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Beef industry Conference an opportunity for Canadian producers

The beef industry will be hosting a major get-together next week with the Canadian Beef Industry Conference getting underway in Saskatoon.

It'll be the first time for the city to host the conference, which includes meetings and presentations by numerous important figures in Canada's beef industry.

Scott Wright, a co-host of the Canadian Beef Industry Conference for 2024, says it's a great opportunity for the city and the province.

"This is an incredible opportunity for Saskatchewan. It's the first time the Canadian Beef Industry Conference has come to Saskatchewan since its initiation in 2016. This conference is founded by really the pillars for this industry. In addition to the Beef Cattle Research Council we have Canada Beef, which is really the marketing outward-facing or producer-facing side. The Canadian Beef Breeds Council, which is the genetic component that makes our herd right across the country. The Canadian Cattle Association, really the advocacy-driven or the policy side of the world."

 

Wright says he expects to see a fair few topics being discussed at the event's many meetings.

"Current topics range all the way from, and we know the pillars, we'll talk competitiveness, we'll talk about productivity, we'll talk about environmental opportunity, we'll talk about economics, we'll talk about socia impact those current pieces are all there."

People interested in the market will get the opportunity to ask questions of experts through their "Ask Me Anything" panels.

"The Ask Me Anything, expert conversations that will go on Wednesday and Thursday morning, those opportunities to ask the experts, industry experts, researcher, experts basically, folks from right across North America, you can ask a vet, you can ask a nutritionist, you can ask our young leaders group, you can ask any number of cross-section questions. strongly recommend that you don't miss it."

 

"There'll be insights on everything from seeding your feeding your animal, supporting your grass, and your grassland, responding to the environmental conditions that we've got in front of us and creating sustainability over the long term."

Anyone looking for more info can find it on their website at Canadianbeefindustryconference.com.

Wright says he hopes to see plenty of people taking advantage of the opportunity this conference brings.

"This is a tremendous opportunity. It's an opportunity for the city of Saskatoon, for the University of Saskatchewan. It's a larger opportunity for the industry, for producers, for the components that really move this industry forward. Above all, it's an opportunity to take value home and learn from it."

Source : Pembinavalley online

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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