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Agricultural producers’ sentiment increased for the second consecutive month, as the Purdue University/CME Group Ag Economy Barometer index rose 5 points to a reading of 115, a 12% increase compared to the previous year. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the October 2023 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read More about Farmer Sentiment Improves, Producers Credit Stronger Financial ConditionsIndiana corn prices have dropped sharply since September. The most recent WASDE report indicates that corn prices could remain low for the foreseeable future. Obviously, lower expected corn prices will translate into lower expected feed costs during the first part of 2024. What trends in feed costs will we see for 2024? And what’s the impact of corn and soybean meal prices on feed costs for farrow-to-finish and swine finishing operations?
Read More about Prospects for Swine Feed Costs in 2024The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. These are the March 2024 crop budget estimations for 2024.
Read More about 2024 Crop Cost and Return GuideFed cattle prices have strengthened the last few months. At the same time, due to lower corn prices, feeding cost of gain has also declined. Partially in response to these two phenomena, feeder prices and breakeven prices have increased substantially.
Read More about Trend in Breakeven Prices for Cattle FinishingAs the calendar turns to November, many farmers in the eastern Corn Belt still have corn left to harvest. According to USDA, 68% of corn in Indiana has been harvested as of November 5th. Wet corn in the primary culprit. As a result, many elevators are full and are at drying capacity.
Read More about November 2023 Corn & Soybean Basis UpdateThe Purdue University-CME Group Ag Economy Barometer rose 4 points in October to a reading of 110. The modest improvement in farmer sentiment resulted from farmers’ improved perspective on current conditions on their farms as well as their expectations for the future. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the October 2023 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read More about Farmer Sentiment Rises as Producers Report Improved Financial Conditions On Their FarmsSlidedeck presentation by James Mintert given at the Livestock Marketing Information Center’s Industry Outlook Conference on October 25, 2023.
Read More about Cattle OutlookCorn prices have declined substantially since the first half of this year. This article examined the impact of higher corn prices on feeding cost of gain for cattle finishing.
Read More about Impact of Lower Corn Prices On Feeding Cost of Gain for Cattle FinishingMost of the recent discussion involving input price changes in U.S. production agriculture has focused on fertilizer prices, which have declined during the last few months. Other inputs have not necessarily experienced this decline in prices.
Read More about Trends in General Inflation and Farm Input PricesAs harvest heats up across the Midwest corn and soybean basis have been weakening. Weakening basis during harvest is typical of seasonal basis patterns. Therefore, to give context to current basis levels it is helpful to compare them to historical basis levels.
Read More about Corn and Soybean Basis Weaken as Harvest Heats Up