USDA sees tighter stocks lift corn and soybean prices
Kansas State University economist Bill Tierney notes lower U.S. corn production of 8.886 billion bushels, 9.2 percent below July projection, and a soybean crop of 2,628 million bushels, down 8.1 percent. He reports higher ending stocks cuts and exports shifts, boosting the midpoints of price ranges to 2.50 for corn and 5.60 for soybeans, with possible futures for corn near 2.95 to 3.20 and soybeans trading toward the mid-6s.
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Cattlemen face shifts in beef marketing and origin labeling
Hurricane winds of change head toward American ranchers as two major shifts approach. Marketing structure for beef and country of origin labeling threaten to reshape the industry, with animal identification and traceability adding costs and administrative hurdles. Experts at a Kansas seminar warned that major retailers like Wal Mart push for price control and steady supply while producers must align with packers to add value. The origin labeling plan, initially voluntary, aims to prove where animals come from within two years, raising concerns over safety, liability, and regulatory complexity.
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Livestock Prices and Cattle Market Summary Aug 2002
Kansas City and St Joseph reports show slaughter cattle prices steady to weak with boxed beef values down slightly. Live hog demand weak, hog prices low twenties, cattle supplies tightening, bulls scarce, and cow prices mixed across regions. Important figures include steers 62.75-63.00 in slaughter, cows 34.00-40.00, and hogs 19.50-20.00 for 230-270 lb barrows and gilts.
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