Weekly Hay Auction Report

Rock Valley Hay Auction for Thursday, Nov 29, 2018

Receipts:  53 loads    Last Week:  50 loads    Last Year:  87 loads

Alfalfa:  Supreme:  Large Squares, 1 load 187.50; Large Rounds, 1 load 185.00. Premium: Large Rounds, 3 loads 157.50-175.00. Good: Large Rounds, 9 loads 142.50-157.50.  Fair: Large Rounds, 7 loads 127.50-137.50.  Utility: Large Rounds, 3 loads 122.50-125.00.

Grass:  Premium:  Large Rounds, 9 loads 160.00-175.00. Good: Large Rounds, 10 loads 145.00-157.50. Fair: Large Rounds, 4 loads, 135.00-142.00. Utility: Large Rounds, 1 load 115.00.

Alfalfa/Grass Mixed: Good: Large Squares, 1 load 127.50; Large Rounds, load 137.50.

Straw:  Large Rounds, 1 load 130.00.

Cornstalks:  Large Rounds, 4 loads 55.00-62.50.

Iowa Ag News Reports Prices Up In October

The average price received by farmers for corn during October in Iowa was $3.39 per bushel according to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report. This was up $0.10 from the September price and $0.16 above a year ago.
The October 2018 average price received by farmers for soybeans, at $8.71 per bushel, was up $0.27 from the September price but $0.44 below the October 2017 price.
The October average oat price per bushel was $2.99, up $0.26 from September and $0.20 above October 2017.
All hay prices in Iowa averaged $128.00 per ton in October. This was up $20.00 from the September price and $28.00 above the October 2017 price. The October 2018 alfalfa hay price averaged $135.00, up $26.00 from the previous month and $29.00 above October 2017. The average price received for other hay during October was $117.00 per ton. This was up $14.00 from the September price and $26.00 above the October 2017 price.
The average price for milk was $17.90 per cwt, up $0.50 from the September price but $0.70 below one year ago.

Time To Visit Your Lender? Things You Should Prepare For Before Walking Into That Meeting

The I-29 Moo University is hosting a webinar on Thursday, December 20 that will focus on preparing the information that lenders will ask for. The “Improving Conversations With Your Lender” webinar will outline and explain the banking benchmarks and financial documents that lenders need to evaluate loans. The webinar is scheduled for 60 minutes beginning at 11 a.m. and will include time for questions at the end of the webinar.

Continue reading “Time To Visit Your Lender? Things You Should Prepare For Before Walking Into That Meeting”

Weekly Hay Auction Report

Rock Valley Hay Auction for Monday, Nov 26, 2018

Receipts:  36 loads    Last Week:  24 loads    Year Ago:  65 loads

Alfalfa:  Premium: Large Rounds, 1 load 165.00. Good: Large Rounds, 7 load 140.00-147.50. Fair: Large Rounds, 6 loads 130.00-137.50.

Grass:  Premium: Large Rounds, 4 loads 150.00-155.00. Good:  Large Rounds, 3 loads 137.50-145.00. Fair: Large Rounds, 7 loads, 125.00-130.00. Utility: Large Rounds, 1 load, 97.50

Alfalfa/Grass Mix: Good: Large Rounds, 1 load 140.00.

Straw: Scarce.

Corn Stalks: Large Rounds, 6 loads 47.50-52.50.

Deadline Is Friday To Register For Dairy Discussions Program

Dr. Hugo Ramirez, ISU Extension Dairy Specialist, will outline the importance of consistency when handling animals and teaching employees the reasons for specific protocols. He will discuss why farm guidebooks and manuals are especially vital in a tight labor market.

The second topic is risk management education, especially information on the new Dairy Revenue Protection program, LGM, contracts and other risk management tools. Ron Mortensen from Dairy Gross Margin, LLC, will lead the discussion and answer questions.

Bob Naerebout, with the Idaho Dairymen’s Association, will discuss responsible immigration reform. His role with the Idaho Dairymen’s Association is to lead the IDA in its government affairs and he continues to serve on various national dairy industry boards. Many of those boards’ primary goal is to see responsible immigration reform successfully moved forward. Naerebout currently serves on the Executive Committees of both the National Immigration Forum and the Agricultural Coalition for Immigration Reform. He is also a committee member of the University of Idaho Latino Advisory Committee and the National Milk Producers Federation Immigration Taskforce. Through his engagements surrounding immigration reform, Naerebout and the IDA have become widely recognized as a leader in the immigration reform debate.

ISU Extension Dairy Specialist Fred M. Hall will discuss current trends in the milk market and offer some useful benchmarks for dairymen as they evaluate their enterprise.

The day will begin with registration at 9:00 a.m. at the ISU Extension and Outreach Sioux County office located at 400 Central Avenue Northwest in Orange City, and will conclude around 2:00 p.m.

There is no registration fee, but pre-registration is required by calling the ISU Extension and Outreach Sioux County office at 712-737-4230. Deadline for registration is 12:00 noon on Friday, November 30.





Milk Price Forecast Lowered By ERS

The November 15 Livestock, Dairy and Poultry Outlook from the USDA Economic Research Service showed September ending stocks indicate that third-quarter cold and dried-egg storage for U.S. animal protein commodities changed compared to 2017 as follows: beef (up almost 3 percent), pork (down nearly 5 percent), lamb (up almost 29 percent), broilers (up more than 17 percent), turkey (down less than 1 percent), eggs (down nearly 15 percent), cheese (up more than 4 percent), and butter (up almost 11 percent).

Continue reading “Milk Price Forecast Lowered By ERS”

Quick Facts About Dairy Revenue Protection

 Quick Facts About Dairy Revenue Protection (Dairy RP)

  • Dairy RP is a new RMA-backed crop insurance product which allows you to protect against falling milk prices.
  • Dairy RP is subsidized from 44% to 59%. The 95% coverage level will receive a 44% subsidy.
  • Dairy RP can be purchased any business day except holidays and 3 USDA dairy report days per month.
  • There are no milk production limits.
  • Premium due at end of the quarter.
  • It can be used even if you have MPP.
  • The pricing options include Class III, Class IV and components.
  • You can buy quarterly coverage for 5 quarters. For example, the first 5 quarters offered will be: Jan, Feb, Mar 2019 — April, May, June 2019 — July, Aug, Sept 2019 — Oct, Nov, Dec 2019 and Jan, Feb, Mar 2020.
  • There are no commissions or fees paid by you.

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