1. No category

Tennessee Market Highlights
Trends for the Week
Compared to a Week Ago
Slaughter Cows
Steady to $2 higher
Slaughter Bulls
$2 to $3 higher
Feeder Steers
Steady to $3 higher
Feeder Heifers
$2 to $4 lower
Feeder Cattle Index
Wednesday’s index: 240.38
Fed Cattle
The 5-area live price of $167.53 is up
$0.66. The dressed price is up $0.87
at $261.13.
Corn
December closed at $3.81 a bushel,
up 14 cents a bushel since last Friday.
Soybeans
January closed at $10.22 a bushel,
down 14 cents a bushel since last
Friday.
Wheat
December closed at $5.60 a bushel,
up 46 cents a bushel since last Friday.
Cotton
December closed at 59.8 cents per
lb, down 4.16 cents per lb since last
Friday.
November 14, 2014
Number: 46
Livestock Comments by Dr. Andrew P. Griffith
FED CATTLE: Fed cattle traded $3 higher on
a live basis compared to a week ago. Prices
were mainly $170 to $171 on a live basis
while dressed trade ranged from $264 to
$265. The 5-area weighted average prices
thru Thursday were $167.53 live, up $0.66
from last week and $262.00 dressed, up
$0.87 from a week ago. A year ago prices
were $130.85 live and $205.00 dressed.
Cattle feeders continue to pull rabbits out
of the hat as they find ways to push live
cattle prices higher. As soon as one might
think prices will break and soften or at a
minimum be steady with a weak ago, feedlot managers are able to squeeze a couple
more dollars out of packers. The ability to
squeeze a few more dollars out of packers
has resulted in steady to stronger margins
for the feedlot industry, but has pressured
the packing industry into red ink on the
bottom line. How long feeders can continue
to rule over the packer is unknown because
the seasonal leverage shift that normally
occurs has been anything but normal, and it
has been one sided for the most part.
BEEF CUTOUT: At midday Friday, the
Choice cutout was $252.87 up $1.52 from
Thursday and up $3.71 from last Friday. The
Select cutout was $238.35 down $0.58
from Thursday and down $0.09 from last
Friday. The Choice Select spread was
$14.52 compared to $10.71 a week ago.
The market continues to give the packing
industry fits. Though gains were made in
the Choice cutout, packers are finding it
difficult to move product at higher prices.
Seasonality is playing into the uptick in
Choice beef prices as retailers are gearing
up for holiday beef sales as is somewhat
represented in the widening of the Choice
Select spread. However, packers are pressured on the front end purchase of live
cattle as feedlot managers continue to hold
steadfast for higher money. Packers are
showing resistance to paying higher prices,
but they have orders to fill and feedlot
managers are willing to feed cattle a little
longer if the price is not satisfactory. The
packer has little to no leverage in the marketplace, and there is no indication of the
leverage shifting from the feeder at this
time since cattle numbers are tight. The
Choice cutout is expected to press forward
and be supported by holiday purchases.
However, as soon as holiday purchases
wrap up then the Choice cutout could come
under serious pressure.
TENNESSEE AUCTIONS: On Tennessee auctions this week compared to a week ago
steers and bulls were mostly steady to $3
higher. Heifers were $2 to $4 lower. Slaughter cows were steady to $2 higher while
bulls were $1 to $3 higher. Average receipts
per sale were 905 head on 12 sales compared to 883 head on 12 sales last week
and 964 head on 11 sales last year.
OUTLOOK: Cattle producers are actively
weaning calves and hauling them to town.
Many of these calves are green and will be
high risk especially with the large swings in
temperature. Stocker producers and feedlot operators are willing to pay higher prices for low risk cattle that have been
weaned and have some health management behind them. It could pay cow-calf
producers to consider adding value to
calves by weaning and providing clostridial
and respiratory vaccinations. Additionally,
some producers may need to defer income
into the next year and alternative management strategies may provide that opportunity. Producers are encouraged to evaluate different marketing strategies provided
the available resources. For instance, depending on forage availability and current
year income, producers may find it advantageous to market some calves now and
some after the first of the year. An example
may be for a producer to market heavier
steers before the end of the year and continue to grow lighter weight calves and
market at a later date. Additionally, the
(Continued on page 2)
Livestock Comments by Dr. Andrew Griffith
The RSI is 65.70. April live cattle closed at $169.30. Support is at
$169.00, then $168.23. Resistance is at $169.40, then $169.41.
