As northwest Tennessee farmer says he’s looking ahead to the 2025 growing season and margins are a big concern. David Nichols tells Brownfield, “Prices sold off pretty hard and we’re down close to or below cost reduction.” At the same time, he says costs are still too high. “Fertilizers have come down some; some of…… Continue Reading
Cattle futures up ahead of On Feed report
At the Chicago Mercantile Exchange, live and feeder cattle were up watching direct business develop and ahead of Friday’s Cattle on Feed numbers from the USDA. December live cattle closed $1.37 higher at $189.25 and February lives closed $1.32 higher at $189.95. November feeders closed $1.30 higher at $248.52 and January feeders closed $1.70 higher…… Continue Reading
A soybean harvest reflection
A farmer in west-central Missouri says it was a faster harvest than usual. “We’ve never had a stoppage during soybean harvest, which I think was the first for my career. Dry was the norm.” Garrett Riekhof tells Brownfield he wrapped up soybean harvest mid-October and it was better than expected with yields ranging from the…… Continue Reading
Dry conditions affect fall fieldwork
A farmer in eastern South Dakota says dry conditions are affecting fall fieldwork. Paul Casper from Kingsbury County just wrapped up harvest on Wednesday and tells Brownfield “there’s a lot of fieldwork not done. It will be interesting to see how that plays out next spring. There’s a lot more people going minimum or no-till…… Continue Reading
Market extremes for farmland in 2024
The farmland market has seen some extremes this year in the Upper Midwest. Farm business management instructor Kristina McVicker with South Central College in Mankato, Minnesota calls 2024 “interesting” from an ag land values perspective. “I’ve heard rumblings of land auctions with no sales, and then I’ve seen parcels still go for as high as…… Continue Reading
Closing Grain and Livestock Futures: October 24, 2024
Dec. corn closed at $4.21 and 1/2, up 2 and 1/2 centsNov. soybeans closed at $9.96 and 1/4, down 1 and 1/4 centsDec. soybean meal closed at $310.40, down $4.60Dec. soybean oil closed at 44.33, up 94 pointsDec. wheat closed at $5.81 and 1/2, up 3 centsDec. live cattle closed at $189.25, up $1.37Nov. feeder…… Continue Reading
Consider trade impacts of the upcoming election
An ag economist says there could be significant shifts in trade policy following the November election. Chad Hart with Iowa State University says both the Republican and Democratic presidential candidates seem to be comfortable with tariffs. The Trump administration has campaigned on expanding tariffs, which Hart says could possibly create another trade war. “The last…… Continue Reading
Corn manages to hold onto modest gains
Soybeans were mostly modestly higher, with nearby months pulled steady to lower late by spread trade. Export sales were up sharply on the week at 79.1 million bushels as China and Mexico led the way, with unknown destinations buying another 198,000 tons of 2024/25 Thursday morning. U.S. harvest conditions are favorable and while planting has…… Continue Reading
September poultry production slightly higher
U.S. poultry production was slightly higher in September. The USDA says 4.361 billion pounds of poultry were certified wholesome last month, less than August, but 1% more than September 2023. That included 3.937 billion pounds of chicken, 2% higher, and 413.379 million pounds of turkey, 4% lower, as producers respond to differing demand expectations. The…… Continue Reading
September red meat production up 1% on year
4.451 billion pounds of red meat were produced in the U.S. during September 2024. The USDA says that was 2% more than the September 2023 total, which was hit hard by a combination of slower slaughter paces and lighter weights. This year, beef production was 3% higher at 2.205 billion pounds with heavier weights canceling…… Continue Reading
