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Weekly Outlook: Is the Corn Crop Overestimated?

The USDA's October 9 Crop Production report forecast the 2015 U.S. corn crop at 13.555 billion bushels, 30 million bushels smaller than the September forecast and 660 million bushels smaller than the 2014 crop. The U.S. average corn yield is forecast at 168 bushels, 0.5 bushel above the September forecast, and harvested acreage is forecast at 80.664 million, 437,000 below the September forecast.


Morning Farm Report: Cattle prices increase

Live cattle prices increased $1.15 on Monday to hit $131.93, bringing the 27-day average price to $133.90. Feeder cattle prices jumped on from $188.98 on Friday to $189.38 on Monday. The 40-cent increase brought the 27-day average price to $191.01.

Lean hog prices are also up, jumping 47 cents to $74.30. This brought the 27-day average to $71.16.

Both corn and wheat saw a two-cent decrease, falling to $3.81 and $5.07, respectively. 


Boxed Beef Report: Beef prices up

Choice boxed beef prices jumped $1.35 cents on Monday, hitting $204.32. The 27-day average price now sits at $221.11. Select boxed beef prices rose from $197.93 on Friday to $199.01 on Monday. The $1.08 increase brought the 27-day average price to $214.49.

Choice primal brisket saw the largest incerase of $2.71, reaching $134.04. Choice primal round was not far behind with a $2.29 increase to hit $183.40.

Choice primal flank and choice primial rib were the only primial values that saw a fall, decreasing $1.09 and 36 cents, respectively. 

Events and Contests

Nov. 13 deadline for producer grants

Farmers and ranchers who have always wanted to try something new or innovative but did not have the money to do so now have an opportunity from the U.S. Department of Agriculture, (USDA) through the Southern SARE’s Producer Grants Program.

Events and Contests

St. Onge Livestock to host World Livestock Auctioneer Championship qualifier October 16

St. Onge Livestock, 11693 Sale Barn Rd., St. Onge, S.D., will host the first of three qualifying events for the 2016 World Livestock Auctioneer Championship (WLAC). The western regional qualifying event is October 16 beginning at 9:00 a.m. MST. A total of 22 contestants will compete for a top 10 placing, granting them a spot in the 2016 WLAC at Paris Stockyard in Paris, Ky.


U.S. meat exports disappointing in August

U.S. beef and pork exports struggled in August, remaining below year-ago levels, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). August beef exports totaled 84,167 metric tons (mt), down 18 percent from a year ago. Beef export value was down 24 percent to $498 million, the lowest in 18 months. For the first eight months of 2015, exports were down 11 percent in volume to 703,231 mt and dropped 5 percent in value to $4.31 billion.


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