Tuesday, May 31, 2022

USDA Weekly Crop Progress Report _ 86% of Corn, 66% of Soybeans Planted Week Ended May 29

OMAHA (DTN) -- U.S. farmers were seemingly busy week last week, pushing corn planting to 86% completion and soybean planting to 66%, USDA NASS said in its weekly Crop Progress report on Tuesday. The report is normally released on Mondays but was delayed this week due to Memorial Day.

"USDA said 86% of the corn crop was planted as of May 29, 2022, down from the five-year average of 87%, but much closer to normal than it has been," DTN Senior Analyst Dana Mantini said. "Illinois is 89% planted, even with its five-year average. Iowa is 94% planted. North Dakota is 56% planted, a jump of 36 points from last week, but well below the 83% average."

For Soybeans, Mantini added, "Illinois, Iowa and Nebraska are all ahead of their five-year averages. North Dakota is now 23% planted versus the average of 70%, while Minnesota is 55% planted and below the average of 80%; 39% of soybeans were emerged, down from the five-year average of 43% for this time of year."

CORN

-- Planting progress: 86% nationwide as of Sunday, May 29, up 14 percentage points from the previous week.

-- Crop development: 61% of corn was emerged as of Sunday, up 22 percentage points from the previous week and 7 percentage points behind the five-year average

SOYBEANS

-- Planting progress: 66% nationwide as of Sunday, up 16 percentage points from the previous week, and now just 1 percentage point behind the five-year average.

-- Crop development: 39% of soybeans had emerged nationwide as of Sunday, 7 percentage points behind the five-year average.

WINTER WHEAT

-- Crop development progress: 72% of the winter wheat crop was headed nationwide as of Sunday, 4 percentage points behind the five-year average.

-- Crop condition: "USDA said 29% of the winter wheat crop was rated good to excellent as of May 29, 2022, up 1 percentage point from the previous week and down from 48% a year ago; 40% of the crop is rated poor to very poor compared to just 19% a year ago. It is the lowest crop rating since the drought of 1989. Kansas is at 28% good to excellent, and 72% of the winter wheat crop is headed, a little below the five-year average of 76%," Mantini noted.

SPRING WHEAT

-- Planting Progress: 73% of the spring wheat crop was planted as of Sunday, up 24 percentage points from the previous week, but down 19 percentage points from the five-year average. Minnesota is 53% planted, up 41 points for the week, and North Dakota at 59% planted.

-- Crop Condition: 42% of the spring wheat crop had emerged as of Sunday, up 13 percentage points from the previous week, but 27 percentage points behind the five-year average.

A LOOK AT THE WEEK AHEAD

"Areas of showers and thunderstorms will develop across the central and Southern Plains and areas eastward for the rest of the week. Some heavier rainfall will be possible in the Plains where thunderstorms move over the same areas multiple times that could cause some flooding. It's too late for wheat but corn and soybeans could use the moisture, though the flooding wouldn't be favorable. This weekend, we'll see a trough in the West send pieces of energy through the country going through next week. Areas of isolated to scattered showers will develop across the Plains and Midwest, with a lot of hit-and-miss opportunities for rainfall," DTN Ag Meteorologist John Baranick said.







April Ag Prices Received Index Up 5.1 Percent, Prices Paid Up 1.0 Percent

April Prices Received Index Up 5.1 Percent   

The April Prices Received Index 2011 Base (Agricultural Production), at 133.8, increased 5.1 percent from March and 28 percent from April 2021. At 122.6, the Crop Production Index was up 1.7 percent from last month and 17 percent from the previous year. The Livestock Production Index, at 145.1, increased 8.0 percent from March, and 40 percent from April last year. Producers received higher prices during April for broilers, market eggs, corn, and milk but lower prices for lettuce, celery, cauliflower, and oranges. In addition to prices, the volume change of commodities marketed also influences the indexes. In April, there was increased monthly movement for strawberries, milk, broilers, and oranges and decreased marketing of corn, soybeans, cattle, and hay.    

April Prices Paid Index Up 1.0 Percent   

The April Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 133.0, is up 1.0 percent from March 2022 and 14 percent from April 2021. Higher prices in April for complete feeds, other services, nitrogen, and feed grains more than offset lower prices for feeder pigs, LP gas, gasoline, and supplements.








Idaho And Western United States SNOTEL Water Year (Oct 1) to Date Precipitation % of Normal (5/31)







Monday, May 30, 2022

Bureau of Reclamation, Pacific Northwest Region - Storage Reservoirs in the Upper Snake River (5/30)

 


Average daily streamflows indicated in cubic feet per second.
Reservoir levels current as of midnight on date indicated.

Upper Snake River system is at 57 % of capacity.
(Jackson Lake,Palisades, Grassy Lake,Island Park,Ririe,American Falls,LakeWalcott)
  
Total space available:1749537 AF
Total storage capacity:4045695 AF


Friday, May 27, 2022

Friday Market Watch

 LIVESTOCK:

Heading into the long weekend, the livestock complex closed mixed as traders' support was touch and go, and largely, the market agreed to let next week's complex sort out the fine details. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.67 with a weighted average of $109.68 on 4,736 head.

From Friday to Friday, livestock futures scored the following changes: June live cattle up $0.60, August live cattle up $0.85; August feeder cattle up $2.40, September feeder cattle up $2.30; June lean hogs up $1.53, and July lean hogs up $2.73.

