Daily News Reports »

Bob Larson Conaway Optimistic and WASDE Milk Forecast
by Bob Larson, click here for bio

Program: The Agribusiness Update
Date: March 18, 2019

Click on the play button to listen to report.

Download Report: Conaway_Optimistic_and_WASDE_Milk_Forecast.mp3

From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**House Ag Committee Ranking Member Mike Conaway is feeling positive following President Trump’s Fiscal Year 2020 budget proposal.

In a written statement, Conaway said the president knows the farm safety net accounts for less than a quarter of one percent, so when the chips are down, we must keep our promise to farmers and ranchers made under the five-year farm bill, and I expect the president is onboard.

He says the biggest danger facing them right now is the politics being played by Democrats on passage of the USMCA.

**In their March World Agriculture Supply and Demand Estimates report, USDA decreased milk production forecasts and that bumped up milk prices.

USDA cites the reduction in the national dairy herd as the justification for the lowered milk production forecast.

The agency’s Class III price forecast is raised as the higher cheese price projection more than offsets the lower whey price.

The all milk price forecast is raised to average $17.00 to $17.60 per hundred weight.

https://www.milkbusiness.com/article/wasde-usda-lowers-milk-production-forecast-pushes-milk-prices-higher?mkt/

**We’re finally getting to see 2018 total beef export numbers delayed by the government shutdown and it’s an eye opener. The U.S. Meat Export Federation reports beef exports shattered the previous record, hitting a new high for volume at 1.35 million metric tons. That's up 7% from 2017, to a record $8.33 billion dollars.

USMEF says the numbers were fueled by demand in South Korea, Japan, and Taiwan.

https://www.agweb.com/article/2018-was-one-for-the-record-books-when-it-comes-to-beef/?mkt/

Recent Reports from The Agribusiness Update

Click here to see Archived Reports