How long will low corn prices persist?

Corn prices declined following the USDA's Crop Production report released on November 10 and continue to trade just above marketing year lows. The rate of corn consumption has increased in recent weeks, but the market is skeptical that consumption will increase enough to alter the prospects for abundant year-ending stocks.


Retail diesel prices see small dip to end November

Retai diesel prices dropped slightly by two cents across the US to hit $2.42, bringing the 27-day average price to $2.63. The largest falls were in the Midwest, Gulf Coast and West Coast regions with three cent falls. Only the New England region saw no change.

The highest retail diesel prices are in the West Coast region at $2.62, while the smallest are in the Gulf Coast region at $2.25.


Grain, oilseed futures start Tuesday higher

Grain and oilseed futures were higher Tuesday morning after the Renewable Fuel Standards were raised by the EPA Monday afternoon. The total renewable fuels mandate was set at 18.11 billion gallons, while the ethanol mandate was raised 500 million gallons to 14.5 billion gallons, boosting corn futures. Still, lagging export inspections and better than expected U.S. production could limit the upside. Argentina plans to abolish the 20% corn export tax on Dec 10, 2015, the first day the new regime takes office. The dollar was a bit lower yet still remains above 100.0.


Morning Farm Report: Livestock prices dip

The weekend took a turn down for livestock prices. Live cattle prices saw a $1.78 drop on Monday to hit $130.05. The 27-day average price now rests at $133.90. Feeder cattle prices fell from $166.03 on Friday to $162.75 on Monday, bringing the 27-day average price to $177.76.

Lean hog prices also fell 30 cents over the weekend to hit $58.43, bringing the 28-day average price to $57.39.

Corn and wheat saw opposite reactions over the weekend. Corn increased six cents, while wheat saw a six cent fall.


Westphalen: Weaner breakevens down $2.04

Looking at hog sales in May 2016 using May 2016 futures, the weaner breakeven was $36.89, down $2.04 for the week. Feed costs were down $0.16 per head.


Daily Livestock Report: Red ink returns for farrow-to-finish operations

The recent declines in hog prices will reverberate throughout the marketing chain, but the most noticeable near-term impact will likely be on hog producer returns. In October, compared to a year ago, hog producer returns were down as were estimated margins (price spreads) for the packers. In contrast, calculated margins at the retail level were above 2014’s.

Through the month of October, farrow-to-finish hog producers turned profits for six consecutive months in recent months as indicated by Iowa State University (ISU) estimates.


Retail diesel prices drop

Throughout the United States retail diesel prices dropped an average of four cents this week to hit $2.45. The highest drop in the country was in the Midwest region, where prices fell five cents to hit $2.44. The lowest fall was one cent in the Rocky Mountain region. The highest prices are in the West Coast region at $2.65, while the lowest are in the Midwest at $2.44.


to our redesigned homepage!

Scroll Down for more stories