The RSI is 66.39. November feeders closed at $239.35. Support
is at $238.98, then $238.36. Resistance is at $239.61 then
$240.23. The RSI is 61.05. January feeders closed at $234.23.
Support is at $233.44, then $231.69. Resistance is at $235.19
then $236.94. The RSI is 62.98. March feeders closed at
$232.83. Support is at $232.80, then $231.80. Resistance is at
$232.85, then $234.28. The RSI is 64.54. Friday’s closing prices
were as follows: Live/fed cattle –December $170.20 +0.55; February $171.28 +0.25; April $169.25 -0.05; Feeder cattle - November $240.00 +0.65; January $236.13 +1.90; March $234.60
+1.78; April $234.80 +1.25; December corn closed at $3.82
down $0.05 from Thursday.
(Continued from page 1)
correct decision may be to market all of the steers now and
continue to grow heifers until a later marketing date. This is not
an exhaustive list of alternatives, but they are a couple of alternatives worth considering to maximize the total value to the
operation. There are few if any signs of weakness in the calf
and feeder cattle markets. The only market factor working negatively against feeder cattle is the uptick in corn prices the past
couple of months. However, the increase in grain prices has not
seemed to have as large of a negative impact as in years past.
There are too many factors supporting the anticipated short
supply of cattle and beef for feed prices alone to override the
steady feeder cattle market. Market prices continue to encourage increased management of calves before entering a feedlot
and this increased management will either take place on the
cow-calf operation or stocker producers will look to capitalize
on mismanaged calves. Regardless, feedlots are hesitant to
take the risk on $1,800 to $1,900 per head animals.
Milk Futures
Month
Nov
Dec
Jan
Feb
Mar
TECHNICALLY SPEAKING: Based on Thursday’s closing prices,
December live cattle closed at $169.65. Support is at $168.56,
then $166.71. Resistance is at $170.41 then $172.26. The RSI is
62.85. February live cattle closed at $171.02. Support is at
$170.16, then $168.78. Resistance is at $171.53, then $172.91.
Average Daily Slaughter
Cattle
Hogs
Thursday November 10, 2014
Class III Close Class IV Close
21.61
17.69
18.70
16.40
17.50
16.19
16.74
15.68
16.63
15.20
USDA Box Beef Cutout Value
Choice 1-3
600-900 lbs
———— Number of head ————
This week (4 days)
108,750
Last week (4 days)
111,250
Year ago (4 days)
117,000
This week as percentage of
Week ago (%)
98%
Year ago (%)
93%
417,750
430,000
422,000
Select 1-3
600-900 lbs
———————— $/cwt —-———————
Thursday
Last Week
Year ago
Change from week ago
Change from year ago
97%
99%
251.35
250.52
203.01
+0.83
+48.34
238.93
237.25
188.49
+1.68
+50.44
Crop Comments by Dr. Aaron Smith
Overview
Corn and wheat were up; cotton and soybeans were down for the week.
Estimated domestic corn yields were dropped 0.8 bpa to 173.4 bpa in the
latest USDA-WASDE report surprising many analysts, as most thought that
the USDA would increase corn yields. At this point, minor revisions to corn
yield will not substantially change the estimated 2 billion bushel carryover
into the next marketing year. As such, there is limited upside in corn futures prices for this marketing year, until new information is
revealed. This week soybean futures closed down slightly from last week (January soybean futures closed 14 cents lower than last
Friday’s close). However the past week had a great deal of price volatility. For the January futures contract we saw daily trading
ranges of 36 ¼ (Monday), 53 ¼ (Tuesday), and 42 cents (Wednesday). To put this in context for those that are not familiar with
soybean futures contacts, a 53 cent change in price for one contract of soybeans is $2,650 (5,000 bu x $0.53/bu) or roughly 5% of
the total contract value in one day. This price volatility can be partially attributed to the battle between greater than anticipated
year-to-date demand (exports, crush, soybean meal etc.) and record supply (both domestic and potentially South American). So
far, soybeans have managed to maintain an upward trend since the beginning of October, however it is likely that soybean futures
markets will reverse course due to two reasons: i) the pent up demand (US soybean ending stocks for 2013/14 marketing year
were estimated at a record low 92 million bushels) for soybeans/soybean meal will eventually be satisfied from record production
2
Crop Comments by Dr. Aaron Smith
and ii) producers will face additional pressure to sell soybeans in storage as we enter the new year. Producers with unpriced soybeans in storage should strongly consider establishing a price. Additionally, those planning on planting soybeans this spring should
consider the options available to them for pricing some of their estimated 2015 production. December cotton futures established
new lows this week breaking below the 60 to 68 cent trading range that the market had been bound by since mid-July. A new December 2014 futures contract low was established Thursday at 59.51 cents/lb. Wheat prices received support from cold temperatures, causing concerns of winter kill, and reduced foreign production estimates for Australia and Eastern Europe. Additionally, US
wheat production and ending stocks were revised down in the latest WASDE report. Full details of the latest USDA- WASDE report
can be found at: http://economics.ag.utk.edu/outlook.html.
