Winter is a good opportunity to catch up on equipment maintenance including lubrication and fluid change of tractors, packing wheel bearings on trailering equipment and checking tires on trailers, field equipment, etc., and replacing floors in stock trailers.
Last week Dr. Brooks broke down the most recent USDA Cattle on Feed report noting how estimates overall were in line with pre-release expectations. Given the lack of surprises in this report, it is useful to re-examine the most recent estimates of closeouts offered in K-State’s Kansas Feedlot Net Return series to extend understanding of the current situation faced by feedlots.
Grain and oilseed futures were higher Tuesday morning after the Renewable Fuel Standards were raised by the EPA Monday afternoon. The total renewable fuels mandate was set at 18.11 billion gallons, while the ethanol mandate was raised 500 million gallons to 14.5 billion gallons, boosting corn futures. Still, lagging export inspections and better than expected U.S. production could limit the upside. Argentina plans to abolish the 20% corn export tax on Dec 10, 2015, the first day the new regime takes office. The dollar was a bit lower yet still remains above 100.0.