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What is today’s news | Thursday, February 3, 2022

We’re racing toward the weekend, and before the week is up, be sure to catch up on news you may have missed.

Crops and Livestock

The market is surging for all classes of cattle. Why? We finally got through a backlog of heavyweight cattle brought on by the COVID pandemic, when processing plants slowed production or completely shut down. That had put packers in the driver’s seat of price discovery, with too many cattle and not enough slaughter capacity.

Now, beef producers have gained back most of that leverage, said Randy Blach of CattleFax this week. “Beef demand is the highest in 33 years,” he said at the price outlook report.

To most effectively market your grain, you may need to store it into summer and possibly into the next year. To do so, you’re going to need to store it properly.

Watch the video linked below for strategies and read the article here to learn more.

Tech and Machinery

“The biggest pain point for farmers when buying equipment, according to our research, is understanding what equipment is worth. This new feature will put them one step closer to answering that question,” Kyle McMahon of Tractor Zoom says.

Tractor Zoom now offers a web feature that predicts sale prices on specific equipment up for sale at a future auction.

That What’s It Worth database, which includes equipment hours, condition, age, make, model, and size, predicts the sale price with a high degree of precision.

Climate and Weather

Before this week’s widespread ice and snow-mixed storm, dry conditions prevailed in the contiguous U.S., according to this week’s Drought Monitor Map.

Editor Mike McGinnis covers the recent weather conditions and looks ahead. For the period from February 8-12, the National Weather Service Climate Prediction Center forecast strongly favored drier-than-normal weather across the central and southern Great Plains east to the Atlantic Coast.

Agriculture Secretary Tom Vilsack said lawmakers could be persuaded to support climate mitigation when they see the results of USDA-backed trials of carbon sequestration and techniques to help farmers earn payments for sustainable production. “I think there is an opportunity here not only to impact the climate but also to improve farm income.”

The USDA would put up to $1 billion into large-scale demonstration projects through the Climate-Smart Agriculture and Forestry Partnership with farm groups, businesses, states, and nonprofits, which is expected to begin operating this year.

In the past few years, the weather in February has proven very important to the grain markets in South America.

There are three key factors to plug in when you are evaluating weather and crop updates from South America, and Al Kluis explains those and more in the article linked below.

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