That value allowed domestic ham consumption to increase by 1% per year, or stay steady on a per capita basis. Ham prices in 20 averaged 64-65 cents per pound for an annual average. Generally speaking, the declines in ham prices have been supportive of exports and expanded domestic use. The biggest decline (in percentage terms) was in July with a 28% drop. Double-digit percentage declines in ham prices year-over-year have been standard since May of last year. Ham prices last week were 21% lower than a year ago. Last year was unusual as priced trended lower after late January. Seasonally, ham prices usually move higher as January progresses, then tend to be about unchanged for the balance of the quarter. The last time weekly ham prices were this low was early October 2016. This is the lowest ham price for the first week of the year since 2009. with the largest feeding cost of gain occurring in March.Wholesale ham prices started out the year at 45 cents per pound, basis 23-27# Trimmed Selected Hams quoted by USDA’s Agricultural Marketing Service (AMS). Due to large increases in corn prices in recent months, projected feeding cost of gain for the first quarter of 2021 is expected to range from $83 to $87 per cwt. Average feeding cost of gain for the fourth quarter of 2020 is projected to be similar to that experienced in the third quarter. Feeding cost of gain for the third quarter averaged $77.75 per cwt. averaged $83.27 in the first quarter and $84.28 in the second quarter of 2020. in 2019 ranging from a low of $81.61 in October to $91.67 in March. Feeding cost of gain averaged $84.37 per cwt. Net returns were computed using feeding cost of gain from monthly issues of the Focus on Feedlots newsletter, fed cattle prices and feeder cattle prices reported by the Livestock Marketing Information Center (LMIC) ( here), and interest rates from the Federal Reserve Bank of Kansas City.įigure 1 illustrates monthly feeding cost of gain from January 2010 to October 2020. Futures prices for corn and seasonal feed conversion rates were used to project feeding cost of gain for the next several months. Average daily gain, feed conversion, days on feed, in weight, out weight, and feeding cost of gain were obtained from monthly issues of the Focus on Feedlots newsletter ( here). Several data sources were used to compute net returns. Information pertaining to these payments can be found in the fact sheets listed in the citations. It is important to note that the net return estimates in this article do not include Coronavirus Food Assistance Program (CFAP) payments. This article updates feeding cost of gain, breakeven prices, and net return estimates for 2020 and provides projections for the first half of 2021. An earlier article ( farmdoc daily October 9, 2020) examined net returns for the first nine months of 2020. Illinois Farmland Leasing & Rental FormsĬOVID-19 and fluctuating fed cattle and feed prices resulted in another challenging year for cattle finishers.Illinois Crop Budgets & Historic Returns.Farmland LEasing Facts Sheets & Pricing Information. Illinois Soil Productivity & Yield Utilities.Briomass Crop Budget Tool – Miscanthus & Switchgrass.Appraisal of Current Financial Position.Balance Sheet & Historical Financial Statements.Post Application Coverage Endorsement Tool (Sheet).Precision Conservation Management (PCM).
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