Farmers and Ranchers Livestock in Salina recently sold
to Winter Livestock, adding to their other three auction barns in
Kansas. They also own and operate one auction in Colorado and another
one in Wyoming. Mike Samples has been the manager of the Farmers and
Ranchers sale barn since 1987. Samples plans to stay involved in the
auction market for two years to help with the transition.
Total pork stocks in cold storage at the end of
February were pegged at 423.1 million pounds, down 8% from last year.
Pork belly stocks decreased by 15.2 million pounds, while ham stocks
increased by 13.1 million pounds. Total beef stocks in the freezer were
reported at 428.1 million pounds, down 2%, while total chicken stocks
increased by 1% to 793.3 million pounds.
The USDA announced that it will reinstate the July
Midyear Cattle Inventory report, to be issued on July 25th. The Biden
Administration announced in April 2024 it would discontinue the July
report for budget reasons.
Export registrations for more than 1,000 US meat plants
quoted by China under the 2020 "Phase 1" trade deal lapsed on March
16th. Then, on March 17th, China renewed registration for US pork and
poultry facilities until 2030, but the registration for US beef
facilities remains listed as "expired".
USDA estimated the total US hog inventory as of March
1st at 74.572 million head, 99.8% of the previous year. Market hogs
were pegged at 68.532 million head (99.8%), while hogs kept for
breeding were reported at 5.980 million head (99.4%). Sow farrowings in
the December-February quarter were at 2.892 million head, down 1% from
the previous year. The pig crop was quoted at 33.701 million head, even
with last year, thanks to a 1% increase in pigs per litter to 11.65.
USDA revised the December report down by 940,000 head and the September
report down another 605,000 head. BIG MISS!
American Foods Group closed the Cimpl's beef processing
plant in Yankton, South Dakota, on March 15th. AFG acquired the plant
in 2005 from the Rosen Meat Group. The plant had a slaughter capacity
of 700 head per day, and processed cows and bulls.
Grains
ADM made a fresh wave of job cuts last week at its
largest unit, the grain trading and oil processing division. In
February, ADM said it would cut up to 700 jobs and reduce costs by
$500-750 million over the next three to five years, after posting its
lowest fourth-quarter adjusted profit in six years. The job cuts
represent about 1.7% of the company's global workforce. The new wave of
job cuts began at ADM’s Swiss office, which is its European
headquarters.
Enrollment began on March 19th for the new Emergency
Commodity Assistance Program (ECAP) for grain farmers. The $10 billion
program was provided in the American Relief Act of 2025 to help
producers offset some of their financial losses from 2024 crops.
Eligible commodities include corn, soybeans, wheat, sorghum, and
cotton. The payments will be based on 2024 planted acres for the
eligible crop.
Corn stocks in all positions on March 1st were
estimated by USDA at 8.151 billion bushels, down 201 million bushels
from last year. Soybean stocks as of March 1st were reported at 1.910
billion bushels, an increase of 65 million bushels from a year ago.
Wheat stocks were at 1.237 billion bushels, up 148 million bushels from
the year prior. Stocks still held on the farm accounted for 55% of all
corn stocks and 45% of all soybean stocks.
All wheat acres on the USDA Prospective Planting report
came in at 45.350 million acres, a decrease of 729,000 acres from 2024.
Most of the decline came from spring wheat, where acreage was estimated
at 10.02 million vs. 10.63 million last year. Kansas winter wheat acres
were projected at 7.30 million, down 300,000 acres from last year and
down 800,000 acres from 2023.
On the Prospective Plantings report, Kansas corn acres
increased by 100,000 to 6.40 million, soybean acres decreased 230,000
acres to 4.30 million, and sorghum acres increased by 100,000 to 3.1
million. In Nebraska, corn acreage was forecast to increase 550,000
acres to 10.6 million, while soybean acres declined 300,000 to 5.0
million. Missouri corn acreage was estimated at 3.80 million, up
350,000 acres, while soybean acres dropped 200,000 to 5.70 million.