Corn
December 2014 corn futures closed at $3.81 up 14 cents a bushel since last week with support at $3.72 and resistance at $3.96.
Across Tennessee average basis (cash price- nearby future price) strengthened or remained unchanged at Memphis, Northwest
Barge Points, Northwest, and Upper-middle Tennessee and weakened in Lower-middle Tennessee. Overall average basis for the
week ranged from 45 under to 20 over the December futures contract with an average of 13 under at the end of the week. Ethanol
production for the week ending November 7th was 946,000 barrels per day up 17,000 barrels per day from last week. Ending ethanol stocks were 17.705 million barrels up 536,000 barrels from last week. Nationally, the November 10th Crop Progress report estimated corn harvested at 80% compared to 65% last week, 82% last year, and a 5-year average of 80%. In Tennessee, the Crop Progress report estimated corn harvested at 98% compared to 96% last week, 92% last year, and a 5-year average of 97%. This week
December 2014 corn futures prices traded between $3.64 and $3.89. Dec/Mar and Dec/Sep future spreads were 13 cents and 35
cents, respectively.
January cash forward contracts at elevators and barge points for the week averaged $3.83 with a range of $3.48 to $4.14. March
2015 corn futures closed at $3.94 up 14 cents from last week with support at $3.84 and resistance at $4.08. Corn net sales reported by exporters from October 31st to November 6th were within expectations with net sales of 19.9 million bushels for the
2014/15 marketing year. Exports for the same time period were up from last week at 23.7 million bushels. Corn export sales and
commitments were 44% of the USDA estimated total annual exports for the 2014/15 marketing year (September 1 to August 31)
compared to a 5-year average of 48%. September 2015 futures closed at $4.16. Downside price protection could be obtained by
purchasing a $4.20 September 2015 Put Option costing 37 cents establishing a $3.83 futures floor.
Soybeans
January 2015 soybean futures closed at $10.22 down 14 cents for the week with support at $9.98 and resistance at $10.65. Jan/
Dec soybean to corn price ratio was 2.68 at the end of the week. For the week, average soybean basis strengthened in all five regions. Basis ranged from 20 under to 52 over the January futures contract at elevators and barge points. Average basis at the end
of the week was 18 over the January futures contract. The Crop Progress report estimated soybeans harvested at 90% compared to
83% last week, 90% last year, and a 5-year average of 91%. In Tennessee, the Crop Progress report estimated soybeans harvested
at 73% compared to 62% last week, 55% last year, and a 5-year average of 77%. January cash forward contracts averaged $10.57
with a range of $9.96 to $10.99. This week January 2015 soybean futures traded between $10.20 and $10.86.
March 2015 soybean futures closed at $10.30 down 10 cents for the week with support at $10.07 and resistance at $10.71. Net
sales reported by exporters were below expectations with net sales of 39.5 million bushels for the 2014/15 marketing year. Exports
for the same period were down from last week at 83.4 million bushels. Soybean export sales and commitments were 78% of the
USDA estimated total annual exports for the 2014/15 marketing year (September 1 to August 31), compared to a 5-year average of
68%. Jan/Mar and Jan/Nov future spreads were 8 cents and -8 cents. Nov/Sep 2015 soybean to corn price ratio was 2.44. Novem3
(Continued on page 4)
Crop Comments by Dr. Aaron Smith
ber 2015 futures closed at $10.14. Downside price protection could be achieved by purchasing a $10.20 November 2015 Put Option which would cost 79 cents and set a $9.41 futures floor.
Cotton
December 2014 cotton futures closed at 59.8 cents down 4.16 cents for the week with support at 59.15 and resistance at 60.69.
Cotton adjusted world price (AWP) decreased 0.79 cents to 48.57 cents. The Crop Progress report estimated cotton harvested at
62% compared to 50% last week, 54% last year, and a 5-year average of 64%. In Tennessee, the Crop Progress report estimated
cotton harvested at 60% compared to 52% last week, 33% last year, and a 5-year average of 70%. December cotton futures traded
between 59.51 and 65.77 cents this week.
