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Articles by Steve Cornett
Markets: Cattle, Wholesale Beef, Futures All Higher
Markets: Cattle, Wholesale Beef, Futures All Higher Beef Belt Feeders (Dominic Stephens) March came in with a rally in all classes of cattle and wholesale beef. Fed cattle traded in the North at $183 to $183.50 live and $290 dressed, which is steady to 50 cents higher live and $2 lower dressed compared with th previous week. Cattle in the South traded at $183 live, steady to $1 higher. Feeder cattle sold steady to $3 higher and calves sold mixed at $1 lower to $4 higher.
Nalivka: Record Cattle Prices, But the Environmental Challenge is Mounting
Nalivka: Record Cattle Prices, But the Environmental Challenge is Mounting . (BLM) While the beef industry benefits from record high prices, not all is well behind the scenes as the environmental movement and the government (federal, state, and local) lock up more land from cattle grazing. In fact, it was recently reported that JBS has been summoned by the New York Attorney General on the grounds of committing fraud against the consumer with regard to greenhouse gas emissions.
Wildfire Burns 71,000 Acres in Central Nebraska
Wildfire Burns 71,000 Acres in Central Nebraska Betty's Way Fire (Nebraska State Patrol) A wildfire northeast of North Platte, Neb., burned 110 square miles earlier this week, the Nebraska Emergency Management Agency reported. First reported Monday morning, the Betty’s Way fire was ignited by sparks from a mower and burned a swath of grassland through Lincoln and Custer counties. The fire destroyed one home, damaged another and burned about five outbuildings, but no injuries were reported.
Galen and Lori Fink Named Kansas 2024 Stockman of the Year
Galen and Lori Fink Named Kansas 2024 Stockman of the Year . (Fink Genetics) Galen and Lori Fink were recognized as the 2024 Kansas Stockman of the Year by the Livestock & Meat Industry Council (LMIC) at the annual Stockmen’s Dinner at Kansas State University. Galen and Lori Fink Galen and Lori (Hagenbuch) grew up on eastern Kansas farms, learning the importance of sound decisions in cattle judging, business and leadership. The couple met at Kansas State University and married in 1975.
Cornett: We Were Wrong on ‘Cheap Food’ Policy
from the New York Times’ Paul Krugman cites the similarities between social decay in the inner cities and—whoa—rural America. It’s very uncomfortable to read. But… Krugman blames it--the unemployment, the drugs, the high rate of food stamp recipients and other welfare-- on the loss of jobs. Says we’re being supported by the affluent urban areas. And, he has a point. But… Look at your small town. Look at the empty businesses, gone to flea markets or antique stores if you’re close enough to a city.
Peel: Planned and Impulse Heifer Breeding
Peel: Planned and Impulse Heifer Breeding . (.) The January Cattle report from USDA-NASS has included the inventory of beef replacement heifers since 1920. The latest USDA Cattle report pegged the January 1, 2024 beef replacement heifer inventory of 4.86 million head, down 1.4 percent year over year. However, the latest report revised the initial estimates of the 2023 inventory from 5.16 million head down to 4.93 million head.
Mackey: Standoff Produces Payoff
Mackey: Standoff Produces Payoff Cattle feeders were rewarded in last week's standoff with higher prices in all regions. Packers will continue to slow harvest rates in an effort to hold the market in check. 27 minutes ago
Vision Meets Fortitude In This Next Gen Cattleman
Mental toughness is not inherited. It is not given. It’s learned, practiced and performed. For Trey Wasserburger of North Platte, Neb., a seedstock cattle breeder and co-founder of Sustainable Beef, LLC, mental toughness is a pillar of his daily life. As an entrepreneur, Wasserburger has spoken on global stages about agriculture and beef production, building a name for his family and business that’s recognized across the cattle industry.
Cornett: Cowboy Conspiracy Theorists Get ‘Catfished’
It all started with this report on a popular online newsletter: “WE WERE ABLE TO OBTAIN THIS PROSPECTIVE SECRET INSTRUCTION SHEET FROM UNNAMED SOURCES. THIS IMAGINED GUIDE PROVIDES THE COLOR FOR BEHIND THE SCENES COMMUNICATIONS AT THE BUY DESK TO THE FIELD BUYERS.* Wow. It was smoking gun stuff to eagerly suspicious ears. A step-by-step instruction sheet on how packing companies use their local buyers to manipulate the market.
