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March 1, 2013
metric
tons, carcass weight 2011 2012 2013 2022
Japan 745 … metric
tons, carcass weight 2011 2012 2013 2022
Japan 745 … metric
tons, carcass weight 2011 2012 2013 2022
Australia …
October 22, 2012
76-100%
5. I don’t know
Events Summary
• U.S. State-by-State … agreements
• Live Trade Events
– May 11’: Australia … be optimal
December 1, 2011 TOTAL Hogs Breeding
AS PERCENT …
May 7, 2019
Grain Market Outlook
A Deferred Future “Carrying Charge” View of KS HRW Winter Wheat Futures
On May 6th carrying charges between the JULY 2019 to SEPTEMBER 2019 Kansas HRW Wheat futures
contracts (i.e., the JUL‐SEP 2019 Spread) were $0.11 per bushel, or $0.0550 per bushel per month. This
compares to spreads of $0.22 /bu or $0.0733 /bu/mo. for SEP‐DEC 2019, and $0.2250 /bu or $0.0750 /bu/mo.
for DEC 2019‐MAR 2020 Kansas HRW Wheat futures contracts.
These “full carry” deferred futures full contract storage cost contract spreads are influenced by large
supplies on hand – which leads to higher Variable Storage Rates (VSR) among Kansas HRW Wheat futures
contracts. These large carries are encouraging storage of “new crop” 2019 Kansas HRW wheat on the one
hand, and provide the basis for a potential return to storage hedges by producers and grain elevators for the
2019 HRW wheat crop on the other.
Extending this analysis further to later deferred contracts, whereas on May 6th harvest JULY 2019 Kansas
HRW Wheat futures closed at $4.03 /bu, the JULY 2020 contract closed at $4.84 ¾ /bu for JULY 2020 – up
20.2% and $0.0681 /bu/month from JULY 2019. Extending even further into the next year, on May 6th JULY
2021 KS HRW Wheat closed at $5.42 ½ /bu, up 11.9% and $0.0479 /bu/month from JULY 2020
From an economic viewpoint, these deferred years’ JULY Kansas HRW Wheat futures prices in years 2020
& 2021 could reflect market expectations that HRW wheat futures prices will eventually be higher than
current bids for JULY 2019 futures – which is consistent with economic theory. However, it also seems that
the carrying charges now reflected across the range of available deferred KS HRW Wheat futures contracts
appear to be being extended out to the distant “new crop” JULY 2020 and JULY 2021 contracts.
Restated, it appears these uninterrupted positive carrying charges are being inflexibly and mechanically
applied to deferred KS HRW Wheat futures contracts as far as 24 months into the future – regardless of what
expected fundamental supply‐demand conditions may be in the wheat market that far out. If this is so, then
these deferred futures prices may present: a) opportunities for long‐term market arbitrage positions to
traders, or b) hedging opportunities for U.S. wheat producers IF they are able to financially manage the risk of
potential margin call …
February 1, 2013
Beef Cattle
provided by the North Central Risk Management Education
Center … http://AgLease101.org
Managing risk is required for many farm … many farm enterprises to be profitable and sustainable.
Leasing …
August 20, 2013
Land Buying and Valuing
Non-Ag Features
August 2011 (available at www.AgManager.info … Economics (Publication: AM-KCD-2011.18) www.AgManager.info … Non-Ag Features
August, 2011
Terry L. Kastens, Professor …
August 1, 2011
Land Buying and Valuing
Non-Ag Features
August 2011 (available at www.AgManager.info … Economics (Publication: AM-KCD-2011.18) www.AgManager.info … Non-Ag Features
August, 2011
Terry L. Kastens, Professor …
June 20, 2016
Financial Management
1
Management Factors: What is Important, Costs, Yields, Prices, or
Production Practices?
Cooper Morris (cooper.h.morris@gmail.com), Elizabeth Yeager (eyeager@ksu.edu), Kevin Dhuyvetter
(kdhuyvetter@elanco.com), and Greg Regier (gregier@ksu.edu).
Kansas State University Department of Agricultural Economics ‐ June 2016
http://www.agmanager.info/farmmgt/finance/management/MgtFactors05‐14_(Jun16).pdf
This paper analyzes the value and feasibility of farming differently than the local average in Kansas crop
production. It is an update of previous research with the addition of several new variables‐‐workers per acre,
machine costs, and crop input costs‐‐to answer additional questions (Dhuyvetter, Morris, & Kastens, 2011;
Kastens, Dhuyvetter, 2007, 2006, 2005, 2004; Nivens, Kastens, & Dhuyvetter, 2002). Farms are broken down by
their characteristics, practices, and management performances in order to identify sources of superior
performance. Do the number of workers per acre explain differences in farm performance? Do machine costs or
crop input costs, relative to averages, have a larger impact on farms’ relative performances? The degree and
consistency of which farms are different than average is also analyzed. To what degree do farms distinguish their
planting intensity from the local average? By how much do the prices received by some farms deviate from the
average price received in a county? Lastly, how consistently farms achieve different than average costs, yields,
prices, and net incomes is analyzed.
This analysis and previous studies have examined farm characteristics and performances over ten‐year
periods going back to the 1992‐2001 period (Nivens, Kastens, & Dhuyvetter, 2002). Since the first study the
estimated impact of farm size and price management increased steadily. The measured impact in this study
deviates from the increasing trend, but farm size and price management continue to be significantly related to
farm performance.
…
March 25, 2019
Grain Market Outlook
… ccur in “new crop” MY 2019/20 – which will begin on June
1, 2019. The risk of tightening stocks is … hese countries place themselves at risk to the effect of
market …
August 1, 2006
Compensation
extra mile.
Bonuses, profit sharing plans, and other … employee receives, such as
profit-sharing bonuses.
--Indirect … Subsidized Utilities
Tickets to Events (ball games, concerts) Magazine …
October 9, 2023
Prices and Price Forecasts
a
significant effect on farm profitability. As shown by Ibendahl, Fertilizer … have large effects on farm
profitability.
Ibendahl has been predicting … fertilizer purchases could improve profitability. All the major fertilizer …