US Farm Report 09/21/2024
Assistant Professor Rabail Chandio and Associate Professor Bobby Martens were interviewed on the latest episode of Farm Journal's US Farm Report. When questioned about the logistics of the upcoming US crop harvest, Martens said "A big crop coming through. The whole logistics system--meaning the inventory piece of it and the transportation piece of it--is going to be full, it's going to be stressed. We expect to be able to manage it, but we'll be managing it in different ways, especially with the carryover that we have, we already have some storage being used." Asked if Iowa's land market is softening, Chandio said "Definitely. As we are coming out of the pandemic highs--with the high government payments no longer there, with the high farm incomes no longer supporting the land value--the market already began to soften in 2023. So we've already experienced a full year of softening and maybe slight falling of land values in certain parts of the state as well."

"Bird flu outbreaks made egg prices more expensive. Here's what to know"
Professor Lee Schulz was quoted by Iowa Public Radio in the article "Bird flu outbreaks made egg prices more expensive. Here's what to know." The story examines how avian influenza has played a role in the price of eggs, which recently peaked at $3.30/dozen wholesale. Schulz said "The cost of doing business, transportation, wages, energy, all those things are much higher than the last decade. And so that has added to the price of eggs."

"4 ways to seize the moment in the cattle market"
Farm Progress featured information from Lee Schulz's presentation at the 2024 Husker Harvest Days in the article "4 ways to seize the moment in the cattle market." Schulz told the audience that current replacement prices for heifers are good. "So, if I have the resources to do it, I think this is an opportunity to retain my own calves, or to go buy open heifers or bred heifers on the market," he said.

"USDA makes minor changes to crop production estimates"
Professor Chad Hart was quoted by FarmWeek Now in the article "USDA makes minor changes to crop production estimates," which details changes to USDA's September crop production report. Hart told FarmWeek Now that "As we sit here about an hour after the report, corn is down 2 to 2.5 cents looking across the December through May contracts. Soybeans are up 6.5 to 7.5 cents as we look out over that same period of time."