More: Friday Closing Livestock Market Update - Mixed-to-Lower Trends Ahead of Memorial Day Weekend 

GRAINS:

July corn closed up 12 1/4 cents and December corn was up 11 1/4 cents. July soybeans closed up 5 3/4 cents and November soybeans were down 3/4 cent. July KC wheat closed up 6 3/4 cents, July Chicago wheat was up 14 1/4 cents and September Minneapolis wheat was up 13 cents. 

For the week:

July corn closed down 1 1/2 cents and December corn was down 2 cents. July soybeans ended up 27 cents and November soybeans were up 22 1/4 cents. July KC wheat closed down 17 1/2 cents, July Chicago wheat was down 11 1/4 cents and September Minneapolis wheat was up 26 cents.


DAIRY:

MILK

It was interesting to see June Class III milk slightly higher than a week ago. July was slightly lower while August and later contracts were higher for the week. This does not make sense when looking at the movement of cash this week. However, the psychology of the market is bullish with traders anticipating stronger prices as time moves on. This attitude is based on reduced milk production and steady to stronger demand both domestically and internationally. 

AVERAGE CLASS III PRICES

3 Month: $24.77
6 Month: $24.46
9 Month: $23.90
12 Month: $23.17

CHEESE

For the week, blocks declined 10 cents with only 3 loads traded. Barrels declined 5.50 cents with 11 loads traded. Dry whey increased 2.50 cents with 10 loads traded. Cheese buyers did not see the need to aggressively purchase product. They have some already purchased ahead and have been a little concerned over the impact a recession might have on demand. Global prices have stalled over the past two months which may impact exports.

BUTTER

For the week, butter gained 2.75 cents with 33 loads traded. Grade A nonfat dry milk price increased 6 cents with 26 loads traded. Price almost reached back to the high of earlier this year but declined over the past two days. Price resistance was reached with buyers stepping back again. Lower output may keep price supported for the time being. Markets will be closed on Monday for Memorial Day.

More: Friday Closing Dairy Market Update - Fluid Milk Sales Decline

OUTSIDE MARKETS:

The June U.S. Dollar Index is trading down 0.11 at 101.75. July crude oil gained $0.98 closing at $115.07 per barrel. The DOW jumped 576 points closing at 33,213 while the NASDAQ jumped 390 points closing at 12,131. June gold is up $2.40 at $1,850.0, July silver is up $0.14 at $22.10 and July copper is up $0.0540. July heating oil is up $0.0601, July RBOB gasoline is up $0.1186 and July natural gas is down $0.222.


WEEKLY HAY REPORTS- Here



Thursday, May 26, 2022

This Week's Drought Summary (5/26)

A strong upper-level trough moved across the contiguous U.S. (CONUS) during this U.S. Drought Monitor (USDM) week (May 18-24). Surface low pressure systems and cold fronts were associated with this complex trough. They tapped Gulf of Mexico moisture to spread above-normal precipitation across parts of the Plains, Midwest, Southeast, and Mid-Atlantic Coast, and locally heavy snow across parts of Colorado. One of the fronts moved very slowly across the southern Plains near the end of the week, dumping locally heavy rain on parts of Oklahoma and Texas. Precipitation also fell across parts of the Pacific Northwest, North Dakota, and western Great Lakes. Most of the West was drier than normal, with much of the area from Oregon to California and southern Idaho to New Mexico receiving little to no precipitation. Weekly temperatures averaged below normal behind the fronts from the Pacific Northwest to Great Lakes and from the northern Rockies to Mid-Mississippi Valley. Temperatures averaged warmer than normal across the eastern third of the CONUS and from California to Texas. The continued lack of precipitation in the dry areas further dried soils, lowered stream levels, and stressed crops and other vegetation, while the warmer-than-normal temperatures increased evapotranspiration that added to the stress caused by lack of precipitation. But widespread heavy rain fell across several drought areas, contracting drought and abnormal dryness, especially in the central to southern Plains, Lower Mississippi Valley, Southeast, and Mid-Atlantic states. Drought and abnormal dryness also shrank in the Pacific Northwest where drought indicators showed improving conditions. Drought or abnormal dryness expanded or intensified where it continued dry, especially in southern parts of the West, in the Ohio and Tennessee Valleys, and parts of southern New England.


Northeast

An inch or more of rain fell across southern, western, and northern parts of the Northeast this week, with less than half of an inch falling over interior regions from western Pennsylvania to southern Maine. The rain was enough to remove abnormal dryness from Vermont and New Hampshire, but moderate drought continued in northern Maine and part of West Virginia, while D0 expanded in western New York and southern New England. Dry conditions over the last 60 days, plus low groundwater and streamflow, prompted the introduction of moderate drought over eastern Massachusetts and part of Rhode Island.

Southeast

A cold front and surface low pressure system moved across the Southeast just as the USDM week ended. They generated widespread rain across the Southeast, with amounts exceeding 2 inches over western North Carolina to southwest Virginia, parts of Alabama to South Carolina, and parts of Florida. Wholesale contraction of D0 followed, along with trimming of some D1 and D2. But part of North Carolina missed out on the rain, so D2 expanded in the southern Coastal Plain.

South

A large part of Oklahoma and parts of Texas and Louisiana were inundated with several inches of rain, over 6 inches in places. Zapata County in southern Texas received about half a year of normal rainfall this week. Heavy rain in central and northern Oklahoma, and in the Texas panhandle, southern Texas, and southeast Texas, resulted in the contraction of abnormal dryness and moderate to exceptional drought. Abnormal dryness contracted in Arkansas, D0 and D1 contracted in Mississippi, and D0-D3 shrank in Louisiana. Other parts of the South region were dry. D2-D4 expanded in parts of central to northeast Texas, D0 expanded in Mississippi and Tennessee, and a spot of moderate drought was added in eastern Tennessee.

