USDA’s Quarterly Grain Stocks Report put the 2020/2021 US soybean carryout at 256 million bushels, up from the September WAOB estimate of 175 million bushels. We have also calculated a what if new crop 2021/2022 US soybean balance balance assuming a drop in the 2021 US soybean yield estimate to Read more…
USDA reported the 2021 (old crop) US corn carryout at 1236 million bushels compared to the September WAOB estimate of 1187 million bushels. Our end of season US corn yield forecast based on the weekly crop condition survey was 176 bushels per harvested acre which is the same as USDA Read more…
The August Cattle on Feed report suggests a one percent increase in fed cattle marketings over the next six months to a record 11 million head. Plentiful fed beef supplies will be one factor holding cattle futures prices in check this Autumn.
The supply of market hogs available for slaughter this autumn and winter will drop 3% to 4% based on the September Hogs and Pigs report released on 9/24/2021. Our October March slaughter estimate also assumes a 5% increase in live hog imports.
In the September WAOB report the USDA forecast 4th quarter finished steers (Nebraska) would average $131/hundredweight compared the current October futures quote near $122 and December futures of $127. The accompanying scatter study displays the October/December average price for finished steers as a function of domestic per capita beef supply Read more…
The number of hogs and pigs on US farms September 1 may have equaled the inventory a year ago despite a smaller summer pig crop. A sharp drop in slaughter last quarter and a surge in imports likely kept hog numbers close to that of a year ago. The 2021 Read more…
In the September WAOB report the USDA projected the 2021/2022 US corn carryout at 1.4 billion bushels or 10% of crop year usage of 14.8 billion bushels.The accompanying scatter studies display the harvest high and low for central Illinois corn as a function of the USDA’s Autumn forecast for the Read more…