about a farm-level risk management tool the Minnesota Pork Producers Association has developed....More
Some 33 pork industry owners and managers from 10 states and Canada completed certificates in business management in May through the Executive Pork Producers Program, offered by the University of Illinois’ College of Veterinary Medicine in Urbana. ...More
The Clay County Circuit Court of Louisville, IL, has issued an opinion on insurance coverage that has a significant impact upon agriculture and insurance policyholders in Illinois. In a recent decision, Judge Daniel E. Hartigan ruled that Country Mutual Insurance Company wrongfully refused to defend its longtime insured, Bible Pork, Inc. in the nuisance case of Pierson, et al. v. Bible Pork, Inc., (2008-MR-14), under two Country Mutual policies, the AgriPlus comprehensive general liability policy and an umbrella policy....More
Agriculture Secretary Tom Vilsack today announced a package of disaster assistance valued at $209 million to help farmers, land owners and communities recover from the effects of Superstorm Sandy. Funding is provided by the U.S. Department of Agriculture's (USDA) Emergency Conservation Program (ECP), Emergency Forest Restoration Program (EFRP) and Emergency Watershed Protection Program (EWP)....More
Low interest rates and record income per acre have driven farmland values much higher over the last decade. The increase has led to concerns of a repeat of the farm crisis of the 1980s. “Back in the 1970s, we got way above trend growth, and it looks like that is what is happening again,” says University of Missouri Extension agricultural economist Ron Plain. “Last year, we were more than $500 per acre above trend for the average acre of Missouri farmland.”...More
Increased pork exports resulting from a Trans-Pacific Partnership (TPP) agreement would create more than 20,000 direct and indirect U.S. pork-related jobs, with the vast majority generated by Japan alone, theNational Pork Producers Council (NPPC) said at a press conference held today....More
In comments filed this week, the National Pork Producers Council (NPPC) expressed concern that Canada and Mexico could retaliate against the United States because proposed regulations by the U.S. Department of Agriculture may not make a meat labeling law compliant with U.S. international trade obligations.
The World Trade Organization (WTO) last year ruled that the U.S. country-of-origin labeling (COOL) law violates U.S. trade obligations under the WTO Agreement on Technical Barriers to Trade. Canada and Mexico brought cases on COOL to the WTO in 2011....More
In issuing its latest forecasts for beef and pork production for the remainder of 2013, Daily Livestock Report or DLR (www.dailylivestockreport.com) reported that the U. S. Department of Agriculture (USDA) predicts commercial U.S. beef production will be down 0.9% to 24.976 billion pounds, reflecting a notable reduction in cattle slaughter especially in the second half of the year....More
Starting April 4, for those tracking the U.S. pork industry, USDA’s Foreign Agriculture Service (FAS) has implemented weekly export sales reporting for the first time.
According to U.S. Meat Export Federation (USMEF) economist Erin Borror, weekly export sales reporting has applied for many years to beef, wheat, barley, corn, grain sorghum, oats, rye, soybeans, soybean meal and oil, flaxseed, linseed oil, sunflowerseed oil and cottonseed products....More
Get ready to learn the importance of – and how to – merge technology and values to help feed a growing and hungry world during the National Institute for Animal Agriculture’s (NIAA) 2013 Annual Conference in Louisville, KY, April 15-18, at The Galt House.
Five keynote speakers will provide facts and insight to this emotionally charged issue during NIAA’s opening and closing general sessions:...More
The U.S. Department of Agriculture’s Economic Research Service has released its quarterly Outlook for U.S. Agricultural Trade. Fiscal 2013 agricultural exports are forecast at a record $142 billion, down $3.0 billion from the November forecast, but $6.2 billion above final fiscal 2012 exports.
The forecast for livestock, poultry and dairy is up $300 million, with greater beef and poultry exports expected to outweigh lower pork shipments....More