With Friday’s WASDE and crop production reports there was much attention, rightfully so, on corn and soybean yields. However, an important metric potentially overlooked for its impact on the cattle and dairy markets was the hay report. The hay production forecast was estimated as of 1 August and projects total U.S. hay production at 116.75 MMT, which is 96.6 percent of last year and 90 percent of the 2011-2020 10-year average. The hay crop year is April to May below is the updated balance sheet.
Depending on the region, drought in 2021 and 2022 have impacted either carry-in stocks, market year production, or both. The Dakotas and Iowa have fared well this year on hay production and supplies, but further west and in the South...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
