Agribusiness Update for Tuesday 2/5/13

Agribusiness Update for Tuesday 2/5/13

This is the Agribusiness Update...I’m Greg Martin...

Based on customer feedback and a formal survey of market participants - CME Group Inc. has decided to reduce trading hours for its grain and oilseed futures and options contracts. This will reverse the decision made last year to extend electronic trading hours from 17 to 21 hours each day. According to a letter to CME customers - more specifics will be released in the coming weeks.

According to USDA’s 2013 Cattle report - the nation’s total cattle inventory dropped another two-percent during 2012. The herd totaled 89.3-million head and marks the lowest January 1 inventory of all cattle and calves since 1952. At 29.3-million head - beef cattle are down three-percent from a year ago.

Paul Harvey has once again made a major impact on the U.S. and this time from beyond the grave. The Super Bowl ad that features Harvey talking about the American farmer is getting rave reviews from the ag community and Dodge may have just inadvertently helped bring more attention the plight of the farmer than any other campaign in recent history.

That’s today’s Agribusiness Update from the Ag Information Network. 

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