11-18 NWR Beef Prices

This is your Northwest report for Friday, November 18, I'm David Sparks and prospects for cattle prices look a little worse next year as beef production prospects increase. Agriculture department board chairman Seth Meyers says they've upped the estimate for this year's beef production by 88 million pounds taking it up to just over 25 billion pounds. " That's our observed pace today. The numbers we are seeing going into slaughter but we are also seeing slaughter weights a little higher. That is given us a little more production in 2016". But a lot more production in 2017. "On higher-than-expected placements in late 2016 carrying into 2017 so those placements in late 2016 become production in 2017." So that production will outpace this year by over 1,000,000,000 pounds or 4.4% at 26.1 billion pounds. "Bigger supplies are having a pretty negative effect on prices in 2017, we anticipate so we trimmed 2017 prices $10 to 106." This year's average steer price, just under 120, lately, though, just lower than that.

Elsewhere, agri-pulse.com's Jodi Delapaz reports the Bureau of Land Management (BLM) has finalized a new rule governing solar and wind energy development on public lands, drawing criticism from the wind energy industry but praise from some conservation groups.

The Interior Department, which oversees BLM, says the rule will support renewable energy development through competitive leasing processes and create incentives to encourage development in "suitable areas."