Ag News

Grassley, Colleagues Introduce Bill To Increase Transparency In Cattle Pricing

IARN — Sen. Chuck Grassley (R-Iowa) along with his colleagues Sens. Jon Tester (D-Mont.), Tina Smith (D-Minn.), Joni Ernst (R-Iowa), Mike Rounds (R-S.D.), Cindy Hyde-Smith (R-Miss.) and Steve Daines (R-Mont.) today introduced legislation to foster efficient markets while increasing competition and transparency among meatpackers who purchase livestock directly from independent producers. This bill will require that a minimum of 50 percent of a meat packer’s weekly volume of beef slaughter be purchased on the open or spot market.

“The lack of transparency in cattle pricing isn’t a new problem, but the negative effects of the fire in Holcomb, Kansas, and COVID-19 have highlighted the need for additional price transparency measures to ensure producers are getting a fair price for the hard work of raising cattle. Food doesn’t come from the grocery store; it comes from tens of thousands of farmers and independent producers who work day and night to ensure families across the country have an abundant supply of food. Independent producers deserve to be paid what their beef is worth,” Grassley said. Read more

Replant Tips: “Make A Decision And Stick With It”

IARN — Early planted soybeans are most at-risk, following weekend frost.

A technical agronomist first recommends giving plants a couple days to see whether they are going to survive or not. She then provides recommendations for acres needing replanted.

Nicole Stecklein, DEKALB Asgrow technical agronomist, offers advice to farmers who might need to replant soybeans. She recommends contacting your insurance agent and then lining up seed.

“In corn, if you are going to plant in a late window, you are going to want a shorter maturity. On the soybean side, it’s different. The later you plant, the longer season you want to make it,” Stecklein said.

Extended forecasts look promising for replanting acres.

“It looks like we are going to warm up a bit. I saw some 80s at the end of the 10-day forecast. But then they’re also talking (about) rain. I like to wait, when we get a frost event, to determine if I have a stand or not,” Stecklein said.

The best thing you can do when it comes to replanting is: “Make a decision and stick with it,” according to Stecklein.

“When it comes to some tricky decisions, make your decision and go with it. I think that’s going to be important this year, and in this situation. When you go out and make a determination, don’t take a day or two to ‘ho hum’ about it. Make your decision and go with it,” Stecklein said.

Last, but not least, Stecklein encourages producers to “not give up on a crop showing potential.”

“You’re always going to find some sort of tough spot within the growing season, whether it comes down to weather, prices, or whatever it is. If you give up on the crop, the crop is going to give up on you. if you have potential, no matter what stage, continue to make the right decisions,” Stecklein said.

Story courtesy of the Iowa Agribusiness Radio Network. Read more

May WASDE: “Relatively In Line With Expectations”

IARN — Tuesday’s World Agricultural Supply and Demand Estimates report did not take analysts by surprise.

The U.S. Department of Agriculture (USDA) today (Tuesday) released its monthly World Agricultural Supply and Demand Estimates (WASDE) report. Joe Lardy, CHS Hedging market research analyst, says “most numbers came in line with expectations.”

“We didn’t see a big curveball, or surprise piece of information in today’s report that would leave the market scratching its head,” Lardy said. “For the most part, when we look at the U.S. side of the ledger, the carryouts analysts predicted prior to the report came in relatively in line.” Read more

USDA Approves $1.2 Billion In Food Purchases

IARN — The United States Department of Agriculture (USDA) last week approved $1.2 billion in contracts for the Farmers to Families Food Box Program. The program is designed to connect excess meat, dairy, and produce on farms with families facing food insecurity. The funding far exceeds the $100 million per month the department initially planned for the program, due to high interest and need. The program will purchase $461 million in fresh fruits and vegetables, $317 million in dairy, $258 million in meat, and $175 million in a combination box of fresh produce, dairy or meat products. Read more

May Freeze Threatens Soybean Acres

IARN — Freeze settled on crop ground throughout the Corn Belt this past weekend. What toll did it have on corn and soybeans?

Nicole Stecklein, DEKALB Asgrow technical agronomist in southeast Iowa, says the impact of recent frost is “still up in the air.” Stecklein does not seem too worried about corn, as the growing point typically remains below ground until V5 to V6. However, she does have reason for concern when it comes to emerged soybeans.

“I’m most concerned about soybean acres. When a soybean is coming up, the growing point is the first thing out of the ground,” Stecklein said. “So it depends on when they were planted. There’s not a whole lot out, but there are some. They don’t look healthy at this moment.” Read more

U.S., China Work To Repair Trade Relations

IARN — American and Chinese trade officials met last week to go over the Phase One trade agreement. Greg McBride, commodities broker with Allendale, offers insight into the latest discussion.

“They had a peacekeeping-type of conversation to get an idea of how to keep both sides of expectations, get this trade deal back underway, and not have to worry about the effect of more tariffs,” McBride said. Read more