Kansas City Board of Trade
Archive for July, 2010
30 Jul
Pork Network News
ThePorkNetwork.com
Friday, July 30, 2010
Quotes Weather Video
In This Issue:
Doane Market Outlook: Hogs
Editorial: Are We Sending The Right Messages?
Business Insights: Pilgrim’s Pride Reports Profit Plunge, Plans To Boost Chicken Production
AMI Sends Agriculture Secretary Vilsack A Detailed Response To GIPSA
Iowa Pork Producers Association To Host Regulatory Update Conference
Indiana Pork Industry Bounces Back
KLA: Initiative & Referendum Dangerous To Kansas Agriculture
Farm Families Are Minnesota’s Most Important Small Business
Report: Hog Prices By U.S. & State
Video: No Snow Days Or Summer Vacation For Farmers
Weather: Heat Stresses Crops In South, Showers Soak The Corn Belt
Doane Market Outlook: Hogs
Lean hog futures traded higher again on Friday. The futures market was supported by the firm tone in the cash market and rising pork prices. Some contracts posted new highs again today. Further gains were limited by some profit-taking at the end of the week and month. August closed 98 cents higher at $85.83 and October ended 95 cents higher at $79.03.
Market Outlook Resource Center
Featured Article
Geni Wren
Editor
Bovine Veterinarian
Are We Sending The Right Messages?
Fifty-seven percent of Americans perceive themselves to be overweight, says the new 2010 Food & Health Survey: Consumer Attitudes Toward Food Safety, Nutrition & Health, commissioned by the International Food Information Council Foundation. More…
Business Insights
Pilgrim’s Pride Reports Profit Plunge, Plans To Boost Chicken Production
Pilgrim’s Pride Corp., the second-largest U.S. chicken processor, reported a weaker than expected 38-percent drop in quarterly profit and reiterated plans to boost production into next year, citing tight supplies and strengthening demand.
More…
More Articles
AMI Sends Agriculture Secretary Vilsack A Detailed Response To GIPSA
AMI President J. Patrick Boyle this week sent Agriculture Secretary Tom Vilsack a detailed response to the Grain Inspection Packers and Stockyards Administration (GIPSA) ‘Misconception and Explanation’ document issued July 26 when GIPSA announced that it would extend by 90 days the comment deadline for its undue preferences rule.
More…
Iowa Pork Producers Association To Host Regulatory Update Conference
The Iowa Pork Producers Association is partnering with Iowa State University Extension and Phibro Animal Health to offer regulatory information for pork producers and allied industry representatives September 7.
More…
Indiana Pork Industry Bounces Back
The “Year of Pigs” at the 2010 Indiana State Fair comes as Indiana Pork producers rebound from the impact of the global recession and last year’s H1N1 outbreak.
More…
KLA: Initiative & Referendum Dangerous To Kansas Agriculture
Republican secretary of state candidate Kris Kobach from Piper announced this week, if elected, he will push for initiative and referendum in Kansas. More…
Farm Families Are Minnesota’s Most Important Small Business
You will hear much about the importance of small businesses this summer. Candidates running for public office will talk about the role of small businesses in creating jobs, increasing production and contributing to the economy.
More…
30 Jul
Cattle Network News
Nevada Ranchers Oppose Pipeline Deal With Enviros
Friday, July 30
Nevada ranchers concerned about the potential impact on livestock grazing are upset about a deal between the builder of a 680-mile natural gas pipeline and two environmental groups that agreed to drop their opposition to the project stretching from Oregon to Wyoming.
El Paso Corp. agreed earlier this month to contribute $20 million over the next 10 years toward conservation efforts in the pipeline corridor to be overseen by the Idaho-based Western Watersheds Project and Oregon Natural Desert Foundation. Full Story…
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Cattle Market Situation: The Short Run
Fed cattle prices appear to have bottomed seasonally a bit early this summer. Prices have increased from a low around $91/cwt. in late June to the current level of $94+/cwt. Although it is early to be certain, current prices are consistent with boxed beef prices and there is no obvious reason that current price levels cannot hold into the fall. However, fed prices are unlikely to advance further and may trade in a $93-$95 range until late in the third quarter. Fed prices could advance solidly into the mid to upper $90s by the end of the year. Full Story…
Jolley: NCBA Vs. CBB Vs. State Federations – Can’t We All Just Get Along?
