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Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
The National Western Stock Show named University of Colorado (CU) President Hank Brown its 2008 Citizen of the West. Brown will accept the prestigious award at a dinner on Jan. 16, 2008, at the Adam’s Mark Hotel. The Citizen of the West, selected by a committee of community leaders, is an annual award given to a person who embodies the spirit and determination of the Western pioneer and is committed to perpetuating those Western ethics. “Hank has it all,” said former Sen. Alan Simpson, who also was the 1990 Citizen of the West recipient. “He’s the epitome of the old phrase,
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
At a meeting held in Lewistown, MT, on Tuesday, Sept. 25, the United States Cattlemen’s Association (USCA) launched a nationwide initiative seeking changes to the mandatory Beef Checkoff Program that will permit a portion of checkoff funds to promote domestic beef. Leo McDonnell, USCA director emeritus, Columbus, MT, was the featured speaker at the Lewistown meeting. McDonnell told participants that the time is right for U.S. producers to ask Congress for modifications to the Beef Act that will permit development of national and international marketing programs supporting domestic beef actually derived from cattle born, raised and processed in the U.S.
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 15, 2007 Cash fed cattle trade last week was underway by Wednesday as packers managed to pressure feedlot asking prices lower in the north. Although volume was light in the north and not yet established in the south, prices last week were $2-3 lower in Nebraska at $139-141 dressed, with a few reported live sales at $89.50. In Iowa and Minnesota, prices were reportedly $1-4 lower at $138-141 dressed basis, with the few reported live sales $2 lower at $89. An improving live cattle contract trade gave the market pause last week as fund buying and technical support pushed contract
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 15, 2007 Retail food prices at the supermarket increased slightly in the third quarter of 2007, according to the latest American Farm Bureau Federation (AFBF) Marketbasket Survey. The informal survey shows the total cost of 16 basic grocery items in the third quarter of 2007 was $44.03, up about 2 percent, or $1.08, from the second quarter of 2007. Of the 16 items surveyed, eight increased, seven decreased and one stayed the same in average price compared to the 2007 second-quarter survey. Compared to one year ago, the overall cost for the marketbasket items showed an increase of about 7 percent. For
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
The cause for the current decrease in demand is the result of many factors. Dr. Jim Mintert from Kansas State University attributes much of the decrease to the “phasing out” of the low-carb diet craze. Once again, a diet that was thought to be the magic combination of nutrients to rapidly lose weight has proven to be a passing fad. It seems safe to assume that there was a correlation between the low-carb diet and the changes in beef demand. Jim Robb with the Livestock Marketing Information Center agrees that the low-carb diet probably played a significant role in the changes
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
The surveyed items increased $1.18 in the third quarter of 2006, compared to the second quarter when the survey items dropped by 82 cents. Of the 16 items surveyed, nine increased and seven decreased in average price compared to the 2006 second-quarter survey. Red Delicious apples showed the largest increase, up 33 cents to $1.51 per pound. Other items that increased in price: bacon, up 32 cents per pound to $3.39; flour, up 25 cents to $1.88 per five-pound bag; mayonnaise, up 24 cents to $3.37 per 32-oz. jar; toasted oat cereal, up 21 cents to $3.10 per 10-oz. box; whole
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 22, 2007 U.S. agribusiness Cargill Inc. last Monday said first-quarter net earnings rose 83 percent, led by its origination and processing segment which processes, markets and distributes agricultural commodities. Minneapolis, MN-based Cargill, which provides food, agricultural and trading services, said net earnings in the quarter ended Aug. 31 rose to $917 million from $500 million a year earlier. The results marked the first quarter with Greg Page as chief executive of the second-largest privately held U.S. company. Page took over as Cargill CEO on June 1, replacing Warren Staley who retired as chairman on Sept. 11. Page has also assumed that position. “June
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 22, 2007 North Dakota Stockmen’s Association (NDSA) members gave the beef industry’s 21-year-old research, promotion and education program a vote of support at their 78th annual convention in Bismarck, ND, Sept. 29. Members approved the Beef Checkoff Program resolution which celebrates the success of the checkoff in building beef demand and supports the four structural changes recommended by the Industry-Wide Beef Checkoff Task Force last year. “The beef checkoff already has a long list of accomplishments for our industry—from turning around falling beef demand to maintaining consumer confidence during what could have been the BSE crisis,” said NDSA President Mark Huseth
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 22, 2007 USDA moved its corn crop expectations higher as part of the Oct. 1 Crop Production report. According to National Agricultural Statistics Service (NASS), the total national corn production will reach 13.3 billion bushels, up 26 percent from 2006. The number was on the low end of analysts’ expectations and the news spurred corn prices to move slightly higher following the report, according to Virginia Tech Commodity Marketing Agent Mike Roberts. Based on crop conditions when the report was compiled, yield will average 154.7 billion bushels of corn per acre nationally, up 5.6 bushels from last year’s average with
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
Cash management services can save time and help you work more efficiently It doesn’t seem like it this year, but the holiday season is just around the corner, and grocers are preparing their weekly food advertisements now, market analysts and buyers said. Booking for November and December use has begun, especially on those harder-to-find items needed for the holidays, market analysts said. In the meantime, grocers are throwing a mix of items at consumers hoping something sticks, the analysts said. Most retail meat buyers report being somewhat disappointed they haven’t seen a big, surprising weekend movement in a long time, but