U.S. Suppliers Meet Latin American Buyers at USMEF’s Product Showcase
What Will You Do with Profits? Cow-calf producers are looking at the potential for significant profits for 2023 due to high calf prices. This income may give cow-calf producers the rare opportunity to invest capital back into the ranch. 1 day ago
What Cattle Producers Need to Know About Ag Tech
Question of the Week: Are paper records making or breaking you? How are you keeping calving records and other herd information on your cattle operation? Do you write it down on a piece of paper, your hand or the windshield of the side-by-side? OR…do you enter it into an app or spreadsheet right away? There is no one-size-fits-all approach to record-keeping, but I would encourage you to think about how many steps are in your current process and how you can use technology to automate this process.
Cornett: A One-Sided Probe of Beef
You might be inclined to assume that a book entitlted “Raw Deal: Hidden Corruption, Corporate Greed, and the Fight for the Future of Meat” would be negative about the state of the beef industry. You’d be right. I mean, really, really right. Author Chloe Sorvino’s exhaustive, albeit occasionally rambling, 340-Kindle pages concentrate on “big Meat” problems like a teenager obsessing over a fresh pimple on prom night.
Profit Tracker: Feeding Margins Steady, Packer Margins Erode
Despite a $1 to $2 per cwt. decline in cash cattle prices, cattle feeding margins were near steady at $59 per head the week ending Jan 21. A decline in wholesale beef values sliced $40 per head off packer margins, leaving a profit of $108 per head, according to the Sterling Beef Profit Tracker. Packer margins a year ago were estimated at $554 per head. Market-ready steers sold the week ending Jan. 21 at $155.43 per cwt., down $1.84 from the previous week.
Calf Vigor and the Suckle Reflex: What You Need To Know
The importance of colostrum in a newborn calf is no secret. However, it can be a challenge for producers to know whether a calf is getting enough colostrum to receive optimal passive immunity from its dam, since range cows often calve on their own. Passive immunity, determined by the quantity of serum gamma immunoglobulins (IgG) absorbed via intestinal enterocytes by 24 hours after birth, is commonly considered the most important factor affecting the preweaning health and survival of beef calves.
NCBA Sues Biden Administration to Overturn Lesser Prairie Chicken Listing
The National Cattlemen’s Beef Association (NCBA) has filed a Notice of Intent to sue the Department of the Interior and the U.S. Fish and Wildlife Service (FWS) over the listing of the lesser prairie chicken under the Endangered Species Act. This is the first step in court toward overturning the listing and revoking FWS’s final rule for both the Northern and Southern Distinct Population Segments (DPS).
Hereford Feedout Numbers Climb
More Hereford breeders and commercial users of Hereford genetics are discovering the feedlot and carcass performance of their genetics through various American Hereford Association (AHA) programs. Currently, 94 participants from 22 states are feeding more than 1,400 head of Hereford and Hereford-influenced feeder cattle at HRC Feed Yards, Scott City, Kan. The numbers encompass the Hereford Feedout Program* and the National Junior Hereford Association (NJHA) Fed Steer Shootout**.
From Seedstock to Meat Case, A Vision Becomes Reality for Nebraska Rancher
Each year, Top Producer recognizes a producer under the age of 35 who demonstrates excellence in the business of farming, specifically marketing, finance, technology and family and employee relations. Congratulations to Trey Wasserburger, the 2023 recipient of the Tomorrow’s Top Producer Horizon Award. He will be recognized at a ceremony held Feb. 24 during Top Producer Summit in Nashville. Trey Wasserburger always wanted to be a cowboy, but that opportunity didn’t exist through family ties.
Debt Limit Debate: $1 Trillion Coin Not Off the Table
House Speaker Kevin McCarthy (R-Calif.) wants to sit down with President Biden, who has agreed to meet with the Republican leader, without saying when. McCarthy said giving the Treasury Department authority to hike borrowing without add-on GOP conditions is “off the table.” House conservatives want to curb federal spending. Point, Counterpoint "When it comes to the debt ceiling, the president has been clear.
A Decade of Progress: USDA's Antimicrobial Resistance Workshop Set to Renew Action
The United States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) will host a virtual Antimicrobial Resistance (AMR) Workshop on August 30, 2022.
