MARKET NEWS HIGHLIGHTS
January 10, 2018
USDA December 1st
Quarterly Hogs and Pigs report showed the total hog population at
73.230 million head, up 2% from last year and record-large for this
time period. This is the second-largest hog inventory on record for
any time period, exceeded by 69,000 head on September 1st
of this year. Hogs kept for breeding were reported at 6.179 million
head, up 1% from a year ago, and the largest breeding head for any
quarter since March 2008. The market hog inventory was estimated at
67.051 million head, up 2% from last year. The September-November
pig crop was estimated at 103%, while farrowing intentions for the
December-February quarter were estimated at 103% and March-May
intentions were at 102%.
stocks in cold storage at the end of November were reported at 505.0
million pounds, down 3% from last year. Pork belly stocks were up
17.5 million pounds, though, from last year's historically low
level. Beef stocks were reported at 487.0 million pounds, down 8%.
Total chicken stocks were quoted at 897.4 million pounds, up a
whopping 13% over last year.
Stuart of Colorado was named as the new CEO of the Cattleman's Beef
Promotion and Research Board (CBB) effective February 1st.
Stuart currently serves as the President and CEO of the National
Livestock Producers Association, which comprises several regional
livestock marketing cooperatives.
US District Court for the District of Kansas in Kansas City extended
an existing stay on a number of lawsuits filed against Syngenta in a
number of states to allow the settlement work to be completed. In
September 2017, Syngenta announced a settlement with farmers who
sued the company following the release of Agrisure Viptera and
Agrisure Duracade MIR162 corn traits. The court announced a
scheduled settlement hearing for January 25, 2018.
generals in 11 states (including Kansas and Missouri) have joined
agricultural groups in asking a district court to block a law in
California that requires labels on products that may contain the
herbicide glyphosate. California's Prop 65 requires products that
may contain glyphosate to include warning labels stating the
chemical is known to cause cancer. The vast body of science done on
the chemical, however, has found no direct link between glyphosate
and human cancers. The EU approved a 5-year extension of
glyphosate's use at the end of November, and the EPA announced in
late December in its draft risk assessment of glyphosate, that the
herbicide is not likely to be carcinogenic to humans.
EPA Administrator Scott Pruitt signed a proposed rule to allow
sorghum oil to qualify as a biofuel feedstock for advanced biofuels
and biomass-based diesel. The EPA proposal came about as a result
of a petition filed by the National Sorghum Producers. Distillers
sorghum oil is still a relatively niche product, and the NSP
petition anticipates a potential of 12 million to 21 million
ethanol-equivalent gallons of fuel to be produced from the oil per
Arkansas Plant Board again voted in favor of its proposal to ban the
use of dicamba from April 16th-October
by an 11-3 vote. The proposed ban is scheduled to go before a
legislative panel later this month. Monsanto has filed a lawsuit in
Pulaski County Circuit Court challenging the ban and claiming the
Plant Board exceeded its authority in prohibiting the weed killer.
The Missouri-based company has asked a judge to block the state from
enforcing the ban.