NASS’s November Crop Report has come and gone and focus for at least the next 60 days will shift to US demand and South America’s general climate patttern. ARC’s primary concern remains the pace of US corn export disappearance, but ethanol’s demand draw has also failed to meet the pace needed to meet the USDA’s…
Expansion in the US beef cow herd has slowed in recent years and is expected to be unchanged or lower by the end of 2019. This has slowed the expansion in the US feeder cattle supply. In January, the total feeder cattle supply was at 101% of last year, but by July, the inventory was…
ARC’s updated balance sheet through 2020 is attached. US exports will be lowered another 50 Mil Bu in Dec without better nearby demand, though we’re in general agreement with the USDA’s outlook. Longer term, hanging over the market will be a boost in US corn seedings. The return of trend yield requires a surge in…
ERS released their carcass weight equivalent meat export calculations for September on Wednesday, and the pork data was disappointing by nearly any metric used. September pork exports slipped to a seven month low of 465 Mil Lbs. Compared to a year ago exports were 8% larger and also record large for the month of September.…
The International Trade Report released on Tuesday showed that the US exported 143 Mil Bu of soybeans during the month of September. The figure was 21 Mil Bu more than a year ago and also the 2nd largest September export rate on record. A year ago, there were not any exports to China during September;…
