1 © 2012 Regents of the University of Minnesota. All rights reserved. The University of Minnesota is an equal opportunity educator and employer. In accordance with the Americans with Disabilities Act, this PowerPoint is available in alternative formats upon request. Direct requests to the Extension Store at Minnesota Livestock Economics Domestic and World Perspective Rob Holcomb, ABM University of Minnesota Extension

2 © 2012 Regents of the University of Minnesota. All rights reserved. CURRENT EVENTS  Big news last week was the Russian ban on meat imports out of the U.S., E.U., Canada and Australia. –What has the U.S. been exporting to Russia? –Who is a major supplier to Russia? –Back Door sales?????

3 © 2012 Regents of the University of Minnesota. All rights reserved. OCTOBER LIVE CATTLE

4 © 2012 Regents of the University of Minnesota. All rights reserved. OCTOBER FEEDER CATTLE

5 © 2012 Regents of the University of Minnesota. All rights reserved. CATTLE CONT.  July 25 th USDA Cattle on Feed Report was DOWN 2%  Fundamentals are supportive  Margin Management Critical

6 © 2012 Regents of the University of Minnesota. All rights reserved. OCTOBER HOGS

7 © 2012 Regents of the University of Minnesota. All rights reserved. HOGS CONT.  Growing supplies seen ahead – even though numbers into October are expected slightly less from effects of PEDv  Seasonal trend lower  Fundamentals weak  Lower feed costs help with margins

8 © 2012 Regents of the University of Minnesota. All rights reserved. DECEMBER MILK

9 © 2012 Regents of the University of Minnesota. All rights reserved. MILK CONT.  Slightly lower production combined with firm domestic commercial use and exports act to keep milk and dairy prices high this year. (USDA)  Cow numbers are forecast to rise in 2015, based on improved producer returns, leading to higher production. (USDA)  High milk production will likely lead to decreased prices in (USDA)

10 © 2012 Regents of the University of Minnesota. All rights reserved. RESOURCES Daily Livestock Report – CME Group USDA Website

11 © 2012 Regents of the University of Minnesota. All rights reserved. The University of Minnesota is an equal opportunity educator and employer. In accordance with the Americans with Disabilities Act, this PowerPoint is available in alternative formats upon request. Direct requests to the Extension Store at Rob Holcomb, EA Extension Educator, Ag. Bus. Mngt. University of Minnesota Extension Marshall, MN