Producers intend to plant 93.6 million acres for corn this year, according to USDA's Prospective Plantings report. If realized, this would be the most corn acreage in the United States since 2013, and would be the third most since 1944.
FAPRI projects net returns per cow this year at $211.53 per head, declining to $85.55 next year and to $9.63 in 2018. The recent FAPRI U.S. Baseline Briefing Book projects crop and livestock price for the next decade.
An extra day in February this year contributed to higher year to year feedlot placements. Derrell Peel, Extension livestock marketing specialist at Oklahoma State University also points out placements last year were 5% less than the 5-year average.
Bearish futures markets following the monthly Cattle on Feed report helped pressure cash cattle prices this week. Calves traded mostly steady to $5 per cwt lower, according to the Agricultural Marketing Service (AMS). Yearlings sold steady to $5...
U.S. beef exports were 3% higher in volume this January compared to a year earlier. Although plenty of challenges remain, the U.S. Meat Export Federation continues to see opportunity to grow the international market.