March 2014 cotton futures closed at 59.63 down 2.98 cents for the week with support at 58.41 and resistance at 60.31. Net sales
reported by exporters were up from last week at 158,300 bales for the 2014/15 marketing year. Exports for the same period were
up from last week at 88,600 bales. Upland cotton export sales were 66% of the USDA estimated total annual exports for the
2014/15 marketing year (August 1 to July 31), compared to a 5-year average of 62%. Dec/Mar and Dec/Dec futures spread were 0.17 cents and 4.18 cents. December 2015 cotton futures closed at 63.98. Downside price protection could be obtained by purchasing a 64 cent December 2015 Put Option costing 5.23 cents establishing a 58.77 cent futures floor.
Wheat
December 2014 wheat futures closed at $5.60 up 46 cents from last week with support at $5.27 and resistance at $5.71. In Memphis, old crop cash wheat traded between $4.72 and $5.08 for the week. December wheat futures traded between $5.11 and $5.64
this week. December wheat to corn price ratio was 1.47. Dec/Mar and Dec/July future spreads were 2 cents and 15 cents.
March 2015 wheat futures closed at $5.62 up 36 cents from last week with support at $5.44 and resistance at $5.76. Net sales reported by exporters were above expectations at 15.3 million bushels for the 2014/15 marketing year. Exports for the same period
were up from last week at 11.6 million bushels. Wheat export sales were 63% of the USDA estimated total annual exports for the
2014/15 marketing year (June 1 to May 31), compared to a 5-year average of 63%. The Crop Progress report estimated winter
wheat planted at 93% compared to 90% last week, 94% last year, and a 5-year average of 93%; winter wheat emerged at 83% compared to 77% last week, 83% last year, and a 5-year average of 79%; and winter wheat condition at 60% good to excellent and 6%
poor to very poor. In Tennessee, winter wheat planting was estimated at 75% compared to 60% last week, 55% last year, and a 5(Continued on page 5)
4
Crop Comments by Dr. Aaron Smith
year average of 70%; winter wheat emerged at 45% compared to 30% last week, 27% last year, and a 5-year average of 40%; and
winter wheat condition at 77% good to excellent and 1% poor to very poor. June/July 2015 cash forward contracts averaged $5.33
with a range of $4.82 to $5.74 at elevators and barge points. July 2015 wheat futures closed at $5.75. Downside price protection
could be obtained by purchasing a $5.80 July 2015 Put Option costing 43 cents establishing a $5.37 futures floor.
Farm Bill Update
Important deadlines for producers/landowners for the 2014 Farm Bill:
1.
2.
September 29 to February 28th. During this period, paperwork dealing with the program yield updating and program acre reallocation decisions can be completed for each FSA farm.
November 17 to March 31. During this period, paperwork dealing with program choice (Agricultural Risk Coverage - County
(ARC-CO), Price Loss Coverage (PLC), and Agricultural Risk Coverage - Individual Coverage (ARC-IC)) can be completed for each
FSA farm.
Additional details and helpful links can be found on the University of Tennessee Extension Farm Bill webpage: http://
economics.ag.utk.edu/farmbill.html. If you would like further information or clarification on topics discussed in the crop comments
section or would like to be added to our free email list please contact me at [email protected].
