As reported by the Pueblo Chieftain’s Aug. 15, 2010, article, Colorado’s Arkansas and Gunnison Basin Roundtables are working on a joint proposal to use the Bureau of Reclamation’s Blue Mesa Reservoir for potential Colorado River Compact calls by Arizona, California and Nevada.
The “outside markets” were the fly in the ointment of the ag commodity markets this week. The European debt crisis, the slumping stock market and sharply lower oil prices pressured all the markets we watch during the past week.
What would I asked for if I could have a dream rodeo rig?
Less corn and more soybeans than expected; that was the gist of Tuesday morning’s Crop Production and Supply and Demand reports from USDA. USDA now projects there will be 1.738 billion bushels remaining in the nation’s grain bins at the close of the marketing year this fall.
Fast-moving corn planters, a stronger dollar and weak outside markets resulted in mostly lower grain prices this week. May Corn futures were down eight cents compared to last Tuesday, with the July contract down more than 11 cents and new-crop December off more than 16. On Monday, USDA reported that 50% of corn acreage had been planted, compared to 19% last week and the five-year average of 22%. The stronger dollar was feared to be cutting into already weak exports and the collapse of the stock market and drop in oil prices on Tuesday also pressured corn values.
Corn farmers must have had jet engines strapped to their tractors this past week, as the pace of corn planting hit high gear.
“Echoing” from an actual rodeo road trip, this column is to give a sincere salute to rodeo committee members everywhere and a group of rodeo committee members in particular—those from RodeoHouston.
Grain prices managed to rally modestly this past week, despite generally bearish reports released Friday by USDA. Friday’s Grain Stocks and Supply and Demand reports showed increased supplies of corn stocks compared to a month ago, although the increase was smaller than the average of pre-report estimates by about 10 million bushels.
The grain markets spent most of the past week lower, at least partially in response to the bearish Crop Production and Supply and Demand reports discussed here last week, but on Tuesday, grain markets moved higher and got back to within a few cents of last Tuesday’s prices.
Weak grain markets this past week set the stage for the monthly Crop Production and Supply and Demand reports released early Wednesday morning, March 10. At first glance, that report looks to be mostly bearish.
Livestock prices surged higher again this week, reacting mostly to tighter supplies brought about by severe winter weather and multi-year reductions in the breeding herd. Feeder Cattle futures led the way this past week, as the March contract gained $1.22 compared to last Tuesday, while the April was up $1.95 and October gained $2.10. Tightening supplies of feeders and improved fed cattle prices both lent strength to the feeder market
Cattle values were mostly higher again this week, with cash fed cattle jumping three bucks in just one week.
In today’s economy, one factor - joblessness - remains the most vital factor one can consider when assessing whether our local and regional economies are on the rebound from the worst economic slump since the Great Depression.
Cattle prices have moved sharply higher this week, making the third week in a row of higher cash and futures values, with a fourth week of higher cash seeming likely.
State Rep. Kathleen Curry (D-Gunnison) and a group of legislators on the Colorado House Judiciary Committee have launched a multi-pronged attack on private property rights in Colorado. House Bill 1188, introduced by Rep. Curry and passed by the House Judiciary Committee on Monday constitutes a statutory right to trespass on private property and overturns decades of Colorado case law and state statute.
I guess you could say it’s just like walking a dog. If your dog weighs over 700 pounds and will take any necessary and often destructive means to get far, far away from you.
