Agriculture • USDA report shows fewer U.S. cattle farms
Cattle Outlook: USDA report shows fewer U.S. cattle farms
University of Missouri Extension | Updated: 03/01/2013
USDA’s February cattle on feed report had few surprises. The number of cattle placed on feed in January was up 1.6% from a year ago. This was the first time placements have been above year-earlier since May. Because of one extra slaughter day, both marketings and steer & heifer slaughter were up 5.6% compared to January 2012. The number of cattle on feed February 1 was down 6.2%. Low placement numbers last fall imply daily steer and heifer slaughter will be down sharply in March and April.
USDA’s annual report on farm numbers says there were 915,000 U.S. farms with cattle last year, which is 7,000 fewer than the year before. Of these, 729,000 farms had beef cows and 58,000 had dairy cows. The largest 53,000 or so cow-calf farms have half the beef cows and the largest 2,200 or so dairy farms have half the dairy cows.
There was 484 million pounds of beef in cold storage at the end of January. That was up 3.9% from the month before, but down 0.2% from January 2012.
Blizzard conditions in the southern plains gave a big boost to fed cattle prices this week. Through Thursday, the 5-area average price for slaughter steers sold on a live weight basis was $127.84/cwt, up $5.08 from the prior week. On a dressed weight basis, steers averaged $203.30/cwt this week, up $7.75 from the week before.
Beef carcass cutout values were also strongly higher this week. On Friday morning, the choice boxed beef carcass cutout value was $187.49/cwt, up $4.75 from last Friday. The select carcass cutout was $185.25/cwt, up $4.72 for the week.
This week’s cattle slaughter totaled 563,000 head, down 1.7% from the week before and down 9.2% from the same week last year. The average steer dressed weight for the week ending on February 16 was 870 pounds, up 2 pounds from the week before and up 16 pounds from a year ago. This was the 58th consecutive week with steer weights above the year-earlier level. The calf crop has been declining and so has steer slaughter. In 2012 steer slaughter was down 2.3% compared to 2011, but steer carcass weights were up 2.2%. Much of the price benefit of fewer cattle is being offset by more beef per animal.
Feeder cattle prices at this week’s Oklahoma City auction were sharply lower in light volume due to winter weather. The price ranges for medium and large frame #1 steers were: 400-450# $180-$197, 450-500# $176-$182, 500-550# $168-$177.50, 550-600# $152.50-$161, 600-650# $145-$154.50, 650-700# $142, 700-750# $136, 750-800# none, 800-900# $129.25-$132, and 900-1000# none.
The April fed cattle futures contract ended the week at $129.95, up $1.73 from the week before. The June contract gained 63 cents this week to settle at $125.10 on Friday. August fed cattle ended the week at $125.72/cwt. March feeder cattle futures ended the week 30 cents higher at $141.55/cwt. April feeders closed out the week at $144.15.
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Statistics: Posted by yoda — Sat Mar 02, 2013 11:47 am
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Agriculture • USDA will cut wheat estimates further – Goldman
USDA will cut wheat estimates further – Goldman
The downgrade by US farm officials to estimates for world wheat production will not be their last, Goldman Sachs said, forecasting a 34% slump in Australian exports of the grain, and outperformance in futures prices.
Revisions on Thursday by the US Department of Agriculture, in its benchmark Wasde report, to crop estimates attracted most attention in corn, for which the estimate for year-end stocks was cut to 619m bushels, well below market expectations.
However, it is wheat futures which stand to fare better, the bank said, flagging the threat of further downgrades to harvest estimates, notably in Argentina, Australia and China.
The comments were echoed by rival banks including Societe Generale, which termed wheat "the big winner" of the Wasde report, and Credit Suisse, which said "the outlook for wheat prices may be slightly more bullish than other grains".
‘Further downgrades necessary’
Goldman Sachs analyst Damien Courvalin said that world wheat production in 2012-13 looked, at 647.8m tonnes, set to turn out 5.2m tonnes lower than the USDA is expecting.
"Further downgrades will be necessary" by the USDA.
This will support wheat prices "both outright and relative to corn prices to limit feed demand in the face of lower availability", Mr Courvalin said, flagging the potential for futures to "move sharply higher" if another crop is badly hurt by weather.
"This would likely shift wheat to being the leader of the grain complex," he said.
Weaker prospects
Many commentators have cautioned that the USDA’s estimate for Australia’s dryness-plagued wheat crop may still too high, despite being downgraded in the Wasde by 3.0m tonnes to 23.0m tonnes.