5
Futures Settlement Prices: Crops & Livestock
Commodity
Soybeans
($/bushel)
Friday, November 7, 2014 — Thursday, November 13, 2014
Contract Month
Friday
Monday
Tuesday
Wednesday
Nov
10.40
10.27
10.66
10.48
Jan
10.36
10.25
10.64
10.47
Mar
10.40
10.30
10.67
10.53
May
10.44
10.34
10.71
10.58
Jul
10.48
10.39
10.75
10.62
Aug
10.48
10.39
10.75
10.63
Thursday
10.50
10.53
10.59
10.64
10.69
10.69
Corn
($/bushel)
Dec
Mar
May
Jul
Sep
Dec
3.67
3.80
3.89
3.96
4.03
4.13
3.69
3.82
3.91
3.98
4.05
4.15
3.73
3.86
3.95
4.02
4.09
4.19
3.77
3.90
3.99
4.06
4.13
4.22
3.86
3.98
4.07
4.14
4.21
4.29
Wheat
($/bushel)
Dec
Mar
May
Jul
Sep
5.14
5.26
5.34
5.40
5.49
5.17
5.27
5.35
5.41
5.51
5.25
5.30
5.38
5.44
5.54
5.42
5.48
5.55
5.61
5.70
5.53
5.56
5.62
5.68
5.77
Soybean Meal
($/ton)
Dec
Jan
Mar
May
Jul
Aug
390
371
354
347
346
346
380
364
348
342
342
341
400
384
366
357
356
355
395
380
365
357
355
354
393
379
365
358
357
356
Cotton
(¢/lb)
Dec
Mar
May
Jul
Oct
63.96
62.61
63.57
64.33
65.78
62.43
61.32
62.36
63.23
64.56
63.30
61.53
62.57
63.45
64.77
61.94
60.34
61.41
62.33
63.65
59.73
58.75
59.82
60.75
62.19
Live Cattle
($/cwt)
Dec
Feb
Apr
Jun
Aug
166.80
168.37
167.15
156.80
154.50
167.12
168.52
167.55
156.90
154.27
167.25
168.40
167.50
157.60
155.10
167.75
169.57
168.22
158.75
155.97
169.65
171.02
169.30
159.62
157.00
Feeder Cattle
($/cwt)
Nov
Jan
Mar
Apr
May
Aug
238.52
232.45
229.65
229.95
229.70
230.27
239.02
232.75
230.30
230.75
230.17
231.20
238.85
232.65
230.55
230.87
230.77
231.42
239.35
233.37
231.80
232.27
231.60
232.22
239.35
234.22
232.82
233.55
233.27
234.02
Market Hogs
($/cwt)
Dec
Feb
Apr
May
Jun
88.77
88.42
90.10
90.75
94.25
89.55
89.10
90.80
90.75
94.85
89.90
89.45
91.00
92.50
95.35
90.67
90.80
91.70
93.25
95.50
91.27
91.60
92.85
93.75
96.50
6
Prices on Tennessee Reported Livestock Auctions for the week ending November 14, 2014
Low
This Week
High
Weighted Average
Last Week
Weighted Average
Year Ago
Weighted Average
—————————————————————— $/cwt ——————————————————————
Steers: Medium/Large Frame #1-2
300-400 lbs
270.00
345.00
301.56
300.29
196.97
400-500 lbs
231.00
305.00
272.66
271.68
172.63
500-600 lbs
217.00
264.00
243.96
242.68
160.37
600-700 lbs
206.00
246.00
228.39
225.16
149.67
700-800 lbs
190.00
230.00
216.25
217.57
145.23
300-400 lbs
220.00
305.00
274.14
272.60
174.83
400-500 lbs
240.00
285.00
259.52
234.30
153.08
500-600 lbs
210.00
240.00
223.98
219.19
140.03
600-700 lbs
202.50
224.00
216.50
209.20
135.14
Steers: Small Frame #1-2
Steers: Medium/Large Frame #3
300-400 lbs
220.00
307.50
269.08
276.02
173.07
400-500 lbs
200.00
286.00
244.65
236.89
156.08
500-600 lbs
195.00
242.50
222.81
224.96
145.42
600-700 lbs
200.00
230.00
213.36
201.99
142.50
205.80
134.62
700-800 lbs
Holstein Steers
300-400 lbs
———
———
———
182.14
104.85
500-600 lbs
———
———
———
———
107.48
700-800 lbs
150.00
160.00
155.39
148.99
———
Breakers 75-80%
94.00
114.50
105.14
103.50
75.66
Boners 80-85%
97.00
119.00
106.77
104.44
75.40
Lean 85-90%
86.00
104.00
94.88
91.93
67.15
Bulls YG 1
119.50
137.00
127.50
124.62
89.82
Slaughter Cows & Bulls
Heifers: Medium/Large Frame #1-2
300-400 lbs
225.00
285.00
253.91
256.36
164.76
400-500 lbs
213.00
265.00
