November

Previous Issues

• Sept 09
• August 09
• July 09
• June 09
• May 09
• April 09
• March 09
• February 09
• January 09

October Cattle on Feed (10/16/09)
Cattle placements in September were up 5% while marketings were down 4% leading to a 1% increase in feedlot inventories. This is the first year over year increase in cattle inventories in 16 months. Lighter feeder cattle placemtents were up and heavier cattle placents are down after a season of good growing conditons through most of the cattle grazing regions. Cattle placements in Iowa were up 30% from last year, putting the state inventory up 9% from a year ago. Encouraged by the prospects of a good corn crop and potential profits next summer (Mar-Jun; see Crush Margin) feeders are bringing in cattle.

Dairy October Outlook (10/05/09)
Dairy outlook from Robert Tigner at University of Nebraska

Swine Margin Forecasts (10/01/09)
The hog finishing margin tracker produced by ISU has been updated to the current futures prices, since the release of the Sept. Hog & Pig Report. The outlook for for the next three months looks dismal for hog finishing sector, with the swine crush margin turning negative. A $50 margin is possible as soon as mid-summer of next year. Click here to view current cruch margins

September Hog and Pig Report Summary (09/25/09)

September Cattle Feeding Opportunities (09/22/09)
There may be opportunities for feeding calves purchased this fall based on current feeder prices and lower feed prices. Full article

November Reports (11/19/09)
USDA released updates on world and U.S. supply and demand for corn and soybeans on Nov. 10th.  These reports were based on crop conditions and movements at the start of the month.  They also reflected the impact of the late harvest and the mid-October freeze.  Projected national soybean yields came in at 43.3 bushels per acre, up 0.9 bushels from last month.  Despite the freeze, most states saw projected soybean yields increase and this put the national yield estimate at a record level.  Projected production rose slightly, to a record 3.32 billion bushels.  The projection for the national average corn yield was lowered to 162.9 bushels per acre, down 1.3 bushels from last month but still high enough to set a record.  That brings projected corn production to 12.92 billion bushels, the 2nd highest on record.  

On the demand side, USDA had relatively few adjustments.  Soybean crush demand was raised slightly, to 1.695 billion bushels.  Soybean exports were increased to 1.325 billion bushels, continuing to build on last year’s record export demand.  But as in the reports from the last couple of months, production increases exceeded demand increases and ending stocks were increased to 270 million bushels.  The 2009/10 season-average price was projected at $9.20/bushel, up 20 cents from last year and down 80 cents from last year.  For corn, feed and residual demand was held steady at 5.4 billion bushels.  Ethanol demand was also held steady at 4.2 billion bushels.  Export demand was lowered by 50 million bushels to 2.1 billion bushels, but this is still up 142 million bushels from last year.  With the supply estimates falling a bit faster than the demand estimates, 2009/10 ending stocks were lowered to 1.625 billion bushels.  USDA’s midpoint estimate for the 2009/10 national season-average corn price was increased to $3.55 per bushel, up 20 cents from last month.