February WASDE report released

Combine_CornDump_blogPork production estimates are down thanks in part to porcine epidemic diarrhea virus (PEDV), while other commodities are estimated to see higher exports, according to the U.S. Department of Agriculture’s February World Agricultural Supply and Demand Estimates (WASDE).

PEDV, which was first reported in the U.S. last spring and has since spread to Canada, is significantly impacting pork producers as the virus has a high mortality rate, especially for younger animals. PEDV is not transmissible to humans and is not a food safety concern.

Elsewhere in the report, USDA reports that projected food use has increased 10 million bushels. Other highlights from the report include:

  • U.S. wheat ending stocks for 2013 and 2014 are estimated at 50 million bushels less because of exports and higher-than-projected food use.
  • While U.S. feed grain stocks for 2013 and 2014 are estimated to be lower, a 150 million bushel increase in corn exports is expected. The average price for corn has jumped 10 cents, to $4.20 to $4.80 a bushel.
  • Global grain consumption also increased by 5 million tons, with the European Union, South Korea, Egypt and Canada taking in more corn, while sorghum feeding increased in China.
  • 2014 cattle prices have increased from January due to price strength and supplies.

The WASDE is released monthly and can be found here.

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