Midwest

Two inches or more of precipitation fell across southern portions of the Midwest in a band from Missouri to Ohio and across southeastern Minnesota into Wisconsin, while parts of Iowa and Minnesota received less than half an inch of rain. Abnormal dryness expanded in Kentucky and into southern Illinois where this week was drier than normal and precipitation deficits have been building over the last couple months.

High Plains

Two inches or more of precipitation fell across southern and eastern parts of Kansas, central Colorado, and northeast Nebraska, while half an inch or more was widespread across North Dakota. Parts of Nebraska, northeast Colorado, Wyoming, South Dakota, and eastern Montana received less than half an inch of precipitation. In Colorado, moderate to extreme drought contracted where it was wet, while severe and extreme drought expanded where it was dry. Abnormal dryness and moderate to extreme drought shrank in parts of Kansas. The rain ate a hole into severe drought in northeast Nebraska. Abnormal dryness and moderate drought were trimmed in western North Dakota. On the other hand, it was a dry week in western Wyoming with D3 expanding in Teton County.


West

Half of an inch or more of precipitation fell in the Coastal and Cascade ranges of the Pacific Northwest, and northern to central Rockies. But more southerly parts of the West, from southern Oregon to New Mexico, received no precipitation. Abnormal dryness to severe drought were trimmed in Washington, Oregon, Idaho, and Montana. Extreme drought shrank in southwest Montana, while exceptional drought was trimmed in Oregon. Some of the drought contraction was due to drought indicators showing slightly less severe conditions. In the drier areas of the West, D3-D4 expanded in New Mexico, D2-D3 expanded in Arizona, D3 spread in Utah and adjoining parts of Idaho and Wyoming, and D2 expanded in southern California with slight expansion of D4 from adjoining southern Nevada. Arms of exceptional drought were added to the San Joaquin Valley in California where the National Weather Service noted that dry conditions continue throughout the area; snow cover is virtually non-existent below 8,000 feet; peak flow through area rivers and inflow into the reservoirs has already occurred or will occur soon, weeks ahead of normal; and applications for grants for well drilling, purchasing tanks, and bottled water recipients are increasing. In southern California, the Coastal Fire broke out on May 11th in Orange County near Laguna Niguel. Windy conditions spread it rapidly upcanyon where it burned 200 acres, destroyed 20 homes, and damaged 12 others. Near-record dry fuels around the May 11th time frame set the stage for this fire.


Caribbean

Locally over 2 inches of rain fell over parts of western and northeastern Puerto Rico, mostly on the last day of this USDM week. But other parts of the island received considerably less rain, and even the rain that fell was mostly below normal for the week. D1 expanded in south central coastal areas of Puerto Rico where soil moisture is very dry and streamflow much below normal to record low.

Drier than normal conditions have continued across the U.S. Virgin Islands this week. On St. Thomas, only 0.76 inches of rain was reported at Cyril E. King Airport. Though a slight increase in the water level was observed on May 24 (due to recent rain), groundwater is still well below the normal water level. So, moderate short- and long-term drought conditions continued this week. St. John was also dry this week. Only 0.03 inches of rain at Windswept Beach was reported this week. Groundwater levels have also continued to recede this week. Thus, moderate short- and long-term drought conditions have continued. Similarly, St. Croix reported only 0.01 inches of rain this week, and groundwater levels continued to recede in the past few weeks so that it remained in extreme short- and long-term drought conditions.

Pacific

D0 expanded in southwest Alaska and a new area of D0 was added in south central Alaska where precipitation deficits have built over the last 2 months.

A late season low pressure system dropped rain over parts of Hawaii this week. One-category improvements in drought status were made on Kauai and Niihau, western and southern parts of Oahu, and northwest Molokai. On the other hand, Maui continued dry this week with D0 expanding along the east-facing slopes of the West Maui mountains.

This week, Pago Pago reported 0.92” of rain. Last week, 6.27 of rain was observed at Pago Pago. In addition, this week, Siufaga Ridge and Toa Ridge observations (both NPS in American Samoa) were 1.89” and 2.0”, respectively. However, because American Samoa had wet conditions last week, it remained free of dryness.

Wet conditions prevailed this week across the Republic of Palau. Palau IAP (Airai) and Koror COOP station reported 5.39 and 5.85 inches of rain, respectively. Thus, the area remained free of dryness.

Dry conditions continued across the Mariana Islands this week. This week’s report on Saipan shows rainfall amounts observed on IAP (manual gauge), ASOS, and NPS of 0.88, 0.98, and 0.79 inches, respectively. Drier than normal conditions were observed this month at Rota. In the past three weeks, less than an inch of rain was reported on Rota. Thus, Rota is degraded to abnormally dry.

Dry conditions for the last few weeks have continued in Guam. Only 0.78 inches of rain fell this week. Considering the local experts’ input (i.e., there is dew in the morning and grasses are a mix of brown with green patches; there were some spotty showers across the northern and southern half of the island with some sites around 3+ inches for the month to date), Guam remains abnormally dry for this week.

The Federated States of Micronesia, with the exception of Kapingamarangi, remained free of dryness this week. On Kapingamarangi, no rain was reported this week (with one day not accounted for). In addition, no rain has been observed in the past three weeks. The abrupt shift from good April rains to very dry conditions in the last several weeks resulted in continued deterioration to moderate drought conditions.