237.90
241.50
151.63
500-600 lbs
198.00
240.00
221.90
226.50
142.09
600-700 lbs
180.00
226.00
207.70
204.97
135.17
300-400 lbs
175.00
270.00
228.29
210.69
134.21
400-500 lbs
180.00
234.00
210.24
213.24
128.10
500-600 lbs
180.00
225.00
209.18
199.34
123.48
600-700 lbs
200.00
215.00
207.50
190.64
123.70
Heifers: Small Frame #1-2
Heifers: Medium/Large Frame #3
300-400 lbs
200.00
270.00
231.46
238.86
142.94
400-500 lbs
190.00
247.50
217.22
218.29
135.24
500-600 lbs
170.00
225.00
201.28
204.31
128.57
600-700 lbs
162.00
203.00
192.30
188.77
127.98
Cattle Receipts (# sales): This week: 10,863 (12)
Week ago: 10,600 (12)
7
Year ago: 10,600 (11)
Tennessee 500-600 lbs. M-1 Steer Prices
Tennessee 700-800 lbs. M-1 Steer Prices
2013, 2014 and 5-year average
2013, 2014 and 5-year average
260
240
220
200
180
160
140
120
100
220
200
180
160
140
120
100
80
2008/2012 Av g
2013
2014
200 8/20 12 Avg
201 3
201 4
5-Area Finished Cattle Prices
Tennessee Slaughter Cow Prices
2013, 2014 and 5-year average
Breakers 75-80%
2013, 2014 and 5-year average
175
165
155
145
135
125
115
105
95
85
115
105
95
85
75
65
55
45
35
2008/2012 Avg
2013
200 8/20 12 Avg
2014
201 3
201 4
Prices Paid to Farmers by Elevators
Friday, November 7, 2014 — Thursday, November 13, 2014
Friday
Low
High
Monday
Low
Tuesday
High
Low
High
Wednesday
Low
High
Thursday
Low
High
————–-——–——————————————— $/bushel ———————————————————–———
No. 2 Yellow Soybeans
Memphis
10.71-10.81
10.65-10.70
———
10.92-10.92
10.88-10.96
N.W. B.P.
10.65-10.70
10.56-10.60
———
10.83-10.90
10.86-10.92
N.W. TN
10.16-10.32
10.05-10.26
———
10.32-10.48
10.38-10.54
Upper Md.
10.33-10.35
10.23-10.24
———
10.43-10.47
10.46-10.58
Lower Md.
10.20-10.42
10.11-10.31
———
10.38-10.53
10.36-10.59
Memphis
3.77-3.87
3.79-3.89
———
3.87-3.97
3.96-4.06
N.W. B.P.
3.67-3.86
3.79-3.84
———
3.88-3.93
3.96-4.01
N.W. TN
3.22-3.48
3.24-3.50
———
3.33-3.58
3.41-3.61
Upper Md.
3.32-3.38
3.34-3.39
———
3.42-3.58
3.61-3.63
Lower Md.
3.53-3.77
3.55-3.85
———
3.63-3.78
3.71-3.86
4.69-4.69
4.72-4.72
———
4.97-4.97
5.08-5.08
Yellow Corn
Wheat
Memphis
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Video Sales
Video Board Sales and Graded Sales
EAST TENNESSEE LIVESTOCK CENTER - Nov. 12, 2014
1 load out of 85 heifers; BQA certified producer; est. wt. 715
lbs., wt. range 665 to 765 lbs.; Slide: $0.04 on first 50 lbs., over
51 lbs. $0.06 back to first lb. over 716 lbs.; 100% M-1s; medium
flesh; 100% Black/BWF; Feed: pasture receiving corn silage/
ground hay/corn gluten mix; vaccinated twice; dewormed
twice; gathered early a.m., hauled 3 miles to barn, weigh on
grounds after sort; 2% shrink $226.00
705-775 lbs 214.00-217.50
780-850 lbs 219.00
855-950 lbs 204.00-205.00
705-775 lbs 171.00-186.50
780-850 lbs 170.00-173.00
Steers: Med & Lg 2
300-395 lbs 280.00
400-475 lbs 250.00
480-550 lbs 239.00-243.00
555-625 lbs 200.00-231.00
630-700 lbs 185.00-202.00
705-775 lbs 196.00-216.00
Heifers: Med & Lg 2
300-395 lbs 215.00-237.00
400-475 lbs 195.00
480-550 lbs 206.00-213.00
555-625 lbs 185.00-224.00
630-700 lbs 212.00
705-775 lbs 170.00-179.50
780-850 lbs 155.00-160.00
1 load out of 77 Holstein steers; BQA certified producer; est.