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
Cash management services can save time and help you work more efficiently If you own a small business, many issues demand your time and attention. At the end of each day, do you look back with a sense of satisfaction at a job well done—or do you wonder if you could have made better use of your time? Cash management services, one of the most critical aspects of running any small business, can save you time and may help you work more efficiently. Ask yourself the following questions. Each “yes” answer represents an expenditure of time and money that could be
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
Smithfield Beef Group, Inc., the nation’s fifth largest beef packer, and ContiGroup Companies, Inc., announced last week they had reached an agreement to form a joint venture to build a new beef packing plant in Texas County, OK, just outside the town of Hooker, OK. The proposed facility is expected to create between 2,500 and 3,000 jobs in the area. Construction of the 5,000 head-per-day plant, the first of its kind built in the past 20 years in the U.S., is expected to begin in January 2007 and be complete by the middle of 2008. At capacity, the plant could
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 29, 2007 Feedlots, helped by an on feed number which shows tight supplies ahead, dug in their heels last week in their efforts to increase fed cattle prices. Trade was at a standstill as packers looked for any available bargain cattle before coming to the table in earnest, something that looked to be a Friday affair last week. The previous week, the tactic worked in favor of feeders who pushed trade as much as $4 higher. The last established trade in the southern Plains was in a narrow range of $94-94.50. Live sales in Nebraska sold from $93-93.50 and dressed
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 30, 2006 The U.S. Premium Beef (USPB), a member-driven marketing company dedicated to producing quality products and larger profits for its producers, has increased its premiums for age verified cattle. The premium for cattle that qualify for the Age Verified (AV) program has increased from $10 to $25 per head. The industry is calling for cattle that are verified to be under 20 months of age. Producers should be encouraged to look at the possibility of joining a value-added program such as the AV program at USPB. There is a measurable profit in the long run and the opportunity to increase
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
October 30, 2006 SCA schedules calf contest The 25th annual Sandhills Cattle Association Educational, Performance and Carcass Contest will be held Wednesday, Nov. 8. The cattle will be fed at Ainsworth Feed Yard, Ainsworth, NE, the feedlot where the contest was first held. A pen of steers and a pen of heifers will be fed. Participants may enter any number of calves but they should be weaned, have received pre-conditioning shots, and not be implanted. Contestants retain ownership of the cattle. Expenses are deducted at the end of the contest. For more information, contact the Sandhills Cattle Association at 800/658-0551 or 402/376-2310. Colorado
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
Last Monday, USDA reported delays in corn and/or soybean harvest across nearly a dozen major producing states including Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Nebraska, North Carolina, Ohio, and Wisconsin. “Rain and wet fields are making corn harvest difficult in the Ohio Valley and perhaps will reduce final yields in some of those states. The USDA lowered estimated national corn yield in its October report and may lower it again in its November report. At least, that is the buzz in the trade,” said Kansas State University Extension Grain Economist Mike Woolverton. Picking is approximately seven to 10 days behind
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
Fed cattle trade broke out earlier than normal last week. Trade and demand was moderate in the Texas Panhandle last Wednesday afternoon and Thursday. Compared to the prior week, live sales were .50 to $1 lower at $89-89.50. Trade was very limited in Kansas with a few early live sales at $89-89.50 and dressed sales at $141. Trading was moderate in central and western Nebraska with live sales mostly steady with last week at $89-89.50. There was also reportedly a light test of dressed sales at $138 in Nebraska. Trade in Colorado was also light with early live sales unevenly
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
November 12, 2007 Fed cattle trade stalled last week as packers and feedlots battled back and forth to determine who would end up taking bigger losses on this week’s trade. There was little change in the market picture last week to alleviate the squeeze on either side of the equation despite packers’ cutback in harvest levels, which served only to prevent boxed beef prices from falling farther. As of mid-day last Thursday, packers and feeders were still several dollars apart and market analysts expected the week’s trade at steady money. The previous week’s trade in the southern Plains came at $92-93.50.
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
As most analysts expected, USDA lowered its forecast for the 2006 corn harvest last week. According to USDA’s National Agricultural Statistics Service (NASS), this year’s harvest will average 151.2 bushels per acre for a total expected harvest of 10.745 billion bushels. That number is 1 percent lower than forecast last month and 3 percent lower than 2005’s harvest. Drought had significant effects on the expected yield this year, with much of the northern Plains and western Corn Belt reporting yields significantly lower than previous years. Along the eastern edge of the Corn Belt, too much moisture during harvest has also
Cattle Market & Farm Reports, Editorials
by WLJ
Dec 20, 2007
Both the House and Senate agriculture committees will have new leaders going into the upcoming Farm Bill debate, however, according to Mark Maslyn, executive director of public policy for the American Farm Bureau Federation (AFBF), the committee’s history of bipartisan cooperation will not be affected by the results of the election. “The issues affecting agriculture are the same today as they were two days ago. The major challenge is going to be maintaining the baseline in the committee,” said Maslyn. “We expect that there will be a strong advocacy for the Farm Bill from Chairman Collin Peterson (D-MN).” Maslyn said he


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