Wet conditions have continued at Pohnpei in the past few months. This week, 3.44 inches of rain was reported (with one day missing). On Pingelap, 2.72 inches of rain was reported this week with two days not accounted for, resulting in wet conditions. On Yap, only 1.43 inches of rain was reported (with one day missing). However, over 3 inches of rain fell on Yap in the past couple of weeks, leaving Yap in wet conditions. On Ulithi, only 0.91 inches of rain was reported this week (with one day missing). However, last week, 3.41 inches of rain was observed. This follows rainfall amounts totaling 24.33 inches, the wettest April on record (40 years). The rainfall reported at Woleai this week is 0.80 inches with two days missing. Since Woleai had wet conditions in the past four weeks (i.e., about 3 to 5 inches), it remained free of dryness. At Chuuk, only 1.43 inches of rain was observed this week with one day not yet accounted for. Last week, rainfall totaled only 1.31 inches. However, because of the wet conditions in April (i.e., 17.20 inches) and early May (9.61 and 4.26 inches of rain in the weeks of May 3 and May 10, respectively), Chuuk remained free of dryness. Lukunor, despite 1.72 inches of rain reported (with one day missing) this week, remains drought free following four very wet weeks. On Nukuoro, conditions remained wet this week, with 2.24 inches of rain (one day missing). Kosrae remained wet (3.31 inches of rain with one day missing) following a very wet March, April, and early May. No depiction was made for Fananu, as data from there are missing.

Drier than normal conditions were observed on Majuro, with only 0.92 inches of rain reported this week. Last week, only 1.07 inches of rain was reported. Even though previous months at Majuro were wet (e.g., 24.16 inches of rain fell in April), it was dry for the past four weeks and the reservoir levels were low. So, abnormally dry conditions have developed. On Wotje, 2.82 inches of rain was reported this week. Rainfall is above normal for the month of May so far, but it is climatologically dry. Thus, because of dry conditions in the past six weeks, severe drought conditions have remained.

On Ailinglapalap, 2.9 inches of rain fell this week, so drought-free conditions continued. Kwajalein reported 2.31 inches of rain this week and remained drought-free. Jaluit observed only 0.5 inches of rain this week, with one day missing. However, because Jaluit had a very wet couple of months (i.e., March and April had 23.6 and 11.87 inches of rain, respectively), it remained free of dry conditions. Mili received 3.69 inches this week and remained in wet conditions. No depiction was made for Utirik due to missing data.

Looking Ahead

A strong upper-level low pressure system slowly moved across the Plains during May 24 and 25, spreading heavy rain over the southern and central Plains to Lower and Mid-Mississippi Valley. This weather system, with its surface low and fronts, will move slowly eastward during the next several days. Another upper-level low pressure system will move from the Pacific Ocean into the western CONUS by Sunday. In addition to the 1+ inches of rain that has already fallen across the Plains to Mississippi Valley May 24-25, another 1 to 2 inches is expected from the Mississippi Valley to Appalachians and northward to the Great Lakes through May 31. An inch or more of precipitation is forecast for the Pacific Northwest to northern Plains and parts of the Interior Basin in association with the western weather system. Little to no precipitation is expected through May 31 for southern states in the West, and no additional precipitation is forecast for Texas and western portions of the southern High Plains. Warmer-than-normal temperatures are forecast for May 26-31 for the central to southern Plains ahead of the western weather system, while clouds and rain will keep high temperatures near to cooler than normal in the West and East. For May 31-June 4, odds favor above-normal precipitation in the Pacific Northwest, Great Plains, Southeast, and most of Alaska, but below-normal precipitation for the Midwest to Northeast and California to southern Nevada. Warmer-than-normal temperatures are likely for May 31-June 4 across most of Alaska and the eastern half of the CONUS, while odds favor cooler-than-normal temperatures from the Great Basin to northern Plains.




Monday, May 23, 2022

USDA Weekly Crop Progress Report - 72% of Corn, 50% of Soybeans Planted Week Ended May 22

OMAHA (DTN) -- U.S. farmers logged another productive week last week, pushing corn planting to near the three-fourths completion mark and soybean planting to the halfway point, USDA NASS said in its weekly Crop Progress report on Monday.

The gains came despite weather being a limiting factor to planting in some parts of the country.

"Two different storm systems brought widespread showers to the majority of the country last week," said DTN Ag Meteorologist John Baranick. "Heavy rain fell in North Dakota, while more fell from eastern Kansas through Missouri and Arkansas and just about all areas east of the Mississippi River. A mix of rain and snow fell in Colorado on Friday and Saturday, amounting to over a foot on the Palmer Divide. Other areas in the Western Corn Belt saw more spotty and streaky precipitation events over the week, which may have allowed for some better progress."

CORN

-- Planting progress: 72% nationwide as of Sunday, May 22, another substantial jump of 23 percentage points from 49% the previous week. That continued to push planting closer to the five-year average, now 7 percentage points behind the average of 79%.

-- Notable states: Farmers in the "I" states again made significant progress last week. Illinois' corn planting jumped ahead 23 percentage points to reach 78% complete as of Sunday and is now equal to the state's five-year average. Indiana moved ahead 24 percentage points to reach 64% complete, just 4 percentage points behind average. And Iowa jumped ahead 29 percentage points last week to reach 86%, now just 3 percentage points behind normal. Farmers in the Dakotas also were able to speed up field work, with planting in North Dakota moving ahead 16 percentage points to reach 20% complete, still 46 percentage points behind normal; and South Dakota advancing 31 percentage points to reach 62% complete, 9 percentage points behind normal.

