Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 9/12/2016
CORN MARKET SETS UP FOR RECORD-LARGE HARVEST

U.S. corn harvest is about to commence, with a harvest that is likely to top 15 billion bushels for the first time. New-crop corn futures prices have behaved accordingly. Prices have dropped more than a dollar a bushel in less than 90 days. It is stunning to see that the crop could have been sold for $4.50 after the crop was planted. Prices rebounded slightly in early September, which is not that unusual, even when a bumper harvest is expected.


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MONTHLY MEAT TRADE UDPATE

USDA-ERS released July monthly trade volumes on September 7th. The U.S. export numbers were generally encouraging, and seem to reflect increasing domestic supply coupled with lower prices and a relatively lower U.S. dollar all assisting sales to foreign customers.


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SHEEP AND LAMB MARKET UPDATE

The sheep and lamb industry started out the third quarter with heavy stocks of product in cold storage following several months of significantly high levels of imported product.  Due to this buildup of supply, prices were expected to trend downwards through the duration of the year.  However, prices have recently been higher than expected across much of the sheep and lamb complex since July.  The 3 Market Average (CO, TX, SD) feeder lamb price was tracking consistent to year ago levels but has experienced a recent uptick, with the latest reported price at $203 per cwt., $10 higher than yea


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