USDA's weekly Crop Progress report includes estimates of the condition of U.S. range and pasture land and this year's ratings have been among the best in many years.
Only 1995 saw range and pasture ratings that were better than those seen this year. P/VP ratings topped out at 27% in the summer of 1995, second only to last year's maximum of 23% which was driven by exceptionally cool temperatures in most of the U.S. Of the major cow-calf regions, only the Southeast states are seeing any real degree of range and pasture stress at this point and even there only 20% of the acres are rated as P/VP. P/ VP ratings are even better than that in the West (12%), Great Plains (3%) and Southern Plains (10%). Those four regions account for 85% of the nation's beef cows.
Pasture condition can be a major driver of beef cow liquidation in some years but it is certainly not a factor in 2010. USDA's weekly Crop Progress report indicates the condition of both the corn and soybean crops remained relatively steady this week. The percentage of corn acres rated good or excellent )G/Ex) fell by 1% to 72% this week, still 1% higher than last year. Soybean acres rated G/Ex increased 2% last week to 67%, 1% below the 2009 level for this week.
Perhaps more important at this stage, USDA estimates that 65% of corn acres are silking, a pace FAR AHEAD of last year's 30% and well ahead of the 2005-2009 average of 47%. The biggest differences between 2009 and 2010 are in the eastern Cornbelt. Comparisons of silking percentages for 2010 vs. the same week in '09 are 81% vs 26% in Indiana, 89% vs. 24% in Illinois, 75% vs 30% in Ohio and, get this, 65% vs 4% in Michigan. Reuters reported yesterday that the average yield estimate of 18 surveyed analysts rose 0.2 bushels form last week to 163.5 bu/acre. That is the same number that USDA has used in its June and July World Agricultural Supply and Demand Estimates (WASDE).
The analysts' estimates ranged from 158.8 to 167.0. Last year's record yield was 164.7 bu/acre. An estimated 60% and 18% of soybean acres were blooming and setting pods, respectively, as of last week. Those numbers compare to 40% and 8% one year ago.
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USDA's weekly Crop Progress report includes estimates of the condition of U.S. range and pasture land and this year's ratings have been among the best in many years.
Only 1995 saw range and pasture ratings that were better than those seen this year. P/VP ratings topped out at 27% in the summer of 1995, second only to last year's maximum of 23% which was driven by exceptionally cool temperatures in most of the U.S. Of the major cow-calf regions, only the Southeast states are seeing any real degree of range and pasture stress at this point and even there only 20% of the acres are rated as P/VP. P/ VP ratings are even better than that in the West (12%), Great Plains (3%) and Southern Plains (10%). Those four regions account for 85% of the nation's beef cows.
Pasture condition can be a major driver of beef cow liquidation in some years but it is certainly not a factor in 2010. USDA's weekly Crop Progress report indicates the condition of both the corn and soybean crops remained relatively steady this week. The percentage of corn acres rated good or excellent )G/Ex) fell by 1% to 72% this week, still 1% higher than last year. Soybean acres rated G/Ex increased 2% last week to 67%, 1% below the 2009 level for this week.
Perhaps more important at this stage, USDA estimates that 65% of corn acres are silking, a pace FAR AHEAD of last year's 30% and well ahead of the 2005-2009 average of 47%. The biggest differences between 2009 and 2010 are in the eastern Cornbelt. Comparisons of silking percentages for 2010 vs. the same week in '09 are 81% vs 26% in Indiana, 89% vs. 24% in Illinois, 75% vs 30% in Ohio and, get this, 65% vs 4% in Michigan. Reuters reported yesterday that the average yield estimate of 18 surveyed analysts rose 0.2 bushels form last week to 163.5 bu/acre. That is the same number that USDA has used in its June and July World Agricultural Supply and Demand Estimates (WASDE).
The analysts' estimates ranged from 158.8 to 167.0. Last year's record yield was 164.7 bu/acre. An estimated 60% and 18% of soybean acres were blooming and setting pods, respectively, as of last week. Those numbers compare to 40% and 8% one year ago.
