Each year, the American Farm Bureau Federation surveys about 1,000 young farmers and ranchers from across the country. The 22nd annual survey found that 91 percent of young people in agriculture are more optimistic about farming than they were five years ago. An equal percentage say they expect to be lifelong farmers.
Talk of strong demand reportedly supported corn Sunday night. Expect slow trading and limited price action over the next two weeks as many in the financial industry celebrate the holidays. Conversely, news events might spur choppy trading as low trading volume tries to accommodate orders. Wire service sources cited strong demand and possible spillover from the wheat pit for limiting corn losses Sunday night. The market seems likely to test moving average support before Christmas.
It’s hard to believe 2014 is coming to an end. To commemorate the year, over the next several issues of the PorkNetwork daily and week-in-review e-newsletters, we are going to feature the top 45 articles from the year.
By Ron Plain and Scott Brown, University of Missouri
Clemons Food Group has announced plans to build a large new hog slaughter plant in Coldwater, Michigan. The plant is planned to begin operations in late 2017. This will be the nation's first large hog slaughter plant since the Triumph Foods plant opened in St Joseph in January 2006.
Corn traders seem to be balancing positions before the weekend. Despite firm equity markets and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets turned decidedly lower Thursday night. Corn futures followed wheat downward, but firmed later in the day when a private forecaster predicted reduced 2015 plantings. March corn futures closed 0.5 cent lower at $4.105/bushel Friday, while July skidded 0.25 to $4.26.
The cost of soybean seed has increased more than 225% since the introduction of glyphosate resistant varieties in 1996. This increase in price has caused growers to reduce the rate of seeding in fields. However, the lower crop seeding rate can lead to a more open canopy for weeds and increased competition with the crop.
After all is said and done, economic analysis boils down to supply and demand. The dance is complex, but the concepts are pretty simple. For pork producers, 2015 is looking to be among the most profitable years ever.
Review of the new long range climate outlooks released today from the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center indicate that the wide variability in temperature swings of fall and winter are likely to continue; and the potential for a weak El Niño lingers, explained Dennis Todey, South Dakota State Climatologist & SDSU Extension Climate Specialist.