Goldman Sachs pegged the harvest at 21.0m tonnes, sufficient to support exports of 16.5m tonnes – a figure 1.5m tonnes below the USDA forecast and down one-third year on year.
The Goldman export figure is also below an estimate of 17.8m tonnes from Commonwealth Bank of Australia last week.
For Argentina, Goldman pegged the wheat harvest at 10.8m tonnes, below the USDA figure of 11.5m tonnes.
Separately on Thursday, the Buenos Aires grains exchange forecast an Argentina crop of 10.12m tonnes, citing flooding which has hit in particular the main wheat producing Buenos Aires state.
‘Increasingly concerned’
Societe Generale’s supportive comments for wheat prices reflected the prospect of import demand shifting to the US now former Soviet Union supplies are running dry.
"Global cash prices continue to converge and we continue to expect the US to benefit from this in the latter portion of the wheat marketing year," SocGen analyst Christopher Narayan said.
Credit Suisse on Friday, while forecasting prices declines in all three of Chicago’s big three crops ahead, said it was relatively upbeat over wheat futures given that "so many key producers [are] being affected by weather-related disruptions", implying the need for higher values.
"We are increasingly concerned by the outlook of smaller global production and exports in the coming year," Credit Suisse said.
"With global stocks falling once again, we believe the outlook for wheat prices may be slightly more bullish than other grains."
http://www.agrimoney.com/news/usda-will … -5096.html
Statistics: Posted by yoda — Fri Oct 12, 2012 1:04 pm
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Agriculture • USDA controversial data
Ag investors brace for controversy, as US stocks data loom
Friday could bring a high point of the annual agricultural commodities calendar, in terms of controversial data.
Plenty of crop reports attract market grousing. But the US Department of Agriculture quarterly grain and oilseed inventory reports have become magnets of particular criticism.
And of these, the report showing September 1 stocks, the latest of which will be released at 1330 UK time (07:30 Chicago time) is the big daddy, coming in with numbers for corn and soybeans which will mark the carry-out inventories for 2011-12, and the beginning ones for 2012-13.
At least the USDA has plenty of cracks at getting its yield numbers right. It only has one shot at this report.
And inventory figures are of great significance for investors, given their use in forming the stocks-to-use number which, in giving an idea of the availability of a crop, gives an indication of the prices that buyers will have to pay.
Soybean dynamics
The concerns centre over the corn stocks number.
Market estimates for data on US corn stocks, Sept 1
Average estimate: 1.113bn bushels
Highest estimate: 1.261bn bushels
Lowest estimate: 887m bushels
Current USDA figure: 1.181bn bushels
Year-ago figure: 1.128bn bushels
Sources: USDA, ThomsonReuters
For soybeans, of which the market is expecting a 113m-bushel figure, "it doesn’t matter if the number is 20m bushels higher or lower, it is still tight," Jerry Gidel, chief feed grains analyst at broker Rice Dairy, said.
And even if stocks are larger there appears, after a poor South American harvest earlier in 2013, plenty of demand both abroad and in the US to mop up extra supply, as highlighted in export sales data on Thursday.
"Total sales now stand at 77% of the total USDA is projecting for the entire 2012-13 crop year," Darrell Holaday at Country Futures said.
Indeed, this is why even with thoughts that the ongoing harvest will prove larger than officials are counting on, extra production "will just simply be pushed into the export projection", he added.
Corn conundrums
For corn, however, there is less resilient demand to count on to.
Market estimates for data on US soybean stocks, Sept 1
Average estimate: 131m bushels
Highest estimate: 152m bushels
Lowest estimate: 110m bushels
Current USDA figure: 130m bushels
Year-ago figure: 215m bushels
Sources: USDA, ThomsonReuters
Corn exports are already at a trickle, falling to all of 368 bushels in the latest week, or "a semi and a half", as Don Roose, president of US Commodities put it, meaning, for Brits, one and a half large lorry loads.
And it is in corn that the big issues with September 1 inventories have appeared.
Two years ago, the USDA attracted criticism for coming in with a corn stocks figure which was 20% above both market forecasts and farm officials’ own number issued earlier that month.
Last year was not much better, with the USDA hiking its figure by 208m bushels from that in the monthly Wasde crop report issued three weeks earlier.
Investors were at least partly prepared that time, forecasting some rise in the inventory figure. But the extent of the hike was well above the 42m bushels they had factored in.