-- Crop development: 39% of corn was emerged as of Sunday, up 25 percentage points from the previous week and 12 percentage points behind the five-year average of 51%.

SOYBEANS

-- Planting progress: 50% nationwide as of Sunday, up 20 percentage points from the previous week. That is now 5 percentage points behind the five-year average of 55%.

-- Notable states: The "I" states saw significant progress again last week. Illinois' soybean planting advanced 24 percentage points to reach 62% complete, 5 percentage points ahead of the state's five-year average of 57%. Indiana moved ahead 22 percentage points to reach 50% complete, just 3 percentage points behind the average of 53%. Iowa jumped ahead a whopping 35 percentage points to reach 69% complete, 2 points ahead of the average pace of 67%. Nebraska was also ahead of its average pace, at 72% complete as of Sunday compared to the state average of 69%.

-- Crop development: 21% of soybeans had emerged nationwide as of Sunday, 5 percentage points behind the five-year average of 26%.

WINTER WHEAT

-- Crop development progress: 63% of the winter wheat crop was headed nationwide as of Sunday, 2 percentage points behind the five-year average of 65%.

-- Notable states: Kansas' winter wheat was 86% headed as of Sunday, 6 percentage points ahead of the state's five-year average of 80%. Oklahoma's crop was 95% headed, just 1 percentage point behind the five-year average of 96%. Nebraska's winter wheat heading jumped to 27%, equal to average. Texas' crop was 92% headed, 4 percentage points behind the average of 96%. South Dakota's crop was just 1% headed compared to the average of 6%.

-- Crop condition: Nationwide, winter wheat was rated 28% good to excellent, up 1 percentage point from 27% the previous week. That's the lowest such rating since the drought of 1989, noted DTN Lead Analyst Todd Hultman.

A LOOK AT THE WEEK AHEAD

Farmers are in for another active weather week that could delay planting in some areas but open a brief window for planting in the Northern Plains, according to Baranick.

"There is a tropical low-pressure center in the Southeast, producing heavy rain Monday and Tuesday," he said. "And a larger system is exiting the Rockies into the Plains where heavy rain will fall for the Central and Southern Plains and all areas to the east. The system will be a slow mover, which should allow rainfall amounts to pile up and create planting delays.

"While some showers will fall in the Northern Plains on Monday, the rest of the workweek looks to be fairly dry. We could see conditions allow for more advanced planting in North Dakota and the surrounding areas to possibly make up for a lot of the large gap that has occurred. Unfortunately, the window will be short. Another system will move into the Northern Plains on Friday night and continue to produce scattered showers across the Midwest and Central Plains over the weekend and into next week."










Bureau of Reclamation, Pacific Northwest Region - Storage Reservoirs in the Upper Snake River (5/23)


Average daily streamflows indicated in cubic feet per second.
Reservoir levels current as of midnight on date indicated.

Upper Snake River system is at 57 % of capacity.
(Jackson Lake,Palisades, Grassy Lake,Island Park,Ririe,American Falls,LakeWalcott)
  
Total space available:1737877 AF
Total storage capacity:4045695 AF



Friday, May 20, 2022

Friday Market Watch

 LIVESTOCK:

While the cattle contracts kept with their descend through closing Friday, the lean hog complex opted to grow stronger as the day traded on. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.46 with a weighted average of $112.97 on 7,040 head.

From Friday to Friday, livestock futures scored the following changes: June live cattle off $0.50, August live cattle off $0.80; May feeder cattle off $4.47, August feeder cattle off $4.10; June lean hogs up $8.13, July lean hogs up $7.80. 

Friday's slaughter is estimated at 123,000 head, 3,000 head more than a week ago and 4,000 head more than a week ago. Saturday's slaughter is projected to be around 58,000 head, 16,000 head more than a week ago and 22,000 head less than a year ago. This week's slaughter is estimated at 680,000 head, 23,000 head more than a week ago and 8,000 head more than a year ago.

Boxed beef prices closed mixed: choice up $0.47 ($262.17) and select down $3.04 ($243.02) with a movement of 90 loads (41.68 loads of choice, 15.65 loads of select, 17.56 loads of trim and 14.75 loads of ground beef). Throughout the week choice cuts averaged $261.03 (up $4.08 from a week ago) and select cuts averaged $245.79 (up $2.61 from last week) and the week's total movement of cuts, grinds, and trim totaled 525 loads.

More: Friday Closing Livestock Market Update - Cattle Lower While Hogs Grow Stronger


GRAINS:

July corn closed down 4 1/2 cents and December corn was down 4 cents. July soybeans closed up 14 3/4 cents and November soybeans were up 7 1/4 cents. July KC wheat closed down 42 1/2 cents, July Chicago wheat was down 31 3/4 cents and September Minneapolis wheat was down 50 1/4 cents. 

For the week:

July corn closed down 2 1/2 cents and December corn was down 16 3/4 cents. July soybeans ended up 58 3/4 cents and November soybeans were up 23 1/2 cents. July KC wheat closed down 29 1/4 cents, July Chicago wheat was down 8 3/4 cents and September Minneapolis wheat was down 40 cents.


