We estimate the September 1 US hog inventory at 72.8 million head, down 2% from the census at the same time last year. Our estimate assumes the USDA’s summer sows farrowing projection published in June 2023 and a trend projection for the number of pigs saved per litter. Read more…
Slack export demand has weighed on US wheat futures prices this summer. In the period 6/1/2023 through 8/10/2023 US wheat export sales totaled just 7 million tonnes compared to the average 10 million tonnes in the same period in the previous ten years. However, USDA data suggest the US wheat Read more…
USDA has projected the average price for steers, finished and basis Nebraska, at $186 per hundredweight in 2024 compared to the previous record $155 established in 2014. Another sharp reduction in US beef supply in 2024 forms the base for the USDA’s live steer price forecast. US beef supply is Read more…
The USDA’s first crop survey of the season resulted in a 2+ bushel reduction in the National corn average yield. In the 1965-2022 period the August yield estimate had a 96% correlation with the final (January) estimate with a standard error of six bushels per harvested acre. USDA reduced the Read more…
USDA dropped the US soybean national average yield to 50 bushels per harvested acre compared the trendline July forecast of 52 bushels. The yield downgrade was in line with sub average weekly USDA crop reports. In the years 1965 through 2022 the August yield estimate has had a 94% correlation Read more…
Pasture & range conditions have improved significantly over a year ago, but are only average compared ratings in the last 10 years. At any rate ranchers will not be forced to move calves or yearlings into feedlots this Autumn for lack of pasture. Improved pastures support feeder cattle prices and Read more…
USDA crop observers rated 52% of the US soybean crop in good or excellent condition on July 30, 2023 which is down from the 52% with the same rating a week earlier. Historical data suggests an August estimate for the US national average soybean yield of 49 bushels/harvested acre compared Read more…