Less cheese in cold storage

USDA says there’s less cheese in cold storage. Natural cheese stocks as of June 30th were down 1% from May and 6% below June of 2023.  American style cheeses in storage totaled 804.8 million pounds on June 30th compared to 853.4 million pounds in 2023.  Swiss style cheese totaled 21.9 million pounds at the end…Continue Reading

Soybeans, corn end session higher on weather concerns

Soybeans were higher on short covering and technical buying. Medium-range forecasts continue to look hot and dry for most of the region, potentially stressing beans, especially if the conditions persist into mid-August, as expected. August is generally the critical month for U.S. soybean development. Unknown destinations bought 264,000 tons of new crop U.S. beans, the…Continue Reading

Whitmer veto’s E-15 tax incentive

Michigan’s Governor Gretchen Whitmer has vetoed incentives in the state’s budget to expand E-15 adoption. Executive director of the Michigan Corn Growers Association Jim Zook tells Brownfield farmers are extremely disappointed. “This was minor help compared to the EV’s,” he says. “It sure is a slap in the face of the farmer when we need…Continue Reading

June poultry production down on year

4.182 billion pounds of poultry were certified wholesome in June 2024. The USDA says that was 7% less than June 2023, including 3.764 billion pounds of chicken, 6% lower than the previous year, and 408.781 million pounds of turkey, a decline of 17%. Those year over year decreases for chicken and turkey production followed lower…Continue Reading

Red meat production dips during June

Commercial U.S. red meat production was down 6% from June 2023 to June 2024. The USDA says that year-to-year decline in production to 4.268 billion pounds was with a 9% drop in beef and a 4% decrease for pork as slower slaughter paces more than canceled out higher average live weights. Beef totaled 2.136 billion…Continue Reading

Red meat, poultry stocks tighten

U.S. red meat and poultry stocks in cold storage declined during June. The USDA says the red meat total of 905.59 million pounds was 2% lower than last year, with beef down slightly and pork falling 3%. That’s in comparison to larger year-to-year decreases in beef and pork production, implying at least some slowdown in…Continue Reading

Closing Grain and Livestock Futures: July 25, 2024

Sep. corn closed at $4.06, up 2 and 1/4 centsAug. soybeans closed at $11.16, up 5 centsAug. soybean meal closed at $352.40, up $9.00Aug. soybean oil closed at 45.81, down 21 pointsSep. wheat closed at $5.37 and 3/4, down 9 and 1/4 centsAug. live cattle closed at $188.90, up $2.00Aug. feeder cattle closed at $258.62,…Continue Reading

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