Beef prices still falling, Weekend market report
Idaho Farm Bureau's Podcast
English - April 10, 2020 12:00 - 4 minutes - 3.43 MB - ★★★★ - 6 ratingsNews idahofarmbureaupodcast idahoagriculture idahocattle idahofarms Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
It's a warm 46 degrees this morning in Caldwell and Boise. It's a bit colder in Poky and IF, with lows '40s! In Northern Idaho it's 42 in CDA and 40 in Sandpoint It's another perfect planting day. We will see afternoon temps in the ’50s and 60s across Idaho.
On the markets, Corn trading 2 cents higher this morning. May 20 corn futures trading at $3.32 up 2 cents.
Wheat futures are trading 2 to 3 cents higher this morning, Chicago wheat is up almost 3 cents/bu in May, and May Hard Red Spring wheat futures are gaining 1 1/4 cents. FUTURES looking strong, May 20 Chicago Board of Trade is $5.51 that's up almost 3 cents!
Milk continues to drop, now at $13.56 down 1.4 percent this week.
Front-month cattle futures are mixed, with April up by 20 cents. The other front months are down anywhere from $2.07 to $2.62. Feeder futures are lower by as much as $1.45 this morning. The April 7 CME Feeder Cattle Index was $116.79, down by $0.26. USDA estimates 2020 beef production down 255 million pounds from the March estimate.
The USDA has lowered its price projections for livestock and livestock products as the demand situation has changed.
The COVID-19 pandemic is sending crop and livestock prices into a tailspin. Chad Smith has more.
That's it for the weekend market report…You can check out the market prices on the Idaho Farm Bureau web page