The global stocks-to-use ratio for the major crops, excluding China, has been trending down since 2018, Jason Newton, Nutrien’s chief economist, told delegates attending the 24th International Farm Management Association Congress in Saskatoon.
Daily news
Global crop yields have not kept up with increasing demand
Sluggish production blamed on adverse weather conditions and high input costs that lead to reduced fertilizer use
Maple Leaf Foods plans to split into two independent public companies
Maple Leaf Foods is splitting into two independent public entities by spinning off its pork business, it said today.
Maple Leaf Foods will retain a 19.9 per cent ownership position in the newly formed pork company, the name of which will be announced in the coming months, the company said.
Klassen: Buyers tasting feeder cattle prices for fall run
For the week ending July 2, Western Canadian yearling prices were steady to $5 higher compared to seven days earlier for larger packages. Small groups of 800-pound-plus cattle were $10 to $15 discounted to pen-sized lots. Calf markets were relatively unchanged from the prior week, although volume was limited. There is significant open demand for yearlings and finishing feedlot operators are watching how prices develop.
U.S. grains: Soybean, grain futures drop on expectation of positive crop report
Chicago Board of Trade soybeans and corn futures on Monday dropped to around the lowest prices in four years, as traders expected a positive picture of U.S. crop progress from the U.S. Department of Agriculture (USDA) in a report due later in the day.
U.S. livestock: Cattle futures lower, hogs mostly down on demand questions
Chicago Mercantile Exchange cattle futures turned lower on Monday, shedding a post-holiday rally on demand concerns and news that beef-loving Argentines are cutting back on buying steaks as the country's economy slumps.
New Canadian feed regulations released
Long-awaited feed regulation update offers more flexibility, risk-based approach, focus on food safety
The Canadian Food Inspection Agency (CFIA) has released their long-promised update to national feed regulations. Formally referred to as the “Feeds Regulations, 2024,” the final version of the framework was registered June 17 and published for public view July 3 in part 2 of the Canada Gazette.
Fund short position in canola at four-month high to start July
Fund traders continued to add to their large net short positions in canola as the calendar flipped to the final month of the 2023/24 marketing year for the crop, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Bird flu strain in US cows shows minimal air spread in ferret study
The bird flu strain found in cows in the United States is not easily transmitted through the air among ferrets, a new study shows, although the scientist who led the work said it had shown some ability to spread this way.
Feds announce $6 million beef marketing boost
Canada Beef and the Canadian Cattle Association (CCA) are receiving up to $5,865,110 and $453,364 respectively for marketing activities such as advertising, trade missions, technical training and educational seminars.
Agreement reached at Guelph Cargill plant
Nearly 1,000 unionized employees at Cargill Dunlop in Guelph ratified a new collective agreement on Saturday July 6. The workers, represented by Local 175 of the United Food & Commercial Workers (UFCW), began strike action after turning down a deal on May 26.
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