|COW97 Ag News from Brownfield|
|Managing for Profit: What to do when battling Mother Nature|
|Fri, 25 May 2018 09:28:48 +0000|
Despite the slow start to spring, the majority of the Corn Belt has been able to catch up in terms of planting progress. But, in some areas, they are still playing catch-up.
In this Managing for Profit, Stephanie Porter with Burrus Seed will talk all things late planting for those battling Mother Nature this spring.
AUDIO: Managing for Profit, Stephanie Porter
|Missouri and Illinois co-host foreign buyers tour|
|Thu, 24 May 2018 21:30:41 +0000|
State agriculture departments in Illinois and Missouri are promoting seedstock cattle to a group of foreign buyers this week. The trade mission has brought Mexican buyers to Missouri and Illinois cattle operations. Bobby Dowson with the Illinois Ag Department says it’s a great way to share resources and grow markets for producers in both states,“This is a U.S. livestock genetic partnership. Federal monies. They give us those monies and we can take two states together and just time and resources are considered – and we can go to multiple herds in both states.
|Soybean and corn revenue projections slightly improved|
|Thu, 24 May 2018 21:27:56 +0000|
Average prices for corn and soybeans are higher than in recent years, resulting in a brighter crop revenue picture for 2018.
“USDA is being a bit more optimistic about our prices,” Gary Schnitkey, a farm management specialist at the University of Illinois told Brownfield Ag News Thursday. Corn so far this marketing year averages $3.80 a bushel, according to data from the USDA Office of the Chief Economist. The yield projection of 174 bushels an acre would result in revenue of $661 per acre, but Schnitkey says a lot can happen during the growing season.
|Milk futures, cash dairy mixed|
|Thu, 24 May 2018 21:12:57 +0000|
Class III milk futures at the Chicago Mercantile Exchange closed mixed Thursday supported slightly by strong international markets and export demand.
The USDA reports bi-weekly whole and skim milk powder, cheddar cheese and butter prices are improving in both Western Europe and Oceania regions.
May milk closed down a nickel at $15.19. June milk was a penny higher at $15.76. July milk down $0.03 at $16.42. August closed down a penny at $16.79.
|Grains, oilseeds can’t follow through on early gains|
|Thu, 24 May 2018 21:09:58 +0000|
Soybeans were modestly lower on profit taking and technical selling, unable to follow through on the early advances. The trade continues to monitor ongoing talks with China, including the lack of an application of Beijing’s proposed 25% import tariff, and unknown destinations bought 264,000 tons of new crop U.S. beans. Weekly old crop sales were a net cancellation, after last week’s big cancellation by that unnamed buyer. Soybean meal was lower on profit taking and bean oil was nearly unchanged, consolidating.
|Cattle futures mostly lower ahead of on feed report|
|Thu, 24 May 2018 20:57:24 +0000|
Chicago Mercantile Exchange live cattle futures were lower on profit taking, the recent mixed boxed beef trend, and traders waiting for the week’s widespread direct cash business. June was down $1.05 at $104.40 and August was $1.02 lower at $101.77.
Feeder cattle were mostly lower with May up on pre-expiration position squaring and the other months down on profit taking and a lack of follow through after early higher activity.
|Trump administration pushing for more farm exports to China|
|Thu, 24 May 2018 20:57:15 +0000|
President Trump is pushing for an extra $25 billion in U.S. agricultural products to be exported to China, which is part of the agenda when Commerce Secretary Wilbur Ross travels there to continue trade talks. Agriculture Secretary Sonny Perdue says Ross will carry with him a list of U.S. farm commodities.
“Specifically on commodities that we believe we could expand our exports to China with,” said Secretary Perdue in comments provided by the USDA.
|Craft beverage council approved|
|Thu, 24 May 2018 20:49:51 +0000|
Governor Rick Snyder has approved legislation to change the Michigan Grape and Wine Industry Council to the Michigan Craft Beverage Council.
Michigan Department of Agriculture director Gordon Wenk tells Brownfield the Michigan Craft Beverage Council will now represent makers of wine, beer, hard cider and spirits. “I think the purpose of the Craft Beverage Council will be to come together and look at some joint projects that can be done.” The council currently maintains about $600,000 in funding through non-retail liquor license fees to manufacture wine, beer or spirits and fees from out-of-state sellers.