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PRSRT STD U.S. Postage Paid Permit #36 OMAHA, NE
April 14, 2011 Issue 242-15-08
Strong Exports Lift Hog Prices
Special Features FFA District 4 . . . . . . . . . . . . . . . . . . . 8-10 FFA District 9 . . . . . . . . . . . . 10-13, 16-17
Weather Al Dutcher . . . . . . . . . . . . . . . . . . . . . . . . 2
Country Living House Plan . . . . . . . . . . . . . . . . . . . . . . . . 3 Recipes . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
The Lighter Side Lee Pitts . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Markets Grains . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Livestock . . . . . . . . . . . . . . . . . . . . . . . . 22
Government Report Government Report . . . . . . . . . . . . . . . . . 6
Ag Management Ag Education Reaches Across the State. . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Livestock News Heartland Cattle . . . . . . . . . . . . . . . . . . 21
By Robert Pore, The Grand Island Independent Both farm level and wholesale hog and pork prices averaged about $20 per hundredweight (cwt) higher than last year in the first quarter of 2011. Higher prices were recorded in spite of larger pork supplies. The estimated commercial hog slaughter was near year-ago levels, while pork production was
up almost 2 percent because the average hog carcass weights increased from 204 to 208 pounds. Interestingly, higher weights occurred in spite of an 85 percent increase in corn prices compared to the first quarter of last year. Higher hog prices are being fueled by a robust export market for pork and some improvement in domestic demand. The U.S. Department of Agriculture is forecasting about a
7 percent increase in pork exports for the first quarter of 2011 and more than a 10 percent increase for the year. Actual pork export numbers for January, the latest month for which data are available, posted a 17 percent increase. Leading U.S. export markets for pork include Japan, with 30 percent of the market, followed by
Production News Will it Pay to Fertilize Wheat in 2011? . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Schedule of Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Classifieds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24-27
Continued on page 15
Report Pegs Corn Supply at 5 Percent of Total Use By Robert Pore, The Grand Island Independent The April World Agricultural Supply and Demand Estimates (WASDE) released Friday by the Agriculture Department reported the corn supply at 5 percent of total usage, the same as the March report. "A 5 percent stocks-to-use ratio is still historically low," said Todd Davis, crops economist with the American Farm Bureau Federation. "That represents just 18 days of supply, so we're still going to need a big 2011 corn crop because we don't expect any drop in total use this year." Davis said that last week USDA released its prospective plantings report showing farmers intend to plant 92.2 million acres of corn this year, the second largest corn acreage since 1944. "This shows that farmers are going to step up to the plate and produce the corn that the market is For daily agriculture news, updates and local happenings, visit the Heartland Express website at www.myfarmandranch.com
calling for. The market needs corn this year and farmers will deliver," Davis said. He said a big corn crop is required to build supplies and to meet growing demand for ethanol, feed and other uses. "We can't afford a short crop this year," Davis said. "We need big yields and strong production in all growing regions." In the April WASDE report, USDA lowered its estimated feed/residual use by 50 million bushels, which was offset by a 50-million-bushel increase in corn used for ethanol. That fact, Davis said, explains the unchanged 5-percent stocks level. The April WASDE pegs corn ending stocks for the 2010-11 marketing year at 675 million bushels, the same as in March. He said WASDE confirms that corn supply and use is still very tight.
"We're also seeing tight cotton supplies, which means we're also going to need a big cotton crop this year," he said. "We are going to be seeing a lot of interplay between the various crops this year. Production changes in one commodity will impact prices of the other commodities, so we're going to need cooperative weather all across the country to meet strong demand." Geoff Cooper " vice president of research and analysis for the Renewable Fuels Association, a lobby that promotes government support for ethanol " said while stocks are still relatively tight, the report shows "that the corn supply picture is not quite as bad as some were expecting. Corn stocks " both in the U.S. and globally " are a little more robust than the market was anticipating." Continued on page 19
MARKET GLANCE Livestock and Products, Weekly Average
Crops, Daily Spot Prices Year Ago 4 Wks Ago 4/1/11
Nebraska Slaughter Steer 35-65% Choice, Live Weight . . . . . . . . . . . . . . . .$97.12 Nebraska Feeder Steers, Med. & Large Frame, 550-600# . . . . . . . . . . . .131.01 Med & Large Frame, 750-800 # . . . . . . . . . . . . . . .110.61 Choice Boxed Beef, 600-750# Carcass . . . . . . . . . .163.47 Western Corn Belt Base Hog Price . . . . . . . . . . . . . .73.52 Feeder Pigs, National Direct, 50#, FOB . . . . . . . . . . . .* Pork Carcass Cutout, 185#, 51-52% Lean . . . . . . . .73.87 Slaughter Lambs, Ch. & Pr.,Heavy, SD Dir. . . . . . . . . . .* Nat. Carcass Lamb Cutout, FOB . . . . . . . . . . . . . . . .283.15
112.78
124.55
151.00 128.00 172.67 81.68 * 91.19 184.50 370.64
160.08 138.37 188.06 88.22 * 94.35 202.75 397.50
Wheat, No. 1, H.W. Imperial, bu . . . . . . . . . . . . . . . . .3.62 Corn, No. 2, Yellow, Omaha, bu . . . . . . . . . . . . . . . . .3.35 Soybeans, No. 1 Yellow Omaha, bu . . . . . . . . . . . . . .9.21 Grain Sorg. No. 2 Yellow, Dorchester, cwt . . . . . . . . .5.29 Oats, No. 2, Heavy Minneapolis, MN, bu. . . . . . . . . . .2.08
7.44 6.84 13.62 11.46 3.83
7.60 7.12 13.69 11.80 3.75
140.00 72.50 * 201.00 76.00
140.00 72.50 * 213.50 75.50
Hay (per ton) Alfalfa, Lrg. Sq. Bales Good to Prem., NE Neb. . . . . .135.00 Alfalfa, Lrg. Rounds, Good, Platte Valley, . . . . . . . . .87.50 Grass Hay, Lrg. Rounds, Premium, Neb., . . . . . . . . . . .* Dried Distillers . . . . . . . . . . . . . . . . . . . . . . . . . . . . .98.00 Wet Distillers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35.00 * No market.