DAIRY:

MILK

Milk futures put in a positive week, closing higher than the end of last week. What is interesting about it is that Class III futures were not really supported by underlying cash. However, Class IV futures were, due to strong gains of underlying cash. This may not make sense unless you understand that cheese and dry whey drive the Class III price with a little help from butter. Butter and nonfat dry milk are the drivers of Class IV milk. More schools will be winding down next week, continuing to move more milk to manufacturing. This will not overwhelm the market as milk production is currently below year-ago levels. Where it could be overwhelming would be due to the lack of a full workforce in many plants limiting the amount of milk they can process. This has been an ongoing issue. The result of this may be an increase in the amount of milk that might be offered on the spot market. Dairy cattle slaughter for the month of April totaled 237,800 head, a decrease of 59,400 head from March and a decrease of 19,700 head from April 2021. In fact, this is the largest decrease in slaughter from March to April going back through 1994 when I began tracking the numbers. The second-largest decline was in 2000 with a decrease of 57,000 head. This is the smallest monthly slaughter since June 2021.

AVERAGE CLASS III PRICES

3 Month: $24.74
6 Month: $24.29
9 Month: $23.68
12 Month: $22.91

CHEESE

For the week, blocks increased 7.25 cents will six loads traded. Barrels declined 4.75 cents with 21 loads traded. Dry whey declined 2.50 cents with 21 loads traded. The increase of block cheese price was offset by the decrease of both barrels and dry whey, which, in theory, should have left the market neutral with little change from last week in Class III futures. However, the focus of traders was the fact that block cheese increased and held throughout the week.

BUTTER

For the week, butter increased 14.50 cents with 37 loads traded. Grade A nonfat dry milk increased 7 cents with six loads traded. Price ended the week just shy of the level reached on Feb. 15. Price is heading toward the highest price of the year set on Jan. 21 at $2.9350, 8.50 cents higher than the close Friday. Price has increased five consecutive days and may be due for a price correction soon.

More: Friday Closing Dairy Market Update - Cattle Slaughter Falls


LATEST HAY PRICES:

Forage Fodder


OUTSIDE MARKETS:

The June U.S. Dollar Index is trading up 0.51 at 103.27. June gold is down $0.80 at $1,840.40, July silver is down $0.27 at $21.64 and July copper is down $0.0125. July crude oil gained $0.39, closing at $110.28. The Dow gained 9 points, closing at 31,262, while the NASDAQ declined 34 points, closing at 11,355. July heating oil is down $0.0445, July RBOB gasoline is up $0.0060 and July natural gas is down $0.222.




Thursday, May 19, 2022

This Week's Drought Summary (5/19)

In the upper levels of the atmosphere, a strong ridge of high pressure dominated the contiguous U.S. (CONUS), from the southern Plains to Northeast, at the beginning of this U.S. Drought Monitor (USDM) week, while an upper-level trough dominated the West. The trough moved east as the week progressed, dragging a surface low pressure system and cold fronts across the northern Plains to Great Lakes, while another upper-level low moved over the Southeast and weakened. Weekly temperatures averaged much warmer than normal beneath the ridge and cooler than normal in the West beneath the trough. The fronts, lows, and upper-level troughs brought above-normal precipitation to parts of the Pacific Northwest, northern Plains to western Great Lakes, and spotty areas in the South, New England, and along the Atlantic Coast. The week was drier than normal across the rest of the CONUS. The continued lack of precipitation further dried soils, lowered stream levels, and stressed crops and other vegetation, while the excessively warm temperatures increased evapotranspiration and added to the stress. Drought or abnormal dryness contracted where precipitation was above normal, especially in the Northwest, northern Plains, and Mid-Atlantic. Drought or abnormal dryness expanded or intensified where it continued dry, especially in the Southwest, southern to central Plains, Southeast, and parts of the Northeast.


Northeast

Half an inch or more of precipitation fell across a large part of the Northeast, with locally 2 inches in parts of northern New York, in Vermont and New Hampshire, and in the Delmarva. But coastal New England and parts of western New York received less than half an inch. Abnormal dryness contracted in the Delmarva but was added in western New York and expanded along the New England coast based on low streamflows, drying soils, and low precipitation for the last 3 months.

Southeast

An upper-level low moved in a retrograde motion from the Atlantic Ocean onto the southeast U.S. this week. It spread showers into the region, with 2 inches or more of rain observed along parts of the Virginia and North Carolina coast and in Florida. But the weather system weakened as it moved inland, with rain becoming spotty and less intense. Some areas received half of an inch or more, but most areas received little to no rain, especially northern portions of Georgia and Alabama. The dryness of the last 1 to 2 months has dried soils and was reflected in the Lawn and Garden Moisture Index, which revealed widespread and intense dryness across the region, from Alabama to western North Carolina. On the USDM map, abnormal dryness expanded across northern Alabama to western North Carolina, and pockets of moderate to severe drought expanded in coastal parts of the Carolinas and Georgia. The heavier rains along the coast contracted abnormal dryness and moderate drought in parts of Virginia and North Carolina, and severe drought contracted in southern Florida. According to May 15 statistics from the U.S. Department of Agriculture (USDA), 62% of the topsoil moisture in Georgia and South Carolina was short or very short (dry or very dry), 42% was short or very short in Florida, and 39% so rated in Alabama.

