Farm Income Predicted to Increase and Cattle #'s Up In Feedlots

Farm Income Predicted to Increase and Cattle #'s Up In Feedlots

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

**BASF officials worked with Missouri on that state's newly released regulations for use of the company's dicamba product next year and say they are working with all other states where it will be used.

Vice President Scott Kay tells Brownfield, that volatility of the product is NOT one of the causes of off-target movement. Weed scientists, however, disagree.

BASF worked with the EPA for an updated Engenia label for the next growing season and says it will expand its application training program.

**An associate professor with Ohio State University says farm income is expected to increase this year for the first time in four years.

Ani Katchova says there are many reasons for the forecasted increase, including the stabilization of commodity prices which is promising for inventory sales.

She tells Brownfield farm assets and equity is also expected to improve.

Katchova says more good news for the industry is that farmland values appear to be holding steady.

**The number of cattle in U.S. feedlots continues to grow.

The USDA says during October, placements into feedlots were up 10% from a year ago at 2.393 million head, supported by mostly higher cash prices last month and cheaper feed costs.

According to Brownfield, October marketings and the total number of cattle on feed on November 1st were both 6% above a year ago.

The numbers look at least slightly negative for cash and futures business.

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