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Livestock
Nothing like record cattle prices and profitability to get an industry excited about expansion. The latest USDA Cattle report shows a rapid expansion is underway with cattle and calf numbers up three percent and beef cow numbers up four percent in the past year.
Read MoreThe outlook for the pork industry has turned somewhat more optimistic in recent weeks. The sources of that optimism include a $2 to $4 increase in spring and summer lean hog futures prices since the first of the year and slightly lower new-crop soybean meal prices. A bit higher hog prices and a little lower cost add to the potential for a profitable year.
Read MorePork producers in 2016 are expected to experience another year of tight margins similar to the year just completed. Pork production is expected to rise by about one percent, but beef production will rise by four percent and poultry by about three percent.
Read MoreLive hog prices fell below $40 per hundredweight last week. This means hog prices are at their lowest level since November of 2009 when the U.S. was just beginning to pull off the bottom of the great recession.
Read MoreThe adage that the cure for high prices is “High Prices” is evident this year in beef markets. Finished cattle prices reached record highs around $170 in late 2014 and early spring of 2015.
Read MoreFed cattle prices have declined sharply since early September. This article discusses trends in feeding cost of gain and net returns for cattle finished in Kansas, with emphasis on the extremely large losses currently facing the industry.
Read MoreThe pork industry has largely overcome the impacts of the 2014 PED virus. Pork producers have been disciplined in limiting expansion after record 2014 profits.
Read MoreSoybean meal is an important but an “economically” secondary feed ingredient in hog diets compared to corn. My estimates suggest that soybean meal costs have been about 22 percent of the total costs of raising hogs over the past decade, compared to 32 percent for corn.
Read MoreThe nation’s beef cow herd has started down the path of the largest expansion in 25 years. The last major expansion was from 1990 to 1995 when the herd grew by ten percent.
Read MoreWeather damaged corn and soybean fields are also harmful to hog producers. Rising feed prices mean higher costs of production for the pork industry. Recent higher corn and soybean meal prices have increased anticipated hog costs by about $10 per head.
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