South

All of the states in the South region had areas of rain with amounts of half an inch or more, but large areas also received no rain. Temperatures were persistently hot throughout the week, increasing evapotranspiration, further drying soils, and stressing crops and vegetation. On May 15, Abilene, Texas recorded 8 days in May with 100-degree-F temperatures. This set a new record for the highest number of days in May with 100 degree temperatures. The previous highest number of days for Abilene was 7 days, set in 2000 and in 1927. Recent dryness is compounding long-term dryness, especially in western parts of the region. By some measures, Culberson County in Texas had the driest September-April on record and second driest December-April, and that is not counting the dryness so far in May. Corpus Christi, Texas recorded the third driest February-May to date out of 136 years of record. According to USDA statistics, 86% of the topsoil moisture in Texas was short or very short, and 53% was short or very short in Oklahoma and Louisiana; 74% of the pasture and rangeland was in poor or very poor condition in Texas; and 81% of the winter wheat in Texas and 52% in Oklahoma was in poor or very poor condition. Drought or abnormal dryness contracted in the few areas in Texas and Oklahoma where more than an inch of rain fell on Dx areas. But abnormal dryness and moderate to exceptional drought expanded in many more areas of Texas. Abnormal dryness and moderate to extreme drought expanded in southwest Louisiana, and abnormal dryness grew in Tennessee.

Midwest

A large swath of Minnesota received 2 or more inches of rain, with locally up to 5 inches, and 2 inches or more fell over northern parts of Wisconsin and Michigan. Up to half of an inch fell over parts of the other states in the region, but much of Iowa and parts of southern Wisconsin and Illinois received little rain. The rain removed the abnormal dryness that was in northeast Minnesota. Parts of the Ohio Valley have been dry for the last 1 to 2 months, but on-the-ground conditions do not support the introduction of D0 at this time; streamflows, soil moisture, surface water supplies, and vegetation are in good condition, and the dry weather is providing optimal conditions for agricultural interests to work the fields.

High Plains

Northern and eastern parts of the High Plains were wet this week while western and southern parts were dry. Two inches to locally over 4 inches of precipitation fell over parts of North Dakota and eastern Montana, and half an inch or more was widespread over the Dakotas, northern Wyoming, and eastern parts of Nebraska and Kansas. But most of Colorado received no precipitation this week and very little occurred over southern Wyoming and western parts of Nebraska and Kansas. Moderate to exceptional drought expanded in Colorado, extreme to exceptional drought expanded in Kansas, extreme drought expanded in Nebraska, and abnormal dryness expanded in western Montana. To the north, abnormal dryness and moderate to severe drought contracted in North Dakota, eastern Montana, and northern Wyoming. Severe to extreme drought expanded in Meade County, South Dakota, to reflect impacts and moisture conditions that included low or no surface water, very short pasture and range conditions, and general poor vegetation. The widespread D3 degradations through southeast Colorado and into the San Luis Valley were a result of very dry and windy conditions over the last few months. According to USDA statistics, in Colorado, 52% of the pasture and rangeland and 45% of the winter wheat were in poor to very poor condition, and 41% of winter wheat in Kansas was in poor or very poor condition, with the statistics 77% for pasture and rangeland in Montana, 49% for pasture and rangeland in Wyoming, 44% for pasture and rangeland in South Dakota, and 41% for pasture and rangeland in Nebraska. The USDA statistics show 60% of Colorado’s topsoil short or very short of moisture, 73% for Montana, 58% for Wyoming, 51% for Kansas, and 37% for Nebraska.


West

Pacific weather systems brought 2 or more inches of precipitation to the coastal ranges and windward portions of the Cascades in Oregon and Washington, with half an inch or more from northeast Oregon to northern Idaho and in eastern Montana. Less than half an inch fell in other parts of the Pacific Northwest and northern Rockies. Little to no precipitation occurred across the southern states in the West region, from California to New Mexico. Weekly temperatures averaged cooler than normal except in the Four Corners states. The hot temperatures in New Mexico continued to increase evapotranspiration and dry soils. The Calf Canyon/Hermits Peak fire exceeded 298,000 acres burned, becoming the largest wildfire in modern New Mexico history. Moderate to exceptional drought expanded in New Mexico; extreme drought expanded in Utah; moderate to extreme drought expanded in Arizona; and exceptional drought from Nevada crept southward into northwest Arizona. Further north, extreme drought was removed from Washington, while abnormal dryness and moderate to exceptional drought contracted in Oregon. The precipitation of recent months in the Pacific Northwest has helped refill some reservoirs, especially the smaller ones. But larger ones remain depleted, including Oregon’s Crescent Lake reservoir, which is 12% full, Prineville (32%), Phillips (13%), Warm Springs (18%), Owyhee (46%), Howard Prairie (16%), Emigrant (26%), and Hyatt (20%). According to USDA statistics, 89% of the topsoil moisture was short or very short in New Mexico, 47% in Utah, and 40% in Nevada, and 51% of the pasture and rangeland was in poor or very poor condition in New Mexico.


Caribbean

Low streamflow, low soil moisture, and dry conditions for the last 1-3 months, plus an increase in grass fires, prompted expansion of abnormal dryness and moderate drought in Puerto Rico.

The U.S. Virgin Islands remained on the dry side for another week. St. Croix only received 0.18 inches of rain this week, and groundwater levels continued to recede in the past few weeks, resulting in extreme short- and long-term drought. On St. Thomas, only 0.04 inches of rain was reported at Cyril E. King Airport, and groundwater continued to recede this week. Long-term abnormal dryness continued as long-term precipitation deficits continued. Moderate short- and long-term drought prevailed this week. St. John was similarly dry this week. Only 0.19 inches of rain at Windswept Beach was observed this week, and groundwater levels continued to slowly drop in the past few weeks. This resulted in moderate short- and long-term drought conditions over the island.

