The largest collaboration between Walmart and U.S. Meat Export Federation (USMEF) in Central America to date recently concluded in four countries in the region. Walmart in Costa Rica, Guatemala, El Salvador and Nicaragua worked with USMEF on a six-week “Ten New U.
And up we go (again)! Packers took the steer by the proverbial horns last week in the cash markets. They were apparently undaunted by their $100-perhead losses as they bid up the price of cash cattle to $150-152 live and $240-242 dressed mid-week.
The largest food industry trade show in the Middle East, the Gulfood Show in Dubai, is the first stop for the group, which includes representatives from the Cattlemen’s Beef Board, United Soybean Board, Illinois Corn Marketing Board, Iowa Corn...
The most recent Cattle on Feed report was called bearish for the markets as onfeed populations and placements were higher than expected, and marketings were lower than expected. The most surprising of the numbers was placements, which far outstripped industry expectations.
All was quiet on the beef front last week. The same could not be said for the world of pork, however, as the Humane Society of the U.S. fired shots over the bow of the pork industry. Look for more information on that unfolding story in this week’s Beef Bits and next week’s issue of WLJ.
“We had assumed that under the continuation of the old law that more land would be planted to corn because of the ACRE program,” Glauber said. “Now with the new programs based on base acres, we think there will be more flexibility. They will look at the soybean-to-corn price ratio and will plant a little less corn than normal.
There were plenty of hints. In 2011, a 45 percent increase in grid premiums to $32.3 million did not in itself constitute a trend. But USDA’s mandatory reporting, never known for overstating, showed 2012 starting with a CAB premium of $8 per hundredweight (/cwt.
AgriBank, the Farm Credit System district bank that sources funds for Farm Credit Associations covering half of the nation’s cropland, still sees wide disparities in farmland appreciation, depending on the 15 states within its territory.
According to the Purdue Farmland Value Survey, Indiana farmland values have nearly tripled in the last 10 years—from an average of $2,509 per acre in 2003 to $7,446 in 2013. But abundant corn and soybean crops in 2013 have caused commodity prices to fall, making farm profit margins much tighter.
While the cash trade last week seemed indecisive—at first sending signals that the market would be steady to lower, then later suggesting it would be steady to higher—the big questions focused on what packers would be doing.