Reuters – Pilgrim’s Pride, one of the biggest U.S. chicken companies, underestimated meat production at the end of last year, Chief Executive Fabio Sandri said after the company reported a surprise quarterly loss. The company, owned mostly by meatpacker JBS, joined rival Tyson Foods in misjudging that lower beef and pork supplies would increase demand
Pilgrim’s Pride underestimated U.S. meat supplies, hurting earnings
U.S. gives farmers shorter window to spray dicamba
Move makes life difficult for growers who’ve already booked inputs
Reuters – The U.S. Environmental Protection Agency has slightly shortened the window for farmers in major soybean-producing states to use a weedkiller criticized for drifting away from where it is sprayed. The restrictions make it harder for farmers to use dicamba, sold by agrichemical companies like Bayer AG and Syngenta, after some growers have already
U.S. grains: Corn, wheat hit multi-week lows on export concerns
Hopes for Black Sea export deal pressure CBOT grains
Chicago | Reuters — Chicago Board of Trade corn futures set a six-week low on Friday while wheat hit its lowest level in more than four weeks on concern over competition for global export business, analysts said. Technical selling helped fuel the sell-off, along with prospects for robust 2023 corn production in the U.S. and
U.S. livestock: CME live cattle consolidate after hitting new contract high
Chicago lean hogs end lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures consolidated on Friday after setting a string on contract highs recently, while lean hog futures eased. The cattle market looks ripe for a correction after futures rose this month on tightening U.S. supplies, brokers said. However, cattle inventories look even smaller than expected as ranchers
U.S. livestock: CME cattle set high on Brazil halting beef exports to China
April hogs close lower, June up
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures reached a contract high on Thursday amid hopes that Chinese importers will buy more U.S. beef after rival supplier Brazil suspended shipments to China, analysts said. Brazil said it would halt beef exports to China, the main destination for its overseas shipments, after confirming a
U.S. grains: Corn futures hit six-week low on projected plantings
Corn, soy, wheat prices to drop from 2022, USDA predicts
Chicago | Reuters — Chicago Board of Trade corn futures hit a six-week low on Thursday as the U.S. government projected farmers will plant more acres this year and prices will decline, analysts said. The U.S. Department of Agriculture, at its annual Agricultural Outlook Forum, pegged 2023 corn plantings at 91 million acres, up from
Tyson Foods ‘hit in the mouth’ on meat supplies, CEO says
Reuters – Tyson Foods took a “hit in the mouth” as larger-than-expected beef and pork supplies weakened demand for its chicken, executives said February 6, as the meatpacker missed Wall Street estimates for quarterly profit. The company’s primary markets — beef, pork and chicken — went the opposite direction from what executives had planned and
U.S. beef cow herd falls to lowest level since 1962, USDA says
Last year saw record cull, Rabobank reports
Chicago | Reuters — The U.S. beef cow herd dropped to its lowest level since 1962, U.S. Department of Agriculture data showed on Tuesday, after a severe drought raised costs for livestock feed. Ranchers increasingly sent cows to slaughter last year, instead of keeping them to reproduce, as dry weather reduced the amount of pasture
The dawn of hybrid wheat
U.S. farmers gain access to new technology as war, climate threaten global food supplies
Global seed maker Syngenta plans to release a new type of wheat developed with complex cross-breeding techniques in the United States next year, beating out rival companies that are also trying to develop higher yielding wheat at a time of diminishing global grain supplies. The hybrid wheat, which combines positive traits from two parent plants,
How hybrid wheat could lead to more food without GMO fears
Reuters – American farmers are gaining access to a new type of wheat developed by agrichemical giant Syngenta without genetic engineering, as the world’s biggest seed companies seek to boost yields amid dwindling supplies of grain. Chinese-owned Syngenta is releasing hybrid wheat on 5,000 to 7,000 acres next year, a fraction of total U.S. plantings,