Gas Prices Crush Another Record, Prices Now On Track to Top $5 Soon
Gas prices crushed another record to start June, and experts say there's no sign of a slowdown yet with $5 gas a strong possibility as the summer driving season pushes into high gear. The new highest all-time record is now $4.67 a gallon. AAA reports seven states now average $5 a gallon or higher, which includes California and Illinois.
Rising Prices Contribute to U.S. Restaurant Traffic Decline
If you've dined out at a restaurant lately, you've likely noticed a big swing in the cost of your bill. Food inflation and rising costs have increased the price of a foodservice meal over the past few years, up 9% in April compared to April 2019, contributing to a 4% decline in consumer visits to U.S. restaurants this April compared to a year ago, reports The NPD Group. In April, restaurant traffic was 11% below the pre-pandemic level in April 2019.
Ukraine Grain Production Will Plunge More Than 35%
Ukraine’s 2022 grain crop will be sharply reduced as the war impeded planting and will affect harvest in some areas. The Ukrainian grain traders’ union UGA forecasts the country’s production at 19.2 MMT for wheat (down from a record 33 MMT in 2021), 26.1 MMT for corn (down from 37.6 MMT last year) and 6.6 MMT for barley (down from 10.1 MMT in 2021).
Tech Talk: Corn, Wheat, and Cattle (6.1.22)
July 22' Corn Futures: Trend line support gave way, bringing in long liquidation to into our support pocket as laid out on our Grain Express. (https://www.bluelinefutures.com/research/post/912/) The 100DMA is at 712, with the RSI beginning to reach oversold levels. Is this the end of "buying the dip?" December 22' Corn Futures: Broke through the psychological 700'0 level. These levels must hold for the Bulls to remain in the game.
April Corn-for-Ethanol Use Lower Than Expected
USDA says corn-for-ethanol consumption totaled 414.7 million bu. in April, below expectations for use of 427.4 million bushels. Corn-for-ethanol use fell 8.5% from March but increased 1.8% from April 2021. Total corn consumed for ethanol and other industrial purposes was 471.4 million lbs., down 7.5% from March but up 2.2% from last year. Through the first eight months of 2021-22, corn-for-ethanol use totaled 3.577 billion bu., up 9.1% from the same period last year.
Genetics Valued Over Hide Color
Genetic merit should matter more, while hide color should matter less, according to a recent survey conducted by the Red Angus Association of America. Results show cattle feeders and other industry stakeholders would like to see the feeder cattle market become more objective in its pricing methods. Respondents believe the current hide-color emphasis has endured beyond its point of greatest benefit and needs to be replaced.
Cornett: Thinking the Unthinkable Original
Sorry to be so late to the party here, but I’m just now realizing that “packer concentration” is just the strawman in the debate over the Cattle Market Transparency Act and mandating cash trade. This isn’t Feeders v Packers. It’s Feeders v Feeders. Little v Big. Region v Region. Business structure v Business Structure. One set of folks hoping to use the power of government to help them be more competitive with the other.
Texas Wildfire Losses $23.1 Million in Preliminary Estimates
Texas wildfires that ravaged the Eastland Complex, parts of the Panhandle and Coryell County regions encompassing 433,000 acres have resulted in $23.1 million in preliminary agricultural loss estimates, according to Texas A&M AgriLife Extension Service economists. The losses include more than 400 livestock deaths, lost grazing values and fence repair costs. Dry, windy conditions throughout the winter season and into early spring heightened the fire danger threat.
John Phipps: Is the U.S. Running Out of Farmland?
Paul Butler raises a good question about farmland accounting in a previous commentary: “The only question I have is the 900 million acres of farmland. I come up with about 180 million acres of corn and beans, 45 million acres of wheat (rounded up), 11 million acres of cotton and 3 million rice. A quick google search showed me about 3 million in vegetables. 50 million acres of hay. That’s a total of 292 million. What am I missing?
How to Sell Grain in Today's Bull Market
While no one knows where the commodity prices are going, Mark Hobrock, director of sales for The Andersons, would put money on one market factor: volatility. “Volatility will be here to stay over the next 60 to 90 days,” he shared on the May 6 episode of AgriTalk. Listen now: Slow U.S. planting progress, global disruptions due to Russia’s invasion of Ukraine and a shrinking South American corn crop are just a few of the factors impacting the grain markets—and keeping prices elevated.
