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Winter hog markets

If you think you know just how this year's winter hog market will be, unfortunately, you might just be right.

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Winter to chill hog prices, economist says

DES MOINES, (Agriculture.com)--The winter months can be the worst time of the year for hog prices. This year is expected to be no different. Seasonally, the winter fundamentals include the highest of the year hog slaughter amounts and heavier weights. This results in high pork supplies and lower hog prices.

To be sure, history shows that hog producers have lost money in three of the last four years, during the winter months. Last year, a 265 lb hog, on average, was worth $56.00 per live hundredweight, while the producer’s ‘break-even’ price was $58.00 per live hundredweight.

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USDA data reaction is mixed

DES MOINES, Iowa (Agriculture.com)--The U.S. farmer will produce less corn and less soybeans in 2011 than the trade estimates, according to the USDA Wednesday. 

The trade sees the data as slightly friendly. Early calls for the commodities are 3-5 cents higher for corn, 5-10 cents higher for soybeans, and wheat is  expected to follow the floor trend.

Better than expected

The combines are rolling in west-central Illinois & corn yields are coming in better than farmers expected.

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Drought to shift cattle production

CHICAGO, Illinois (Agriculture.com)--A severe drought in the U.S.-South could change the face of the cattle industry for years, one analyst says. 

With its driest 10 months ever in a century, Texas is the hardest hit state, according to the U.S. Drought Monitor.

Since January, Texas has only received 40 percent of its normal rainfall, the National Weather Service reports. 

Over 1.0 million acres of range and pasture land have been burnt up from this year's drought, according to anecdotal reports. 

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Market rewards bullish report

CHICAGO, Illinois (Agriculture.com)--The USDA's bullish August Crop Production and Supply/Demand Reports Thursday helped the CME Group farm markets close sharply higher Thursday.

The Dec. corn futures contract settled 25 1/2 cents higher at $7.14. The Nov. soybean contract ended 30 1/4 cents higher at $13.31 3/4. The Sep. wheat futures closed 16 1/4 cents higher at $7.01 1/4. The Sep. soybean meal futures contract closed $8.10 per short ton higher at $353.70 and Dec. soyoil futures ended $0.98 higher at $54.58.

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