In the 30 years ending with the 2022/23 corn crop year 80% of the variation in the May corn winter/spring Price range was associated with the US corn carryout stocks to usage ratio and the Livestock price index as published by USDA.. We have constructed the accompanying tables with forecasts Read more…
The USDA’s November 2023 US feedlot survey reported cattlemen placed 2% fewer feeder cattle then in the same month a year ago. Finished cattle marketings in November declined 7% year over year leaving cattle on feed December 1, 2023 up 3% from the previous year. Last autumn expensive feeder cattle Read more…
USDA’ December Hog census estimated the total US herd on December 1, 2023 at 75 million head which was equal to the revised data from a year ago. The number of hogs kept for breeding was down 2% from a year earlier as was the farrowing intentions survey for the Read more…
Earlier this monthUSDA forecast live finished cattle would average $178/hundredweight in 2024 compared to $176 in 2023. USDA dropped the 2024 price forecast by $7/Cwt. between the November and December forecast based on an increase in the 2024 US beef production forecast and the break in cattle futures prices over Read more…
USDA cut the 2024 soybean production forecast due to warmer and drier weather in the Northern row crop areas. It would be unusual if USDA would reduce the production estimate again as there is a strong El Nino event underway which historically has brought favorable conditions for Brazill’s farmers. The Read more…
The December 1 US hog herd Inventory likely declined compared to a year earlier. The accompanying balance table displays estimates for the fall pig crop compared to slaughter which is by now known from daily data. The September November pig crop estimate assumes the September USDA planned sows farrowing survey Read more…
Last month USDA forecast the season 2023/2024 average price for deliverable soybean oil at $61 per hundredweight compared to $69 last season and $65 in September 2021/August 2022. The accompanying scatter studies display the winter/spring high and low for deliverable soybean oil as a function of the USDA’s November season Read more…
USDA has projected a modest increase in US pork production in 2024. An increase in US pork exports would absorb about half of the increase in projected pork production based on the USDA’s US pork supply/usage balance published in early November 2023. USDA’s 2024 pork production estimate will be refined Read more…