Tech talk: Corn, Soybeans, Cattle, and Lean Hogs
July Corn is testing the Up-trendline, but producers are making progress on their planting. In addition, we are holding the 50DMa. We could see some Long Liquidation if that trendline breaks, but it has held going back to the January Lows. Keep an Eye out for the USDA Report later in the week, which could be a catalyst for our next move. July Soybeans are making their way towards the 100DMA (1550'00). If that does break, we could see a move down to 1450'00, which is the old January resistance.
Cornett: Calling Cory Booker Original
Why are we importing beef, especially processed beef, from Brazil? Why aren’t we and all the environmental groups working together to hit DC like Jan. 6, demanding we stop importing that stuff. Food safety, we should say. Rainforest, we should yell. Indigenous tribes, we should holler. Global warming! Where is Cory Booker when we need a leader? From our beef industry, food safety, perspective: Brazil is not Canada. Take a google at “Brazil bribery” and see how many hits you get.
Diesel Prices Just Hit a New Record High, Here's Why a Diesel Shortage May Be Next
Farmers are already faced with a shortage of equipment parts, tires and some crop inputs. Now, due to increased demand and a drop in production, a diesel shortage may be next as the largest diesel distribution hub in the U.S. is sitting on supplies at a 30-year low. Diesel prices hit a record again this week. The national average price of diesel is now $5.54 per gallon, which is an increase of 22 cents from last week, which was when the most recent record was set.
Peel: Grilling Season Approaching
With Mother’s Day behind us, attention now shifts to Memorial Day and the kickoff of summer grilling season. The last year has been characterized by exceptionally strong beef demand that began about a year ago. It appears this demand was driven by post-pandemic pent-up demand combined with surging beef exports.
Tyson Foods Raises Annual Sales Forecast on Higher Meat Prices
Tyson Foods Inc TSN.N raised its full-year sales outlook on Monday after soaring meat prices helped the U.S. processor beat quarterly revenue and earnings estimates. Shares jumped about 2% in premarket trading.
3 Health Considerations for Cow/Calf Confinement Operations
While most cow-calf operations are still pasture-based, confinement facilities are gaining traction in the U.S. With them come a host of routine health concerns for veterinarians and producers. In general, more attention must be given to enhance biosecurity in those facilities to prevent disease from being transmitted between animals, says Dr. Dan Thomson, a veterinarian with Production Animal Consultation and a faculty member at Iowa State University.
Cornett: Shoot Where the Duck is Going Original
In our part of the world, there are a lot of stock water ponds impounded behind watershed dams. They are a popular place for ducks to congregate and quack during the winter. As a kid, with a new-used bolt-action, .410, I liked to sneak up over the dam and shoot at them. I didn’t have much luck. One day my dad came with me. The flock jumped and it looked like so many ducks you couldn’t help but hit one.
Proposed Missouri Beef Plant Meets Resistance
A new 2,400 head per day beef processing facility proposed for west-central Missouri has met local resistance. American Foods Group (AFG) was granted a conditional use permit in April by the Warren County Commission. Now, opponents of the Green Bay, Wisc.-based beef packer have appealed that decision and an appeal hearing is set for May 24.
Cattle Raisers Testify Before Texas House on Border Security
The Texas & Southwestern Cattle Raisers Association testified before the Texas House of Representatives Committee on Homeland Security and Public Safety. Second vice president Stephen Diebel of Victoria spoke on behalf of the association’s more than 17,000 memberships and addressed the hardships many face due to rampant illegal border crossings.
3 Ways to Make Your Employees Still Like You After Planting
The race is on to plant this year’s spring crops. Stress will be high as you make progress in a shorter-than-normal window. While you want to be a doer, you can’t ignore the responsibilities of being a leader, says Bob Milligan, senior consultant at Dairy Strategies and former Cornell University professor. “Even in busy times, you must maintain leadership as your top priority,” he says. Milligan says you must focus on these three issues. 1.
Cornett: Nuggets, But No Squirming
So there were nuggets during the congressional ag committee hearings this week. But Wednesday? In the House ag committee? There we were, ready to watch our elected representatives make the packer honchos squirm with hard-hitting, hard-to-answer waterboardy-quality questions and what did we get? There was no squirming.* Instead, Solid answers from four fellows who just said, over and over in various ways, the market is working. Their big Covid profits were a Black Swan event.
