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North Mountain Ag Services

NORTH MOUNTAIN UPDATE FEBRUARY 9, 2015

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE February 9, 2015 Milk Margins Struggle This past year dairy producers benefited from strong Chinese export demand.  The slowing of the Chinese economy serves as a good reason to question how much demand there will be in Asia for US dairy products in 2015.  Inventory reports in China indicate that large amounts of dried milk have been stored during 2014, only strengthening the argument that US exports face challenges. Russia’s troubles with the EU and their embargo on shipments of EU milk and cheese are also a clear challenge for dairy farmers in various parts of the world.  With Asian and Eastern European demand forecasted to be soft this year, it is easy to wonder how many destinations exist for US milk in the coming months. One bright spot in 2015 is the...

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WEEKLY UPDATE JULY 28, 2014

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE July 28, 2014 Agricultural News: Corn crop looks promising Soybean crop progress and supply Dairy profitability Pork prices and demand expectations Market Updates: USDA is rating 76% of the US corn crop as being “Good to Excellent”. At this time last year, only 67% of the crop was ranked at this level. For livestock producers, this is welcome news that offers optimism for continued profitability through the first quarter of 2015. With the potential for prices to further weaken at harvest, grain producers are wise to consider covering a portion of their crop. As early concerns over US moisture have leveled off in the trading pit, the soy complex continues to show signs of softening. Barge availability has increased over the past two weeks for shipments of soybean meal from South America. Alternative...

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WEEKLY UPDATE APRIL 2, 2104

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE April 2, 2014 Agricultural News: Corn prospective plantings lower than expected Soybean pricing and the global picture Dairy prices and farm income Pork prices, will they ever soften? Market Updates: This week’s USDA report was bullish for corn futures, with the prospect plantings forecast at 91.7 million acres, which would represent a 4% reduction from 2013.  With corn stocks running close to 30% higher than last year, grain farmers continue to hold on to last year’s crop.  Futures traders have been reluctant to enter into the market, and trading volume is much lighter than last year at this time. Soybeans were a different story in the USDA Prospective Plantings Report.  The forecast is for plantings to increase over 6% from last year.  With soy and protein prices remaining firm this month, speculators in...

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WEEKLY UPDATE FEBRUARY 28, 2014

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE February 28, 2014 Agricultural News: Corn prices slightly stronger Soybean pricing and protein values Cattle supplies- what does the short term look like? Pork pricing, cash vs. cutout Market Updates: Corn basis across much of the eastern US has been strong this past week as grain producers inventory product in the face of futures prices that have been essentially flat.  It is our expectation that this will continue into early March as producers continue to make marketing decisions based on forecasted returns that were much higher than what the corn market is currently offering. While reports of large South American soybean supplies continue, transportation remains a significant concern for product reaching the US.  Sugar continues to draw upon the limited resources to move bulk product in a timely manner.  With high protein values...

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WEEKLY UPDATE JANUARY 24, 2014

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE Agricultural News: Corn growers have marketing decisions to make. Soybean prices continue to be a challenge for livestock producers. Live cattle futures at historical highs. Retailers challenged with high protein prices. Market Updates: There has been a slight increase in corn basis in many regions this past week as corn producers have dug their heels in and are not interested in selling corn in the current declining corn futures market.  While futures were firm in response to recent reports containing revised 2013 yield data, the market continues to trend lower.  For our grain producing clients, we are recommending a strategy of marketing 20% of 2013 production by the end of February.  The next layer of recommended selling will be an additional 20% by March 30.  While it may seem hard to sell corn...

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Weekly Update

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE Agricultural News: Corn futures trending lower. Soybean meal basis proving to be a challenge for livestock producers. Broiler production filling in the gap left by beef in the retail sector. Retail meat prices at historically high levels. Market Updates: This week’s USDA crop production report forecasts US corn production at 13.84 billion bushels in 2013.  This is an average yield of 155.3 bushels per acre.  With nearby corn futures dropping $0.17 per bushel this week, it appears traders are not being swayed by reports of dry weather in the western US. The soybean complex has softened this past week as a whole, but there has been little relief for livestock producers feeding soybean meal.  With basis levels ranging from +$130 to +$150 this past week, North Mountain is still recommending that end-users limit...

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