Markets
Record world crops on horizon, USDA says; grain prices dip
Record-large U.S. corn and soybean crops will end three years of punishingly tight domestic supplies, the government said on Friday in a report that offered the brightest outlook in years for world food supplies.
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Crop markets fell in reaction to the Friday USDA reports
Corn futures declined significantly prior to the midday release of the USDA WASDE and Crop Production reports, which probably reflected early U.S. dollar gains.
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Cattle Outlook: Record corn harvest expected but planting lags
Corn planting is falling farther behind normal. As of May 5, 12% of corn acres were planted compared to 69% a year ago and a 5-year average of 47% planted by May 5.
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Ag market reactions to USDA reports generally bearish
Corn futures declined significantly prior to the midday release of the USDA WASDE and Crop Production reports, which probably reflected early U.S. dollar gains.
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USDA: Lower beef production projection on tighter cattle supplies
Total U.S. red meat and poultry production in 2014 is projected to be above 2013 as higher pork and poultry production more than offsets declines in beef production.
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WASDE: Corn yield adjusted lower
U.S. feed grain supplies for 2013/14 are projected at a record 400.5 million tons, up 25 percent from 2012/13 with higher area and yields expected for corn, sorghum, and oats.
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Prices for corn and soybeans, five years from now
Although challenges to planting the 2013 crop may provide some degree of support to corn and soybean prices, they have quickly faded from the 2012 highs and are threatening to diminish further from the highs that began in 2007.
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Brent falls below $103, rising supply weighs
Brent crude oil tumbled below $103 a barrel on Friday as rising supplies and doubts over China's economy outweighed stronger signs of a U.S. recovery.
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5 Area Daily Wtd Avg Direct Slaughter Cattle - Negotiated
LM_CT100
St Joseph, MO Fri May 10, 2013 USDA Market News Service
5 AREA DAILY WEIGHTED AVERAGE DIRECT SLAUGHTER CATTLE - NEGOTIATED
Texas/Oklahoma/New Mexico; Kansas; Nebraska; Colorado; Iowa/Minnesota feedlots
(Includes all transactions regardless of delivery day)
Recap for: Thursday, 5/9
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Estimated Weekly Meat Production Under Federal Inspection
SJ_LS712
St Joseph, MO Fri May 10, 2013 USDA Market News
Estimated Weekly Meat Production Under Federal Inspection
Total red meat production under Federal inspection for the week
ending Saturday, May 11, 2013 was estimated at 929.4 million lbs.
according to the
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Oklahoma Direct Feeder Cattle
KO_LS161
Oklahoma City, OK Fri May 10, 2013 Oklahoma City, OK USDA
Oklahoma Range Sales
Feeder Cattle Weighted Average Report for 05/10/2013
Receipts: 2619 Last Week: 10,396 Year Ago: 12,841
Compared to last week: Feeder steers and heifers sold 2.00 to 6.00 lower.
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- New school lunch beef recipes win approval from kids, foodservice
- Prices for corn and soybeans, five years from now
- Drier weather to give big boost to U.S. corn plantings
- Agriculture is expected to remain strong in the coming decade
- What sick day? Farmers take just three a year
- The relationship between retail gasoline prices and futures prices
