The September World Agricultural Supply and Demand Estimates (WASDE) report came out Wednesday, Sept. 12. This report held some surprises in corn, though the surprises were mostly in that the estimates varied so much from, and were so much stronger than, pre-report industry expectations.
A recent report from Canada points out the country’s dependence on the U.S. as a market for its cattle and beef. This fact is inspiring concern and the report calls for changes to recapture lost competitive standing and international market advantage..
The U.S. Fish and Wildlife Service (FWS) announced the removal of the Wyoming gray wolf from the endangered species list Friday, Aug. 31. Wolf management will be turned over to the state under an approved management plan. The wolf’s large population in the northern Rocky Mountain region was cited as the rationale for the delisting.
Argentina contacted the World Trade Organization (WTO) at the end of August seeking WTO consultation regarding what it alleges are illegal and unscientific trade barriers to Argentinean beef in the U.S. This move came just a week after the U.S. and Japan filed complaints with WTO alleging Argentinean import licensing rules are protectionist.
According to the U.S. Forest Service’s (USFS) active fire mapping service, 2012 year-to-date has had the most fire damage seen in six years, with 7.29 million acres burned already. Only 2005 and 2006 saw more destruction at this time in the year at 7.32 million acres and 7.
The most recent Cold Storage report shows stocks of total red meat and poultry in cold storage as of July 31 at 2.24 billion pounds (bp). Of that, beef represented roughly 20 percent at 455.74 million pounds (mp). When compared to the previous report, beef in cold storage dropped 3 percent but increased in its portion of overall red meat storage.
The most recent USDA monthly Cattle on Feed report which came out August 17 showed few surprises. However, some perspective is needed. Even though placement numbers are down compared to expectations, the numbers are still unusually high relative to the past six years.
The first of many bills for the state’s new fire fees have been sent out to rural California residents. The proceeds of the fee go to California Department of Forestry and Fire Protection (Cal- Fire), but opponents say the fee is an illegal tax and it will soon be challenged in court.
Cash trade trickled along the first half of the week unable to produce a market test. Bids generally trailed asking prices by $4-6 dollars. Asking prices for live cattle in the Southern Plains started the week high at $124, but gradually dipped down to $122-123.