Farmers are the Foot Soldiers in the War Against Hunger
By Motlatsi Musi: Pimville, South Africa Farmers are the foot soldiers in the war on hunger, and that never has been more apparent than it is in today in Ukraine. As fighter jets soar overhead, bombs drop on cities, and tanks battle for towns, heroic farmers like Kees Huizinga are in the fields, trying to plant a new crop. They’re putting seeds in the ground and trying to coax them to life in some of the most difficult of circumstances imaginable.
Grain Prices ‘Well-Supported’ for Next Three Years, says RaboResearch Economist
U.S. farmers have seen prices skyrocket for commodities, and the outlook remains positive, according to Steve Nicholson, global strategist for grains and oilseed at RaboResearch. He predicts grain prices have the potential to keep farmers’ spreadsheets in the black for the next few years. “The fact is, from a producer's point of view, I think these prices will be well-supported because of all these things, these world events, that are happening at the same time,” says Nicholson, an economist.
Brazil’s Drought: The Trigger that Could Take Corn Prices Higher?
This year, USDA is calling for record corn production from Brazil. For 2021/22, the country’s corn crop is predicted to hit 116 million metric tons (mmt), which is larger than last year’s crop by 33%. Corn yields are estimated at 5.50 tons per hectare, 26% above last year’s mediocre crop and 5% above the five-year average. Brazil grows three rounds of corn each year.
White House Asks Congress for Additional $33 Billion in Aid for Ukraine
In a press release on Thursday, the White House announced the Biden administration is calling on Congress to provide additional resources overseas to “help ensure Ukraine’s democracy prevails over Putin’s aggression.” The White House says continued bipartisan support in Congress is “vital” to Ukraine’s victory over Russia. To demonstrate commitment, the Administration plans to keep an uninterrupted flow of aid to address the food crisis.
Brazil's Corn Crop is Shrinking
In just a few years, the carbon markets available to farmers have accelerated to more than 16 different programs to choose from.
U.S. Roundtable for Sustainable Beef Launches New Industry Sustainability Goals
The U.S. Roundtable for Sustainable Beef (USRSB) today announced new sustainability goals for the entire U.S. beef supply chain. The goals, available at USRSB.org, include metrics and targets for all sectors of the industry to encourage and support continuous improvement from farm to fork. These goals and targets aim to identify and supplement sustainability practices and support the collection of benchmarking data for current industry sustainability efforts.
Linamar Corporation Plans to Acquire Salford Group
The same Canadian industrial corporation that acquired MacDon in 2018, Linamar, has announced it will acquire Salford Group. Based in Salford, Ontario, Canada, the Salford Group is known as a manufacturer of tillage and application equipment. “We are very excited to join the Linamar family,” Geof Gray, president of Salford Group said in the company’s announcement.
Part of Brazil’s Safrinha Corn Facing Dryness Concerns
Mato Grosso, Brazil’s top safrinha corn producer, is facing its driest April in 17 years, according to weather service EarthDaily Agro. Accumulated April rainfall for the state is expected to be 70% below the ten-year average. The weather service noted the Normalized Difference Vegetation Index (NDVI) has deteriorated slightly in recent days and soil moisture levels are low and expected to drop even further, potentially cutting the corn yield.
Cornett: Nuggets, But No Squirming
So there were nuggets during the congressional ag committee hearings this week. But Wednesday? In the House ag committee? There we were, ready to watch our elected representatives make the packer honchos squirm with hard-hitting, hard-to-answer waterboardy-quality questions and what did we get? There was no squirming.* Instead, Solid answers from four fellows who just said, over and over in various ways, the market is working. Their big Covid profits were a Black Swan event.
Cornett: Do I detect some cognitive illiberalism?* Original
You guys. I call myself a cynic, but you guys! Well, some of you guys. Did you see the responses on Facebook to Nevil Speer’s factual presentation on Mandatory Cool? Speer made a very solid argument, backed up with numbers and graphs that read clear as day. To me, at least. The COOL experiment came at the start of a cyclical upturn in prices. It did not create the better prices. It didn’t impede imports. Imports increased. The cattle markets in Mexico and Canada increased with the US.
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