Old vs new
Plenty of reasons have been cited for causing the data surprises, ranging from substitution with Canadian wheat imports, to improved ethanol plant efficiency, to poor crop quality which left stacks of grain loaded up in barges in the Mississippi, waiting for better-quality grain to be mixed with.
But a main complication has been worries that farmers are confusing old crop with new – counting total on-farm inventories as of September 1, rather than just those left over from the previous harvest.
"Elevators have no excuse for wrong data. It’s a warehouseman’s job to know exactly what he has in store," Mr Gidel said.
And this year’s early harvest has only made the potential for crop confusion stronger, despite refinements by the USDA to the way it collects its information.
"If the USDA gets bad data in, it is going to have bad data coming out," Mr Gidel said.
‘Confuse the issue’
And that’s not all that investors have to consider, especially in years like 2012 with early harvests.
Even if inventories of old crop corn come in unexpectedly high, that could be down to substitution in feed and ethanol mills with crop straight off the combine, rather than there actually being larger-than-expected supplies.
"It does confuse the issue, the early harvest," Dan Cekander at Chicago broker Newedge said.
Feed puzzle
Another potential anomaly is thrown up by attempting to work through the data using the June 1 stocks number, and factoring in exports and ethanol usage since, numbers which are pretty well covered by weekly data.
Market estimates for data on US wheat stocks, Sept 1
Average estimate: 2.278bn bushels
Highest estimate: 2.533bn bushels
Lowest estimate: 2.159bn bushels
Year-ago figure: 2.147bn bushels
Sources: USDA, ThomsonReuters
"The result is 170m bushels of corn usage for feed over the three summer months," Mr Gidel said.
"That’s 60% down on last year, which was itself considered a low figure," with the number historically being nearer 700m bushels.
OK, estimates for the summer feed number differ, with US Commodities putting it at 320m bushels.
But as the broker pointed out, "it is not as if we have had a huge change in livestock numbers".
‘The market fear…’
Whatever, when the data comes out, "the market fear is that the corn number is high", Mr Cekander said.
"Prices will come down hard if we see corn stocks of 1.35bn bushels," some 240m bushels above market expectations.
Still, it may take some going for values to go limit down after the report, as last year, US Commodities’ Mr Roose said.
"People are expecting a bearish report," a big factor in corn price declines which have reached 12% in Chicago so far this month.
"But that may mean that we need a large stocks number on Friday to get a further negative price reaction.
Price low?
Indeed, it could be that the corn market is close to "posting an intermediate low", Mr Roose added.
Still, that could depend on harvest pressure too, and the next USDA Wasde crop report, in October.
And with potential revisions to harvested acres and crop yield to think about in that briefing, that is a whole other ball game.
http://www.agrimoney.com/feature/ag-inv … –170.html
Statistics: Posted by yoda — Fri Sep 28, 2012 6:16 am
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Agriculture • USDA Manipulating Grain Prices Down
Just one example of the USDA working against US farmers in two clips from this week
http://www.thecropsite.com/news/11968/e … has-peaked
USDA left Australian wheat production unchanged at 26 million tonnes while the market fully expected a cut due to the recent estimate by ABARES down to 22.50 million tonnes.
http://www.agrimoney.com/news/anz-downg … -4986.html
Australia & New Zealand Bank set a fresh low for expectations for the Australian wheat crop, whose woes are gaining increasing global market attention, warning that dryness has put it on course for a five-year low.
Paul Deane, senior ag economist at ANZ, said that the bank was expecting an Australian wheat crop of about 20m tonnes, some 3m tonnes below its previous forecast
Statistics: Posted by yoda — Sat Sep 15, 2012 7:32 am
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Agriculture • Prospects ‘not good’ for much winter wheat – USDA
Prospects ‘not good’ for much winter wheat – USDA
Drought, having hurt US corn and soybean yields, is threatening prospects for a large part of the winter wheat area too, posing potential setback to growers and denying a lifeline to cattle farmers.
Many US wheat farmers lease young crops for cattle grazing in the spring and winter – an option which, while typically cutting yields by some four-to-five bushels per acre, on Oklahoma State University estimates, looks set to be in demand from livestock owners given the expense of alternatives.
"It could provide a lower-cost option for growing feeder cattle to feedlot-placement weight," US Department of Agriculture analyst Rachel Johnson said.
Besides the boost to feed costs provided by near-record corn and soybean prices, and elevated wheat values, livestock farmers face soaring costs of in alternative fodders too.
