DENVER — China’s overseas purchases and imports of pork and pork products in calendar year 2008 were unprecedented for any single country in history, according to U.S. Meat Export Federation calculations from just-released Chinese trade data. Import numbers Based on import totals from China and Hong Kong, the country imported 4.2 billion pounds of pork […]
World economic conditions are now the dominant driving force for cattle prices, according to a Purdue University Extension marketing specialist. “In the old days, cattle and beef prices were primarily correlated with beef supplies because demand tended to stay fairly constant,” said Chris Hurt. “Well, the ‘good old days’ are over as demand is in […]
WEST LAFAYETTE, Ind. — After reaching unprecedented price levels last year, fertilizer markets are adjusting to a dramatically different economic situation, making it hard for fertilizer dealers to set their prices and causing some farmers to delay their purchases, said a Purdue University specialist. “Fertilizer markets are now much more global, not only from the […]
DENVER — Red meat exports continued their strong pace through November, with pork up 20 percent and beef up 9 percent (including variety meat) compared to November 2007. For the first 11 months of 2008, pork and pork variety meat exports were 61 percent larger than 2007, nearing the 2 million metric ton mark; 2008 […]
By MIKE DUFFY Estimating costs of crop production for 2009 will be extremely difficult. Some farmers have received forwarding pricing, some set a quantity only and still others will use the spot market. The price consequences of these decisions are substantial. Foreign competition for material, the current U.S. financial crises, the energy price situation and […]
SAN ANTONIO — Farm income hit a record high in 2008 due in part to record prices for corn, soybeans and wheat, but an economist speaking at a crop outlook seminar at the American Farm Bureau’s 90th annual meeting said farmers can expect lower prices this year. Weakening demand Jim Sullivan, an agricultural economist and […]
REYNOLDSBURG, Ohio — Ohio hog producers had 1,930,000 hogs on hand Dec. 1, 2008, up 5 percent from a year earlier, and up 1 percent from last quarter. The number of market hogs, at 1,760,000 head, was up 5 percent from last year and up slightly from last quarter. Breeding stock, at 170,000 head, was […]
USDA farm programs: Advance direct and counter-cyclical payments started in December.
ARLINGTON, Va. — The American Feed Industry Association and Feedstuffs have named the Cargill Animal Nutrition plant in Martinsburg, Pa., as the 2008 Feed Mill of the Year.
URBANA, Ill. — Total planted acreage of all crops could drop substantially if crop prices remain generally low, said a University of Illinois Extension marketing specialist. “Within that context, however, an increase in corn acreage may be needed,” said Darrel Good. “It appears winter wheat seedings, particularly of soft red winter wheat, have declined from […]
It’s not to late to make changes for tax purposes. This year farmers have more alternatives to consider with respect to cost recovery or depreciation on assets that they placed in service during 2008.
WASHINGTON — Dairy Farmers of America, its former chief executive officer, Gary Hanman, and its former chief financial officer Gerald Bos will pay a $12 million civil monetary penalty for attempting to manipulate the Class III milk futures contract and exceeding speculative position limits in that contract. The settlement was announced Dec. 16 by the […]
The stage seems to be set for recovery in the grain markets.
Huge rift between U.S. soybean producer boards. The American Soybean Association is blasting the United Soybean Board, raising “serious ethical, legal, and financial allegations” about how farmer checkoff funds and program activities are being conducted.
ST. LOUIS — Monsanto Co. has received regulatory approval in the European Union for the importation of Roundup Ready 2 Yield soybeans. This approval follows the European Food Safety Authority’s opinion in July concluding Roundup Ready 2 Yield is safe for import as food and feed. Roundup Ready 2 Yield soybeans are the next generation […]
COLUMBUS — The federal government has made it official: We’re in a recession. It’s no surprise to most Ohioans, and certainly not to Gov. Ted Strickland, who decreed Dec. 1 that Ohio faces a $7 billion budget deficit in the upcoming 2010-2011 budget.
WEST LAFAYETTE, Ind. — Hog producers may actually be helped by the current recession because of lower feed costs, said a Purdue University Extension marketing specialist. Back into profitability “Lower costs in combination with smaller pork supplies in 2009 could be the combination that puts the industry back into profitability,” said Chris Hurt. “Hog prices […]
WASHINGTON — The U.S. Department of Energy’s National Renewable Energy Laboratory and Petroleo Brasileiro S.A. (Petrobras), the largest energy company in Latin America, are working together to accelerate the development and international commercialization of biofuels. The announcement was made Nov. 20 at the International Biofuels Conference in Sao Paulo, Brazil. “By bringing Brazilian expertise together […]
DENVER, Colo. — While economic caution flags are flying as we enter the final quarter of 2008, both U.S. beef and pork export levels continued to exceed expectations through the first nine months of the year. U.S. pork exports built on the record set in August, skyrocketing 61 percent in September over totals from a […]
WASHINGTON — A new approach is needed in world trade talks, considering the stalled Doha round of negotiations, according to the American Farm Bureau Federation. Federation president Bob Stallman said the organization will shortly begin discussions with domestic and international business and trade leaders in an effort to find a new way to move forward. […]