Take a look at some of the headlines making news on the Market Day Report and Rural Evening News on RFD-TV.
1.Farm bill Senate vote Monday?
A week after a compromise was reached, the Senate is scheduled to convene on Monday, with hopes for a vote on the farm bill during the week.
Friday, the Senate Committee on Agriculture, Nutrition and Forestry was focused on the farm bill’s deficit reduction, issuing a press release itemizing areas of savings.
Here is the breakdown provided:
- Farm Bill Savings Overview (Total: $37.3 billion):
- Farm subsidy programs: $23.3 billion
- Nutrition: $8.0 billion
- Conservation: $6.0 billion
- Farm Bill Investments Overview (Total: $14.2 billion):
- Crop Insurance: $5.7 billion
- Livestock Disaster Assistance: $3.7 billion
- Energy, Research, Rural Development, Fruit and Vegetable, other programs: $3.9 billion
- Dairy program: $912 million
The farm bill passed the House on Wednesday with a vote of 251-166. Once passed in the Senate, the bill will go to President Barack Obama to be signed.
2. Cattle industry convention set for Feb. 4-7
Industry leaders will descend on Nashville for the Cattle Industry Convention and NCBA Trade Show, getting underway Tuesday.
Packed full of seminars and presentations, cattle producers will get the latest information concerning their livelihood.
Speakers at the event include Captain Richard Phillips, who was portrayed by Tom Hanks in the recent movie “Captain Phillips,” and Archie Manning, former NFL quarterback and father of Peyton and Eli.
For a schedule and other details, check the National Cattlemen’s Beef Association website.
3.USDA report has some surprises for livestock analysts
A little bit of a surprise in Friday’s USDA Cattle on Feed report.
“Industry analysts were expecting a smaller placement number. They also expected to see a larger number of animals marketed,” said USDA livestock analyst Shayle Shagam.
The report may be a little bit “bearish” for the market, Shagam said.
The USDA’s Gary Crawford said the report showed December placements into feed lots 1.68 million, 1 percent above December last year. Marketings about 1.75 million head, 1 percent below last year.
Leaving feedlots with 10.6 million head at the start of January. That’s 5 percent below January, last year.
Last year, fed steer prices were in the $120 100-weight range on average.
“Right now, we’re looking at cattle prices, which are about $148, 100-weight,” said Shagam.
One other interesting number in the report, the percent of heifers in feedlots compared to the whole feedlot operation is 35 percent down a percent from a year ago.
“Which may be a signal that producers are starting to hold back heifers for addition to the breeding heard,” said Shagam.
The USDA released its Cattle Inventory Report Friday.
This report is from our partners at the USDA.
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