US prices of conventional hay, that is, excluding alfalfa types, soared 7.5% in July to $143 a tonne, as the lowest yields since 1988 sapped production.
Meanwhile, pasture condition is at a record low, with only 17% rated by the USDA in "good" or "excellent" condition, the lowest figure on record, according to Rabobank.
‘Prospects are not good’
Some areas in the southern Plains "have received enough precipitation to raise hopes for wheat pasture for feeder calves this fall and winter", Ms Johnson said.
"However, prospects in most of the winter wheat area are not good especially in the western winter wheat area of the southern Plains."
The comments follow a caution from MDA EarthSat Weather over the prospects for winter wheat sowings, particularly in the hard red winter wheat states of Kansas, the top grower, Colorado, Nebraska, Oklahoma and Texas.
"It doesn’t look good for fall planting of wheat," Kyle Tapley, MDA EarthSat Weather meteorologist, said.
High feed vs poor pasture
The drought is seen as having thwarted cattle farmers’ plans to rebuild herds, with Ms Johnson noting that a USDA cattle report released late last month "indicated that expansion plans have been temporarily suspended".
The retrenchment is also seeing farmers cull cows in favour of taking on extra heifers which, while given their immaturity less productive breeders, are cheaper to maintain.
A further insight into US cattle herd dynamics will be offered later when the USDA unveiled cattle on feed numbers, showing the population of animals in feedlots as of the start of August, and the number sold and taken on in July,
The report will offer a partial answer to the question of "what is worse, high feed prices or poor pasture conditions", Paragon Economics and Steiner Consulting said.
Poor pasture incentivises ranchers to sell cattle for feedlots to fatten.
However, high feed prices act as an incentive for feedlots to cutback and, indeed, Friday’s report is expected to show them taking in 8.6% fewer cattle than in July 2011, but selling 1.6% more.
http://www.agrimoney.com/news/prospects … -4889.html
Statistics: Posted by yoda — Fri Aug 17, 2012 3:05 pm
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Agriculture • USDA Corn production outlook report august 10 2012
WEDNESDAY, AUGUST 8, 2012
USDA Corn production outlook report august 10 2012
USDA Corn production outlook report august 10 2012 : Analysts polled by Reuters are expecting a big reduction in yields and production in the USDA report on Friday. The analysts are expecting the U.S. corn crop to be the smallest in five years at 11.026 billion bushels, less than the USDA’s July estimate of 12.970 billion.
The drought’s impact on soybeans is likely to be less severe, analysts said, reflecting the recent crop-friendly weather that has arrived during the oilseed’s critical yield-setting development phase.
Further rains in U.S. grains regions are expected on Wednesday and Thursday. World Weather Inc said rainfall of 0.50 inch to 1.0 inch is now forecast in Missouri, west-central Illinois, western and southern Iowa and southern South Dakota.
Earlier forecasts had predicted rains at between 0.2 inch and 0.75 inch for the region.
"The rain could help part of the U.S. soybean crop which has been progressing very quickly and rain could boost yields or prevent more yield losses in the states that get wetter weather," FitzPatrick said.
"But I do not think the rain at a late stage will cause a major change in the outlook for the U.S. soybean crops as the rain has not covered all the Midwest."
In its most recent crop report, the USDA said 29 percent of soybeans remained in good-to-excellent condition for the week ended Aug. 5, snapping six straight weeks in which the crop’s health had deteriorated.
"U.S. markets are easing as continued rains are forecast to reach areas of the Midweast corn and bean belt," Miralles said. "Corn demand rationing is the key market focus and much will depend on how aggressive the USDA cuts its crop estimates in Friday’s report."
http://indonsia-stock-exchange.blogspot … eport.html
Statistics: Posted by yoda — Thu Aug 09, 2012 8:19 am
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Agriculture • USDA: Corn condition drops 9 percentage points
USDA: Corn condition drops 9 percentage points
Angela Bowman, Staff Writer | Updated: July 16, 2012
The current weather pattern is repeating a destructive cycle of excessive heat and few chances at any precipitation, and the USDA showed the impact of the drought in its weekly Crop Progress report. According to the report, corn conditions dropped by 9 percentage points this week, marking the sixth consecutive week of deteriorating conditions. Soybeans weren’t far behind, dropping by 6 percentage points.
