Friday, May 22, 2015

 

Closing Grain and Livestock Futures
Jul. corn closed at $3.60, down 5 cents
Jul. soybeans closed at $9.24 and 1/4, down 14 and 1/4 cents
Jul. soybean meal closed at $304.20, up 10 cents
Jul. soybean oil closed at 31.64, down 61 points
Jul. wheat closed at $5.15 and 1/4, down 6 and 3/4 cents
Jun. live cattle closed at $152.12, down 25 cents
Jun. lean hogs closed at $83.72, down 5 cents
Jul. crude oil closed at $59.72, down $1.00
Jul. cotton closed at 63.30, down 43 points
Jul. rice closed at $9.43, down 18 and 1/2 cents
Jun. Class III milk closed at $16.47, down 12 cents
Jun. gold closed at $1,204.00, down 10 cents
Dow Jones Industrial Average: 18,232.02, down 53.72 points

Grain & Oilseed Market Briefs
Grains, oilseeds lower ahead of Memorial Day

Soybeans were lower on fund and speculative selling, with November closing at a new contract low. Soybean planting has been delayed in some areas by rain, with the next set of estimates out on Tuesday. Corn was lower on fund and speculative selling. Corn’s also waiting to see just how much got planted during what was a very wet week in parts of the region. The wheat complex was lower on fund and technical selling, in addition to the mostly higher dollar. Wheat does have some commercial interest, but the overall fundamentals remain bearish.

Livestock Market Briefs
Slow pre-holiday livestock trade

Cattle country was quiet with business done for the week, although it is possible there may be a little more cleanup trade in Nebraska. Boxed beef cutout values were lower on light demand and light to moderate offerings. Chicago Mercantile Exchange live cattle contracts settled 40 points higher to 25 lower. Lean hogs settled 35 points higher to 35 lower. Barrows and gilts in the Iowa/Minnesota direct trade closed .68 lower at 78.72 weighted average on a carcass basis, the West was down .97 at 78.17, and nationally the market was 1.03 lower at 77.18. Pork carcass cutout value was down 1.47 at 85.58 FOB plant.

News Briefs
Walmart announces stricter animal welfare policy
Walmart has announced stricter guidelines around animal welfare and the use of antibiotics in farm animals.
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Animal rights groups applaud Walmart’s move
Animal rights groups are applauding Walmart’s announcement of stricter farm animal welfare policies.
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TPA bill a step forward in Senate
A Trade Promotion Authority (TPA) bill has taken a step forward in the U.S. Senate.
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Congressional Propane Caucus formed
A bipartisan Congressional Propane Caucus has been formed.
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Pork producers set to thrive
A Brazilian consultant says the animal protein market is changing.
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Custom rate estimates released
Farmers can compare custom rates with a new report from Michigan State University Extension.
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AgReliant collaboration provides access to weather data
A seed company and a weather prediction company are coming together to give farmers access to vitally important weather information.
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Agreement expands Geographical Indications
The use of names like parmesan and champagne could be more restricted under a deal signed Thursday.
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USDA: cattle on feed up 1%
The USDA’s latest set of cattle on feed numbers reflects at least some expansion of the U.S. herd.
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Red meat, poultry stocks surge
The U.S. red meat supply in cold storage at the end of April 2015 was up sharply from the end of April 2014.
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April egg production modestly higher
U.S. egg production during April 2015 was modestly higher than in April 2014, according to the USDA.
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Indiana
Celebrating one of Indiana’s specialty crops
Specialty crops play a vital role in Indiana agriculture.
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Michigan
Stewardship bill passes Michigan House
Legislation funding Michigan’s voluntary environmental stewardship program passed in the State House this week.
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Minnesota
Largest Minnesota farm hit by avian flu
The Rembrandt egg facility in Renville has become the largest Minnesota farm infected by avian influenza.
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Missouri
Challenges in the Missouri River bottoms
This planting season has had its challenges for farmers across the Corn Belt.
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Ohio
Food Dialogues – Toledo
The next U.S. Farmers and Ranchers Alliance Food Dialogues event is coming to Ohio.

Weather
Excessive rains ahead for the Nation’s mid-section
During the next several days, a frenetic weather pattern will continue to ease or eliminate drought across the nation’s mid-section.

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