The markets are still working to digest all the trade action we have seen over the last month. Analysts say grain reports are still lagging behind that data, but economists with USDA say their livestock reports are starting to take that information into account.
“We assume ‘policy in place.’ So, tariffs that China has placed on us in retaliation, and the tariffs we have placed on them, are assumed to continue throughout the remainder of this marketing year and into next marketing year,” said Seth Meyer.
Corn is another area Meyer is watching. Last week’s WASDE report showed little changes, largely because exports to China have dropped, and the marketing year is nearly over.
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USDA’s steady yields and heavy global stocks keep grains range-bound unless demand firms or South American weather becomes a real threat.
As economic pressures continue to squeeze agriculture, ag lenders are signaling a more cautious outlook for farm profitability heading into next year, particularly among grain producers facing lower commodity prices and higher operating costs.
USDA released the November WASDE Report on Friday, the first supply-and-demand estimate to drop since September, just before the 43-day government shutdown.
China’s cost advantage with Brazilian soybeans and vague public messaging leave U.S. export prospects uncertain heading into winter.
Expanded aerial capacity strengthens the U.S.–Mexico buffer against screwworm, providing cattle producers with stronger protection heading into winter and reducing risk to herds along the southern tier.
The facility will increase the range of sterile fly release and bolster preparedness for New World Screwworm.