wt. 740 lbs., wt. range 690 to 790 lbs.; Slide: $0.04 on first 50
lbs., over 51 lbs. $0.06 back to first lb. over 741 lbs.; 100% #1s;
medium flesh; Feed: pasture plus hay, receiving 9 lbs/hd/day
corn gluten; double-vaccinated; dewormed twice; implanted;
gathered early a.m., hauled 6 miles to barn, weigh on grounds
after sort; 2% shrink $182.00
11/7/14 East Tennessee Livestock Holstein Sale
Receipts: 979
For complete report: http://www.ams.usda.gov/mnreports/nv_ls180.txt
MID-SOUTH LIVESTOCK - Nov. 10, 2014
1 load of 58 steers, avg. wt. 854 lbs., $225.00
11/7/14 Lower Middle TN Cattle Association Video Board Sale
Columbia, TN
Receipts: 674
(Delivery current thru Dec. 4th, 5-7 cent slide and 0-2% shrink)
Video Board Sales and Grades Sales
Steers Med & Lg 1 few 2
Heifers Med & Lg 1 few 2
1 ld 765 lbs $226.25 TN
20 hd 725 lbs $215.50 TN
28 hd 775 lbs $218.75 TN 2 lds 825-835 lbs $205.60-211.25 TN
1 ld 840 lbs $221.50 TN
4 lds 875-880 lbs $220.25-220.75 TN
11/6/14 Athens Replacement Sale
Replacement Cows:
370 head
4-6 years old 1100-1300 lbs 7-8 months bred 1800.00-2450.00/head
7-9 years old 1150-1350 lbs 6-8 months bred 1750.00-2350.00
5-7 years old 1100-1250 lbs 2-4 months bred 1600.00-2100.00
9 years & older 1100-1200 lbs 5-7 months bred 1450.00-1850.00
Mixed load Steers & Heifers Med & Lg 1 few 2 (heifers $10 back of steers)
40 +/- steers 675 lbs, 40+/- heifers 650 lbs $231.00 TN
Cow and Calf Pairs:
11/6/14 Hodge Video Sale
Receipts: 32 loads
Next video sale will be Dec. 4, 2014
4-6 years old 1150-1350 lbs baby to 300 lb calves 2500.00-3000.00/pr
7-9 years old 1100-1300 lbs baby to 250 lb calves 1850.00-2550.00
STEERS
1/2 LOAD 650 LBS TN $230.50
1 LOAD 750 LBS TN $223.00
1 LOAD 800 LBS TN $230.00
1 LOAD 825 LBS TN $228.50
1 LOAD 850 LBS TN $229.50
1 LOAD 850 LBS TN $216.50
Video Board Sales and Grades Sales
11/11/14 Tennessee Livestock Producers - Fayetteville
Receipts: 792 (404 graded and grouped)
Steers: Med & Lg 1-2
300-400 lbs 297.50-306.00
400-500 lbs 260.00-290.00
500-550 lbs 235.00-260.00
600-700 lbs 224.00-239.50
700-800 lbs 200.00-224.00
Heifers: Med & Lg 1-2
300-400 lbs 244.00
400-500 lbs 237.00-250.00
500-600 lbs 220.00-234.00
600-700 lbs 185.00-216.00
700-800 lbs 199.00
11/5/14 Browning Livestock Market, Lafayette TN
Feeder cattle sale
Next sale Nov 19, 2014
For complete report: http://www.ams.usda.gov/mnreports/nv_ls180.txt
11/4/14 Tennessee Livestock Producers - Fayetteville
Receipts: 680 (373 graded and grouped)
Bulls: Med & Lg 1-2
400-500 lbs 254.00-275.00
500-600 lbs 224.00-240.00
600-700 lbs 207.00-210.00
700-800 lbs 196.00
800-900 lbs 152.00
11/10/14 Cookeville
Steers: Med & Lg 1
300-395 lbs 283.00
400-475 lbs 263.00
480-550 lbs 245.50-252.25
555-625 lbs 226.00-234.00
630-700 lbs 219.00-225.00
HEIFERS
1 LOAD 650 LBS TN $217.50
1 LOAD 775 LBS TN $216.00
1 LOAD 775 LBS TN $210.00
Steers: Med & Lg 1-2
350-400 lbs 292.00-304.00
400-450 lbs 290.00-300.00
450-500 lbs 271.50-286.00
500-550 lbs 250.00-273.00
550-600 lbs 248.00-260.00
600-700 lbs 230.00-250.00
700-800 lbs 224.00-232.50
800-900 lbs 220.00
Receipts: 552
Heifers: Med & Lg 1
300-395 lbs 235.00-260.00
400-475 lbs 230.50
480-550 lbs 206.00-229.00
555-625 lbs 190.00-228.00
630-700 lbs 190.00-207.00
Heifers: Med & Lg 1-2
350-400 lbs 262.00-266.00
400-450 lbs 240.00-256.00
450-500 lbs 240.00-247.00
500-550 lbs 230.00-233.00
550-600 lbs 222.00-233.00
600-700 lbs 189.00-217.00
Bulls: Med & Lg 1-2
400-450 lbs 274.00-286.00
500-550 lbs 235.00-243.00
450-500 lbs 255.00-263.00
550-600 lbs 219.00-224.00
600-700 lbs 186.00-190.00
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Beef Industry News
Featured Article from DROVERS CattleNetwork
Waters of the U.S. update
The rule defining “Waters of the U.S.” under the Clean Water
Act (CWA) that has been proposed by the Environmental Protection agency (EPA) and the U.S. Army Corps of Engineers
(USACE) has a comment period that will end Nov 14th 2014.