Specifically, the percentage of corn in "good" or "excellent condition is now 31 percent, compared to 40 percent last wee
Very Poor
Poor
Fair
Good
Excellent
This week
16
22
31
27
4
Last week
12
18
30
34
6
Last year
4
7
23
50
16
Corn: Silking almost complete, conditions still bad
The report showed that corn silking is now 71 percent complete, well above last year’s pace of 28 percent and up by 21 percentage points from last week’s report. Corn has also been reported in the dough stage in 12 percent of the crops, compared to the five-year average of 4 percent.
States are also struggled against the destructive weather conditions. Three states reported at least 70 percent of their corn in poor to very poor condition – Indiana (71 percent), Kentucky (77 percent) and Missouri (72 percent). These states also struggled in the 1988 drought:
cont
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Statistics: Posted by yoda — Tue Jul 17, 2012 12:19 am
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Agriculture • Grains Higher Post USDA Supply/Demand Report
Markets higher post USDA Supply/Demand report
Doane Advisory Services | Updated: July 12, 2012
Corn futures are trading 8 to 12 cents higher early morning. Corn prices are higher this morning after the market readjusted to USDA’s corn yield reduction. USDA lowered its corn yield average to 146 bushels/acre, 20 bushels lower than the previous month’s estimate. A reduction of this magnitude lowers estimated corn production to approximately 13 million bushels. Weather also remains a supportive factor, although forecasters are calling for weekend rains across the Midwest.
Soybean futures are trading 4 to 6 cents higher early morning. Soybean futures remain under pressure for the third day after posting record gains on Monday. Although yesterday’s supply/demand report was bullish for the market, prices plummeted as traders took profits and weather forecasts across the Midwest improved. USDA slashed soybean yield projections to 40.5 bushels/acre due to drought conditions. However, bullish fundamentals and strong demand for soy products should renew buying interest in the market.
Wheat futures are trading 6 to 10 cents higher early morning. Wheat futures traded steady in the overnight session after a volatile day of trading on Wednesday. The market is being pulled higher the upturn in the corn market, a firm global cash market, and a bullish report for U.S. wheat. USDA reported U.S. ending stocks lower than expected at 664 million bushels. On a class by class basis, the report showed spring wheat forecasts below trade expectations at 435 million bushels. Globally the report was neutral for prices as ending stocks were reported close to pre report averages.
Cattle futures are called to open lower. Cattle futures will open under pressure after suffering moderate losses on Wednesday. Undeveloped cash trade and tumbling boxed beef prices will have cattle futures on the defensive this morning. Cash trade has been sluggish most of the week and is not anticipated to pick up until Friday. Asking prices are reported around $119 in the South and $190 in the north.
Lean hogs futures are called to open mixed this morning. The market is expected to open on both sides of the market this morning. Futures premium to the cash index and market short covering should support help to lift prices. Expected steady cash prices and packer need to procure more hogs will also support market prices. On the other hand, bearish market factors such as waning demand and declining pork cutout value will keep market gains in check.
Cotton futures are trading mixed early morning. Cotton futures are currently trading mixed but mostly lower. Cotton prices closed higher on Wednesday, although lower than early morning highs, after USDA lowered world supply projections. However, lackluster demand for cotton and global economic uncertainty continue to pressure market prices.
http://www.cattlenetwork.com/cattle-new … 93095.html
Statistics: Posted by yoda — Thu Jul 12, 2012 8:26 am
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Agriculture • Mad Cow Reported, USDA Filling in Details
Mad Cow Reported, USDA Filling in Details
USDA conducts conference over potential case of BSE. More details to follow. Video Q & A added.
Willie Vogt
Published: Apr 24, 2012
NOTE: This file has been updated with the statement from USDA Chief Veterinarian John Clifford – it begins at the end of the story.
In a press call this afternoon, USDA talked through a reported find of an animal infected with bovine spongiform encephalopathy – or mad cow – in the United States. Found in a pre-rendering inspection, the animal was found in California.
The animal is a dairy cow from Central California and it is expressing what USDA is calling an "atypical" case of the disease, which means it may not have come from the typical means of transmission. The animal was found in a pre-rendering test at a rendering facility. It’s meat did not enter the food chain and the carcass will be destroyed. USDA Chief Veterinarian John Clifford did not have information about whether the animal was alive when collected by the renderer.
USDA is conducting an investigation into the incident and notes that notification of trading partners has begun. However, officials note that this case "should not" impact trade given the current U.S. status under OIE for BSE. However, the United States is in delicate negotiations with the Japanese to raise the acceptable age of animals harvested for export to that country. How this news will impact those talks remains to be seen.
