BUDGETS: cow calf, backgrounding, summer grazing

LMIC: Analysis and Comments, In the Cattle Market, Livestock Monitor

MARKET REPORTS: area market reports

PRESENTATIONS: meeting presentations

LEASE PUBLICATIONS - farm and ranch

Chart of the Month

North Dakota calf prices likely peaked seasonally in early May at the same $180 average level as last year and will decline into the fall marketing season. Fed cattle prices will be pressured into the summer months by increasing slaughter numbers. Record annual beef production up about 5% along with record competing meat and total meat production is a headwind. On the positive side record beef exports continue, but caution exists with the US negotiating trade agreements with our top 4 customers - Japan, Korea, Mexico, and Canada. The US economy continues to improve and the meat complex usually sees positive impacts from tax reductions. Corn prices are a wild card for fall calf prices. The USDA-NASS Prospective Plantings report showed corn producers intend to plant over 2 million less acres, so Corn Belt weather will need to be watched. The 2018 US calf crop will be about 500,000 head larger. So more calves will be available for marketing this fall.