The folks at NCBA convened a press conference early this morning. It was called late in the day yesterday.
A bunch of reporters showed up bright and early at 8:00 AM Denver time to listen to Forest Roberts, Scott George and Steve Fogelsong give a calm and reasoned response to CBB’s recent allegations. A few dozen reporters from around the country, unable to attend the quickly called meeting, called in to hear what these three gentlemen had to say. Full Story…
Troubleshooting Cattle Reproductive Problems
For a cow-calf operation, good reproductive rates are critical to operational success and profitability. It is generally expected that each breeding age female in the herd produces a healthy calf each year and successfully raises each calf until a planned weaning time. Full Story…
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More Articles
Cattle Breeding: Need For Marker-Assisted EPDs
Cattle Market Situation: The Long Run
Timely Beef Cattle Tips For July
Longer Post-Treatment Intervals Can Equate To Profits
Kansas Cattleman Sentenced To 6 Months In Fraud Case
Video: The Angus Report
Click Here To View Video…
More Angus Videos
Video: National Junior Angus Show Panoramas with NCBA’s Tom Field
Video: National Junior Angus Show 2010 On AgDay Television, Segment 1
Video: National Junior Angus Show – Showmanship Tips – Sure Champ
Video: USDA’s Corbitt Wall – National Feeder Cattle Report
Angus Releases
Harsh Named NJAA Outstanding Leader
Research Byproduct: Quality Cattle
Champions Named At 2010 National Junior Angus Show
Angus Health & Profit
Angus News: Wean Early Without Working Overtime
Angus Tag Store Offers Low-Cost ID Options
Preliminary Sire Test Results
A.I. organizations requested that the American Angus Association provide to the membership the identity of and preliminary test results for Angus bulls tested by Dr. Jon Beever of the Universityof Illinois to determine whether they were carriers or free of the mutation identified for Contractural Arachnodactyly (formerly referred to by the name of “Fawn Calf Syndrome”).
Click here to read more.
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30 Jul
Daily Livestock Report
Vol. 8, No. 147 / July 30, 2010
Market Comments
Lean hog futures rose sharply on Thursday on strong
gains in cutout values and optimism that a combination of tighter
supplies and resurgent demand will sustain hog prices for the
remainder of the year. The nearby August contract gained as
much as 147 points while the October and December futures hit
all time contract highs. The charts to the right provide some
indication as to what is underpinning the upward move in hog
futures. The pork cutout on Thursday closed at $89.4 /cwt.,
$3.87/cwt or 5% higher than the week before and $30.3/cwt or
51% higher than during the same time a year ago. The increase
in cutout and hog prices is seasonal but it has been further amplified
by a much tighter supply situation. The spike in prices is
reminiscent of 2008 when cutout and prices for individual pork
items hit all time record highs. Daily prices since mid July have
followed almost exactly the same path as a year ago (see chart)
and the market seems to think that the highs for pork prices
may still be ahead of us. The seasonal increase in prices is being
supported by tighter hog supplies. The chart below shows a running
seven day total of US daily hog slaughter. On Thursday,
the running seven day total stood at 1.949 million head, 7.3%
lower than the comparable time frame a year ago. We currently
estimate hog slaughter on Friday will be around 400,000 head
and Saturday at some 50,000 head. If those estimates are correct,
that would produce a final hog slaughter level for the week
of 2.015 million, 4.2% lower than a year ago. Even more critical
for the market, however, is what happens with hog slaughter
and hog weights in August. As the bottom chart shows, hog
slaughter in 2008 and 2009 rose by more than 100,000 head per
week between the end of July and the end of August. Our current
expectation is for slaughter to continue to track 2.5% to 3%
below year ago levels for the next few weeks but a larger shortfall
will clearly impact a market that already seems to be
stretched. The latest cold storage data showed very tight supplies of bellies (-54% vs. 2009), trimmings (-48.6% vs. 2009) and a
number of other items. Belly prices have escalated sharply in recent days as end users appear to have underestimated the market
and likely liquidated inventories too early. Belly demand tends to taper off at the end of August however. As we move into the
fall, hams will become an even more important component and will need to carry a larger portion of the carcass. Ham prices are
currently trading at some very lofty levels and it remains to be seen how retailers and
