Continued global conflict has taken headlines, and in a spring that has so far gone to plan, it is likely to push grain markets.
Pork exports continued to grow in February.
Cattle markets have seen some volatility in recent weeks, including some price drops, but University of Tennessee ag economist Andrew Griffith says none of the recent price changes impact the overall big picture, which is a tight cattle supply.
In the weeks following a surprisingly low figure in the corn acre estimates, prices haven’t reflected that possibly bullish news.
Beef and pork exports continue to have a major impact on the corn and soybean industries, according to an analysis from the U.S. Meat Export Federation. Exports in 2023 tallied $18.1 billion.
Corn prices climbed after the USDA reported lower-than-expected inventory and planting expectations.
For the first time in 18 months, pork producers posted profitable margins in February, according to data from Iowa State University.
Rain and snow hit a healthy bit of the Midwest over the first weekend of spring — a welcome sight for farmers dealing with drought conditions. However, until planting begins, focus remains on South America.
The feeder cattle market continues to be strong as spring nears.
Corn markets have been looking to bounce back in March, supported by strong demand.
The USDA released the latest WASDE report March 8, but markets shrugged it off fairly quickly, according to analysts.
Pork exports are off to a great start in 2024. Those numbers included another strong performance in top U.S. market Mexico, but also includes growth to key markets such as South Korea, Central and South America, Australia and Malaysia.
Traders have been watching the sharp decline in corn and soybean meal prices, as crop prices have faced downward pressure. Bryan Dougherty, with Total Farm Marketing, said the declines have been pronounced.
Lightweight calves remain in demand as spring edges closer.
In two months much of the Midwest will be actively planting, with farmers getting the early stretch of their crop in. However, a useful tool may not be as helpful as previous years.
Retail meet demand for pork and beef both decreased in 2023, according to an analysis from the Livestock Marketing Information Center.
Returns in cattle production are likely to trend lower in 2024. Matthew Diersen, Extension ag economist with South Dakota State University, says all sectors of the industry, from cow-calf operations to feedlots, are expected to see lower returns as decreased trading offsets higher prices.
Corn and soybean markets continue to watch weather developments in South America, while wheat markets are processing export news and competition in the global market.
Pork export values broke records in 2023.
The grain markets are preparing for the upcoming planting season but dealing with a “slug” of negative news, said Don Roose, president of U.S. Commodities in Des Moines.
It appears buyers are beginning to catch up on purchases after a lengthy period of harsh winter weather.
An increase in open interest could provide some support for crop markets, while South American weather remains a key wild card as crops there reach a crucial time in their growing season. Daniel Flynn, with the Corn & Ethanol Report, says open interest is showing some recovery.
Profitability continues to elude the nation’s hog industry.
Crop markets have been a mixed bag in recent weeks with winter weather and rains sweeping through the country, and attention is focused on South American production.
Chad Hart has served as Extension grain marketing economist at Iowa State University for over a decade. He was born and raised in southwest Missouri, where his parents raised a few cattle and operated a small meat locker. Hart received a B.S. in economics with minors in mathematics, history,…