Pacific

Abnormal dryness continued in southwest Alaska. The last 1 to 2 months have been drier than normal across the southern Alaska coast, but snowpack was mostly near to above normal, so no change was made to the USDM status in Alaska.

Trade wind conditions and stable conditions aloft were responsible for the dry week in Hawaii. The dry week gave residents on the windward side of the islands a reprieve from recent wet weather. Abnormal dryness was expanded eastward to cover the southeast quadrant of Kauai as far as Lihue. On the windward side of the Big Island, moderate drought was pulled back a bit to reflect improving pasture conditions.

American Samoa was on the wet side compared to last week and remained free of dryness, leaving the islands in good standing. Pago Pago received 6.27 inches, Siufaga Ridge reported 7.98 inches, and Toa Ridge received 5.41 inches.

Rainfall for the Republic of Palau was normal, with Palau IAP receiving 3.26 inches and Koror COOP reporting 4.93 inches for the week. The area remained free of dryness.

The Mariana Islands were on the dry side for the past three weeks. Decent rains have been confined to a small part of western Guam due to gentler trades triggering some island-effect showers. Grasses are drying up again but no impacts have been reported. Despite the March and April wet conditions, drier conditions prevailed at Saipan in the past three weeks, with precipitation ranging from 0.14 to 0.4 inches. This week, Saipan received 0.26 inches of rain (with 1 day missing), while the ASOS and NPS reported only 0.31 and 0.26 inches, respectively. Dry conditions for the last few weeks have continued on Guam, where only 0.19 inches of rain was reported (with two days missing). This deterioration resulted an abnormally dry condition on Guam and Saipan. Drier conditions also occurred on Rota this week, with 0.47 inches of rain being reported (with two days missing). However, abnormally conditions have not yet developed on Rota.

The Federated States of Micronesia remained free of drought and abnormal dryness this week at most locations for which depictions were made. However, drier conditions (less than 2 inches) were observed on Kapingamarangi in the past 5 out of 6 weeks, with no rainfall reported last week and this week (with 2 days missing). Thus, abnormal dryness has developed on Kapingamarangi. On Pingelap, less than 2 inches of rain was reported in the past two weeks (only 0.88” rain was observed last week with no missing days and 1.7 inches this week with 2 days missing. However, abnormal dryness has not yet developed on Pingelap. On Yap, wet recent weather continued as 3.3 inches of rain fell this week (with 3 days missing). In Ulithi, despite the drier conditions observed in the past two weeks, 2.48” of rain was reported this week (with 3 days msg). About 4.42 inches of rain was reported on Woleai this week (with 3 days missing). No depiction was made for Fananu, as data from there are missing. At Chuuk, 0.98 inches of rain was reported this week (with 3 days missing). However, with wet conditions in the past 3 weeks, Chuuk remained free of dryness. Lukunor, despite 0.34 inches of rain reported (with 3 days missing) this week, remains drought free following very wet 4 weeks. On Nukuoro, conditions remained wet this week, with 4.43 inches of rain. Pohnpei received 2.35 inches of rain this week, continuing wet recent weather. Despite 0.59 inches of rain reported (with 4 days missing), Kosrae remained wet following the very wet March, April, and early May.

The Marshall Islands were mostly wet for the week, apart from Wotje, which received 0.95 inches of rain this week (with 2 days missing). Less than 2” of rain was also observed at Wotje in the past two weeks, and severe short- and long-term drought continued this week. On Ailinglapalap, 0.48 inches of rain was reported this week (with 2 days missing), following 2.98 inches last week, so drought-free conditions continued. Kwajalein reported 0.48 inches of rain this week (with 2 days yet to be accounted for), following very wet conditions (3.56 inches of rain) last week, and remained drought-free. Jaluit observed 1.09 inches of rain this week, with 3 days missing. However, because Jaluit had a very wet couple of months (i.e., March and April had 23.6 and 11.87 inches of rain, respectively), it remained free of dry conditions. Majuro reported 1.07 inches of rain this week (with 2 days missing). Despite Majuro having two consecutive dry weeks in May, it received more than 24 inches in April, so it remained free of dryness. Mili received 5.33 inches this week and remained in wet conditions.

Looking Ahead

The upper-level circulation will continue to bring Pacific weather systems across the CONUS during the next USDM week. Temperatures are forecast to be below normal from the Pacific Northwest to Great Lakes and southward into the central Plains. An eastern ridge will keep temperatures warmer than normal along the East Coast. An inch or more of precipitation is predicted to fall through Tuesday morning for some of the mountains of the Pacific Northwest and central to northern Rockies. An inch or more is expected from the southern Plains to Great Lakes and eastward to the East Coast, but some areas along the East Coast will have less than an inch and some areas from the Lower Mississippi Valley to Ohio Valley, as well as much of Florida, can expect 2 or more inches. Most of the Great Plains will see less than half of an inch of rain. Much of the Southwest, from California to New Mexico and including parts of the Pacific Northwest, will receive little to no precipitation. For the period May 24-28, odds favor above-normal temperatures for the Southwest, Deep South, East Coast, and southwest Alaska, and below-normal temperatures in Washington, the Upper Mississippi Valley, and eastern Alaska. Odds favor below-normal precipitation from California to the western portions of the central and southern Plains, as well as western Alaska, while above-normal precipitation is likely in Washington, east-central Alaska, eastern portions of the southern Plains, and from the Mississippi Valley to East Coast.




This Week's Drought Summary (5/2)

During the late week and weekend, a large severe weather outbreak brought large hail, damaging winds and numerous intense tornadoes to parts...