As drought deteriorates across the U.S., it's a positive signal for growing a big crop in 2024. And analysts say if weather continues to fuel this year's crop, December corn futures could fall into the $3 range by fall.
The U.S. Drought Monitor shows drought coverage is now at its lowest level since spring of 2020, but USDA's topsoil moisture map shows it's still extremely dry in areas of the west and too wet in the east.
USDA National Agricultural Statistics Service (NASS) announced it’s canceling the July Cattle Inventory Report. In the announcement, NASS blamed budget cuts from the most recent appropriations bills.
The Ag Economists’ Monthly Monitor is a gauge of economists’ views on the ag economy. While outlooks have grown weaker, it’s the erosion in the future outlook that is sprouting fresh concerns.
We’re in a predictable period of a well-established supply and demand cycle. Yet there is a different potential crisis looming for the beef cattle industry.
Oklahoma State's Derrell Peel points out with the U.S. beef cow herd the smallest since 1961 and the all cattle inventory the lowest since 1951, it’s setting the cattle market up for higher highs.
Ag economists’ views on the ag economy took a dive in the first Ag Economists’ Monthly Monitor of 2024; however, relatively strong balance sheets and working capital could provide a cushion for 2024.
With larger-than-expected yield revisions to both corn and soybeans, it leaves one burning question: which states grew such big yields in 2023? USDA NASS released maps and charts to help answer that.
From drought issues posing problems in the Panama Canal to growing tensions and attacks in the Red Sea, it's causing freight rates to skyrocket and ongoing delays in shipping products around the globe.
From the election to world trade, as well as geopolitical factors that have the potential to shape agriculture in 2024, the December Ag Economists' Monthly Monitor shows the possibility of several economic surprises.
With support from the USDA, the National Pork Board and the Beef Checkoff Program, the U.S. Meat Export Federation (USMEF) has embarked on a mission to enhance the merchandising of U.S. red meat in Colombia.
In a positive development for the U.S. meat industry, China recently granted approval for 18 U.S. beef establishments and 12 U.S. pork establishments to export to China, the U.S. Meat Export Federation reports.
After two months of a waning outlook on the ag economy, economists views took a turn in the November Ag Economists’ Monthly Monitor, a survey of nearly 70 ag economists from across the country.
In recognition of many years of service to the U.S. agricultural industry, the U.S. Meat Export Federation recently announced its 2023 award recipients.
Farmers are opting to tap into their savings from recent prosperous years instead of taking out loans at the highest interest rates since 2007, according to surveys conducted by regional Federal Reserve banks.
While the U.S. and EU aim to make progress during an upcoming summit, reaching a final agreement is uncertain. This issue has significant implications for U.S./EU ties, climate goals, and geopolitics.
While ag economists continue to be at odds when it comes to the likelihood of a recession in the U.S., some doubt the country's biggest importers will be able to avoid a recession over the next 18 months.
Ag economists’ view on the ag economy is starting to erode, but when asked to rank commodities, economists are the most bullish on beef. The September Ag Economists’ Monthly Monitor also asked economists what could impact livestock prices over the next 6 months.
As brent crude futures soar toward $100, it's creating a new battle in the Federal Reserve's effort to fight inflation. One money manager warns another rate hike is likely.
U.S. Meat Export Federation President and CEO, Dan Halstrom, recently shed light on an international producer and grower tour, as well as the current state of U.S. meat exports.
The August Ag Economists' Monthly Monitor asked economists when they think cattle herd expansion will start to take place. The majority think cattle contraction will continue for at least another year.
Latin American meat importers recently convened at an USMEF seminar held at the University of Nebraska-Lincoln to gain a comprehensive understanding of the merits and distinctive qualities of U.S. beef and pork.
USDA on Thursday lowered expectations for both ag exports and imports in FY 2023. The export decline is linked to corn and wheat, while the import decline is correlated with easing prices.
Access has recently been granted for Brazilian pork and beef imports to the Dominican Republic, reports the U.S. Meat Export Federation, following an announcement by Brazil’s Minister of Agriculture and Livestock.
The July Ag Economists' Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
The National Drought Mitigation Center estimates 67% of corn and 60% of soybeans are still considered to be in drought, a slight improvement from last week when drought covered 70% of corn and 63% of soybeans.
USDA released a few big surprises in the June acreage report, including a spike in corn acres and a large reduction in soybean acres. The agency also forecasts grain stocks below trade expectations.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
Drought is deepening across the Midwest with 64% of the corn crop and 57% of the soybean crop across the U.S. now covered in drought, a sizable jump in just a week after NASS showed a historic drop in condition ratings.
The CPI for May shows egg prices experienced the largest monthly drop in 72 years, but the price consumers are paying for a dozen eggs is still well above average over the past 10 years.
Following remarkable export totals posted in the first half of 2022, this year has continued to fall short. However, a rebound in travel, tourism and other foodservice has continued to support beef demand abroad.
Last week, 34% of the U.S. corn crop was covered in drought, and this week it jumped to 45%. The second crop conditions ratings of the season from USDA-NASS confirmed dryness is starting to deteriorate crop conditions.
While a backlog of ships may not be grabbing headlines compared to 2020, the labor uncertainty is impacting U.S. red meat exports, says Dan Halstrom, USMEF president and CEO.
Despite facing headwinds in late 2022 through the start of 2023, U.S. beef exports may be looking up, according to data released by USDA and a report compiled by the U.S. Meat Export Federation (USMEF).
Exports rose 2.1% in March from the prior month to a seasonally adjusted $256.2 billion while imports declined 0.3% to $320.4 billion, the Commerce Department said.
With the youngest demographic in the world, the U.S. Meat Export Federation sees Africa as a promising destination for U.S. red meat exports, but not without a number of supply chain challenges.
Michael Regan, EPA administrator, appeared before the House Ag Committee on Wednesday to discuss everything from WOTUS to the farm bill. Here are the highlights that will directly impact producers.
In an essential area for U.S. red meat exports, USMEF announces a leadership change in the Asia-Pacific region, as Joel Haggard transitions into a consultant role and Jihae Yang, former Korea director, steps in.
U.S. pork and beef exports contributed an estimated total economic impact of 15% per bushel to the value of corn and 13% per bushel to soybeans in 2022, study results find, released by USMEF.
In celebration of National Ag Day and National Ag Week, the 2023 Feeding the Economy report shows just how vital the industry is to U.S. families, communities and the world.
U.S. Meat Export Federation leaders share the importance of supporting fellow producers and other key partners and release impact numbers of red meat exports on corn and soybean values in the U.S.
U.S. pork exports finished 2022 strong and continued momentum into January, while U.S. beef exports slow in 2023, with shipments well below the large totals from a year ago, according to USDA data compiled by USMEF.
"In this current situation, the traditional approach to free trade agreements — which isn't just tariff cuts, but that they do tariff cuts on a fully comprehensive basis — isn't what we need right now,” Tai says.