Profit Tips

Marketing Tactics

Marketing cattle is challenging this year given the high price of feed at the present time and sharply lower feed prices expected this fall. Cattle producers may be looking for tactics to use to protect the price of newborn calves, to protect yearlings headed to summer grazing, or price cattle to be placed on feed in the coming months. As producers weigh their marketing alternatives, a few tools may help from a seller’s perspective.

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Credit Availability to Operate in Today’s Beef Industry

Dealing with volatility in agricultural markets and how to access credit availability was one of the topics discussed at the 20th Anniversary of Cattlemen’s College held in conjunction with the 2013 National Cattlemen’s Beef Association Convention and Trade Show, Tampa, Fla., Feb 6 -9th. Bob Campbell, Senior Vice President with Farm Credit Services, Lincoln, Neb., was a member of a panel of financial specialists addressing this topic.

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Make Your Voice Heard

Ag states throughout the nation, but especially across the Midwest, have been tagged “fly-over states.” Nationwide, people often consider this area someplace to cross as fast as possible, and many of us don’t think we have much in common with the states on the coasts either. Ag states do, however, have a huge impact on the economy and food production worldwide. Now is your chance to voice your opinions and to influence policy design.

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Crop Progress & Crop Condition Index

The Crop Condition Index (CCI), is calculated to track the condition of a specific crop from week to week during the growing season.  It is based on the crop condition ratings reported each week in USDA’s Crop Progress Report.  South Dakota’s office of the National Agricultural Statistics Service (NASS) surveys Extension Educators and others each week to determine crop progress and crop condition during the growing season.  Information from this weekly survey is released each Monday afternoon.

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Cattle & Corn Comments - May 13, 2013

USDA’s May World Agricultural Supply and Demand Estimates (WASDE) report, released last Friday, was the first to include forecasts of corn production and use for the upcoming 2013/14 marketing year (beginning September 1, 2013). While the February Outlook Forum and March Prospective Plantings numbers provided the foundation for the projections for next year, this was also the first opportunity USDA had to revise production numbers to reflect this year’s late planting caused by cold and wet conditions. Still, the report didn’t provide the market any bullish surprises and corn prices fell over a dime last Friday as the market traded a more favorable planting weather forecast for next week.

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Cattle & Corn Comments - May 6, 2013

Corn Sellers:  Do you remember that sinking feeling you had on March 28 when USDA released its quarterly Grain Stocks Report that showed larger-than-expected stocks and corn futures closed limit lower? Before the reports’ release that day, July CME Group corn futures were trading around $7.15/bu (Figure 1). They closed the day locked limit lower at $6.76/bu. The next week, July futures had worked down to lows around $6.17/bu and, after a brief short covering rally, found new lows at $6.14/bu in the third week of April. So, in about a one week time period, corn price dropped about $1/bu, leaving many with unpriced old crop bushels and few sales made for the 2013 new crop.

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Grain Stocks Bearish, Soybean and Sunflower Planting Intentions Down

The USDA grain stocks and prospective planting reports were released on Friday, March 28. Corn, soybeans, and wheat stocks were all above market analyst’s expectations for this quarter.  Prospective planted acres for corn and wheat were in line with analysts’ expectations; however, soybean acres were 2% lower than expected.  Sunflower acres are expected to be 12% lower than last year’s actual planted acres.

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Family Withdrawals And Business Investment

The family business must balance withdrawals and rate of investment in the business. One method to monitor the balance is to compare the withdrawals to the total sum available for business investment. The total sum available can be measured as earnings before interest, taxes, depreciation, and amortization (EBITDA). The family withdrawals should not surpass 25% to 35% of EBITDA , given the family business is profitable.

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Credit Availability to Operate in Today’s Beef Industry

Dealing with volatility in agricultural markets and how to access credit availability was one of the topics discussed at the 20th Anniversary of Cattlemen’s College held in conjunction with the 2013 National Cattlemen’s Beef Association Convention and Trade Show, Tampa, Fla., Feb 6 -9th. Bob Campbell, Senior Vice President with Farm Credit Services, Lincoln, Neb., was a member of a panel of financial specialists addressing this topic.

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Tips on Managing Forage, Water, and Cattle Resources

In challenging times such as drought, managers can’t let their emotions from the stress of the drought interfere with their daily management decisions. They must continue to manage wisely, said Burke Teichert, Orem, UT. Teichert is no stranger to the beef industry. He was employed for many years in a management role with AgReserves (which consisted of Dessert Ranches, Rex Ranch, and several other large ranching enterprises).

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Inventories for Operational Survival

As the drought continues across SD and the majority of the Corn Belt producers need to start looking at their operations more analytically than they have in the past. Analyze your inventories. Inventories of feed and livestock are very important. If producers know how much feed they have on hand and also the nutrient analysis of that feed, they can begin to determine how to best meet the requirements of the livestock they’re considering feeding this winter.

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