Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 6/21/2019
CORN, SOYBEAN PLANTINGS MOVE TOWARDS COMPLETION

       Two weeks ago, this publication highlighted the slow pace of planting progress this spring due to abnormally high precipitation across the Midwest and colder than normal weather in the upper western sections of the Cornbelt. At that time (June 2), only 67% of the corn crop had been planted compared to the 5 year (2014-2018) average for that week of 96%. In the case of soybeans, 39% of the crop had been planted versus a norm of 79%.


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CANADIAN DROUGHT UPDATE

     The LMIC reached out to its Canadian members this week for context to the dryness that has overtaken the western part of Canada. Across the region, soil moisture deficits were stark from a very dry May, but June has shown some promise for cropland with rainfall and forecasted precipitation expected to continue. Manitoba shows the most dramatic early impacts on cattle producers with some early liquidation in areas with the severe drought.  These impacts are not limited to simply dry conditions. Similar to the U.S., forage carryover was very low.


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GRAIN FED BISON CUTS UP, CARCASS PRICE DOWN

            Grain fed wholesale fresh bison meat prices were above a year ago for the most part in May, according tp the USDA-AMS monthly summary report. Fresh ribeyes were up 14%, strip loins were up 20%, top sirloin gained 36%, and tenderloins increased 11% compared to a year ago. Whole muscle cut prices appear to be doing quite well this year, but carcass prices have fallen off. On a hot carcass basis, grain fed bison carcasses were below a year ago across all classes. Aged cows took the biggest hit, down 11% in the month of May.


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