This has been a controversial topic since the comment period
started on April 24th 2014. Some of the main topics of debate
have been jurisdiction over ditches, agricultural impacts from
fertilizer and pesticide application, and jurisdiction over “other
waters”.
Ditches
Ditches are being debated because some Ag groups contend
that the wording in the proposed rule will grant jurisdiction
under the CWA to ditches not currently regulated. According to
the EPA, no new land will be subject to the CWA that hasn’t
historically been jurisdictional. The proposed rule explains that
ditches that would be excluded must be dug in upland areas
and have less than perennial flow. To be excluded, the ditch
also cannot meet the definition of a “tributary”. According to
the proposed rule, the term tributary means a water body
physically characterized by the presence of a bed and banks
and ordinary high water mark, which contributes flow, either
directly or through another water. So a ditch that only has
ephemeral flow, can still be jurisdictional if it has a bank, bed,
and ordinary high water mark. A wetland, lake, or pond can
also be a tributary if it acts as a conduit for flow contribution to
another location; such as a wetland in a floodplain or riparian
area.
Fertilizers & Pesticides: Permit concerns
Many farmers are concerned that they will be required to obtain permits for the application of fertilizers and pesticides. No
permits will be required according to EPA on agricultural application on dry lands. This still concerns the farmers because of
the uncertainty of what constitutes dry land. Many acres that
are dry during an application may run or contain water after a
heavy rainstorm. As long as the areas that have chemicals applied onto them do not have a bed, bank, ordinary high water
mark, or meet the definition of a tributary, EPA has deemed
those areas as non-jurisdictional.
Permit-Exempt Practices
For many agricultural practices that may discharge pollutants to
“waters of U.S.” such as stream crossings or tile outlets, 56 NRCS
approved conservation practices have been written into the Interpretive Rule. No permit is required as long as the agricultural
activity follows the standards written for the associated practice.
A list of the 56 practices is available courtesy of the EPA.
Besides the 56 conservation practices, the same historic exemptions will exist for agricultural practices. These include “normal”
farming and ranching, construction and maintenance of farm or
stock ponds or irrigation ditches, maintenance of drainage ditches, and construction or maintenance of farm roads.
Other Waters
Jurisdiction for “Other Waters” currently lies in listing out types
of water bodies that if degraded or destroyed would impact interstate or foreign commerce including any such waters. This list
was omitted because it was thought to be repetitive when many
of the items are jurisdictional under different criteria. For a water body to fall into the “Other Waters” category, it would have
to be determined on a case-specific basis. An example of this
might be a prairie pothole. If the pothole doesn’t meet any other criteria for jurisdiction, then it will be evaluated for a significant nexus to another interstate water or territorial sea.
Opponents & Critics
Opponents of the Proposed Rule claim that it will give the EPA
greater reach over areas that they historically haven’t covered,
despite EPA’s claims that they will not have any additional jurisdictional areas. The EPA has created a website to explain and
defend the Proposed Rule named Ditch the Myth.
The American Farm Bureau Federation, one of the most vocal
critics of the proposed rule, has also created a website that opposes the rule named Ditch the Rule.
Public Commentary
Producers and stakeholders that are interested in the proposed
rule and its potential impacts are encouraged to learn more and
provide comments to the EPA before the end of the public
comment period.
University of Tennessee Extension
Department of Agricultural and Resource Economics
314 Morgan Hall • 2621 Morgan Circle
http://economics.ag.utk.edu/
http://economics.ag.utk.edu/curmkt.html
USDA / Tennessee Department of Agriculture Market News Service
http://www.tennessee.gov/agriculture/marketing/marketnews.html
1-800-342-8206
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