On the USDA Cattle Inventory report, USDA estimated the
number of cattle grazing on small grain pasture at the start of this
year in Kansas, Oklahoma, and Texas at 1.590 million head. This
compares to 1.630 million head in 2023 and 1.710 million head in 2022.
Total pork supplies in cold storage at the end of
December were pegged at 427.3 million pounds, down 6% from the previous
year. Total beef stocks in the freezer were reported at 485.1 million
pounds, 11% lower than the year before. Total chicken stocks fell 6% to
880.1 million pounds.
Greater Omaha Packing has acquired Heartland Proteins.
Keith Fulton, owner of Heartland Proteins, began operations in 2018. He
previously worked with Progressive Protein, the wholly owned rendering
operations of Greater Omaha. Heartland Proteins specializes in
purchasing and distributing meat and bonemeal for the animal feed
Tyson Foods officially opened its new $355 million food
production facility in Bowling Green, Kentucky. The plant was built to
support a significant expansion of its bacon production capabilities.
The 400,000 square foot plant is expected to produce 2 million pounds a
week of premium quality Jimmy Dean and Wright Brand bacon. Bacon
currently represents more than $1 billion in Tyson sales across retail
and food service.
Tyson Foods reported adjusted operating income in its
first fiscal quarter ended December 30th at $411 million, down 9% from
the previous year. Tyson Beef reported an adjusted operating loss of
$117 million versus a profit of $129 million the year before. Tyson
Chicken had adjusted operating income of $192 million, an improvement
over the previous year, after closing 7 different chicken facilities.
The best performer of the quarter was Tyson Prepared Foods, which had
an adjusted operating income of $264 million, about even with the
The largest beef cowherd in the US is in Texas,
estimated at 4.115 million head at the beginning of 2024. This is more
than double the size of the state with the next largest beef cowherd
which resides in Oklahoma at 1.922 million head. Rounding out the top
ten beef cowherd states are Missouri, Nebraska, South Dakota, Kansas,
Montana, Kentucky, Florida, and North Dakota.
John Deere announced it would tap SpaceX's satellite
fleet to propel its digital farming push and help automate planting and
harvesting in remote locations. The agreement shows the growing
influence of Starlink, a division of Elon Musk's SpaceX that uses
satellites blasted off by the company to provide high-speed internet.
Starlink has the world's largest satellite fleet with nearly 5,300
working satellites in orbit. Deere said that about 30% of the acres
farmed in the US lack sufficient Wi-Fi service, and 70% of the acres
farmed in Brazil lack adequate connectivity.
A federal appeals court gave Green Plains Renewable
Energy new life in a lawsuit it filed against ADM, which alleged ADM
interfered with a Green Plains ethanol contract by conducting a scheme
to illegally depress the ethanol cash market in 2017. The US Court of
Appeals for the Seventh Circuit vacated the appeal decision, and sent
the case back to the Illinois court where Green Plains will have the
opportunity to file an amended complaint.
Individual states release condition ratings for winter
wheat during the winter. The last Kansas wheat condition rating was 54%
good-excellent, compared to 45% in December and 21% last year.
Oklahoma's wheat condition rating for January was 63% good-excellent,
versus 67% in December and 17% the previous year.
AgCoA was a farmland investment startup that was owned
by the Canada Pension Plan Investment Board, a government-owned group
managing the retirement funds of 21 million Canadiens. In 2017, the
Canadian board decided to offload a half billion-dollar piece of its
American farmland portfolio, including all 22,830 acres of its Nebraska
land. The buyer of those farms wasn't publicly listed, but it became
transparent recently that it was Bill Gates. In the past six years,
Gates has spent more than $113 million buying Nebraska farmland. He now
owns around 20,000 acres of Nebraska farmland across 19 counties in
Nebraska after selling some land in recent years. Gates land ownership
in Nebraska also includes the water underneath it, as he has access to
191 existing wells.