Some Adjustments to the World Ag Supply Numbers

Some Adjustments to the World Ag Supply Numbers. I'm Greg Martin with Colorado Ag Today.

The National Agricultural Statistics Service forecasts of the monthly World Agricultural Supply and Demand Estimates did not shake things up a lot although there were some adjustments made. Projected U.S. wheat supplies for 2015/16 are raised this month on both increased beginning stocks and larger winter wheat production. Beginning stocks are higher with a 5-million-bushel reduction in 2014/15 exports partly offset by a 2-million-bushel reduction in imports. The outlook for 2015/16 U.S. feed grain supplies is raised slightly this month with increases in corn and oats beginning stocks outweighing a decline for barley. According to Rob Johansson, acting USDA Chief Economist said this was a fairly quiet report while another report later in the moth should have some more compelling data.

JOHANSSON: We're looking forward to quite a bit of new data coming to us that we can take advantage of as we put together our forecast.

The forecast for total meat production in 2015 is lower than last month, but higher for 2016. Beef production for 2015 is lowered as fed cattle slaughter in the second quarter is reduced and cow and bull slaughter is expected lower during the year. However, placements of cattle in late 2015 are expected to be higher as forage supplies in much of the country have improved and the slaughter of these cattle in 2016 supports an increase in the 2016 production forecast.

And that's Colorado Ag Today. I'm Greg Martin, thanks for listening on the Ag Information Network of the West.