Little detail is available on the dairy cow. The investigation will look into the age of the animal, whether it was dead when collected by the renderer and other details.
BSE FIND? USDA is conducting an investigation into a detection of a BSE-infected dairy cow that was discovered by a renderer during routine testing.
Domestic market impact, however, over the rumor has been deeper. Prices fell $3 per hundredweight from the morning nearby contract price for live cattle at $119.90. Markets locked limit down the $3 daily limit in the final 25 minutes of trade.
Adds Farm Futures Market Analyst Arlan Suderman: "The markets were very vulnerable due to a large ownership of live cattle futures by speculative fund managers, who quickly headed to the sideline with the rumor hit."
Feedgrain prices slipped as well, with corn dropping 10 cents and soybeans sliding modestly off multi-year highs set late in the session of $14.67-1/2.
This is the fourth confirmed case of BSE in the United States since the famous "Christmas surprise" of 2003, when an infected cow was found in a Washington dairy, in an animal that had come from Canada.
Chief Clifford’s statement follows:
Statement by USDA Chief Veterinary Officer John Clifford Regarding a Detection of Bovine Spongiform Encephalopathy (BSE) in the United States Assures Consumers That Existing Safeguards Protected Food Supply; Reiterates Safety of Consuming Beef Products
WASHINGTON, April 24, 2012 – USDA Chief Veterinary Officer John Clifford today released the following statement on the detection of BSE in the United States:
"As part of our targeted surveillance system, the U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) has confirmed the nation’s fourth case of bovine spongiform encephalopathy (BSE) in a dairy cow from central California. The carcass of the animal is being held under State authority at a rendering facility in California and will be destroyed. It was never presented for slaughter for human consumption, so at no time presented a risk to the food supply or human health. Additionally, milk does not transmit BSE.
"The United States has had longstanding interlocking safeguards to protect human and animal health against BSE. For public health, these measures include the USDA ban on specified risk materials, or SRMs, from the food supply. SRMs are parts of the animal that are most likely to contain the BSE agent if it is present in an animal. USDA also bans all nonambulatory (sometimes called "downer") cattle from entering the human food chain. For animal health, the Food and Drug Administration (FDA) ban on ruminant material in cattle feed prevents the spread of the disease in the cattle herd.
"Evidence shows that our systems and safeguards to prevent BSE are working, as are similar actions taken by countries around the world. In 2011, there were only 29 worldwide cases of BSE, a dramatic decline and 99% reduction since the peak in 1992 of 37,311 cases. This is directly attributable to the impact and effectiveness of feed bans as a primary control measure for the disease.
"Samples from the animal in question were tested at USDA’s National Veterinary Services Laboratories in Ames, Iowa. Confirmatory results using immunohistochemistry and western blot tests confirmed the animal was positive for atypical BSE, a very rare form of the disease not generally associated with an animal consuming infected feed.
"We are sharing our laboratory results with international animal health reference laboratories in Canada and England, which have official World Animal Health (OIE) reference labs. These labs have extensive experience diagnosing atypical BSE and will review our confirmation of this form of the disease. In addition, we will be conducting a comprehensive epidemiological investigation in conjunction with California animal and public health officials and the FDA.
"BSE is a progressive neurological disease among cattle that is always fatal. It belongs to a family of diseases known as transmissible spongiform encephalopathies. Affected animals may display nervousness or aggression, abnormal posture, difficulty in coordination and rising, decreased milk production, or loss of body weight despite continued appetite.
"This detection in no way affects the United States’ BSE status as determined by the OIE. The United States has in place all of the elements of a system that OIE has determined ensures that beef and beef products are safe for human consumption: a mammalian feed ban, removal of specified risk materials, and vigorous surveillance. Consequently, this detection should not affect U.S. trade.
"USDA remains confident in the health of the national herd and the safety of beef and dairy products. As the epidemiological investigation progresses, USDA will continue to communicate findings in a timely and transparent manner."
http://farmprogress.com/farmer-stockman … et-8-59245
Statistics: Posted by yoda — Tue Apr 24, 2012 1:40 pm
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Agriculture • USDA Fuzzy Math Emerges Again
The farm agency had to make plenty of assumptions to keep U.S. corn stocks above 800 million bushels.
http://farmfutures.com/story.aspx/usda- … n-17/58801
Statistics: Posted by yoda — Tue Apr 10, 2012 12:22 pm
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