Going Green

Thursday, December 20, 2007

USDA's Chuck Conner on 2008 Outlook

The market works if we let it.

USDA's Conner: Crop supplies "dicey" in 2008

By Charles Abbott

WASHINGTON (Reuters) - U.S. farmers will win the race to grow enough corn, wheat and soybeans to satisfy food, feed and biofuel needs although 2008 will be "very dicey," said acting Agriculture Secretary Chuck Conner on Thursday.

"I would never bet against our farmers on this issue," Conner said in looking ahead to 2008 crops. For the second year in a row, zooming demand for U.S. crops will require...(complete article here).

Cattle feeders are facing a tough year in 2008. Because of the limited fall and winter grazing, calves went to the feed lots earlier and lighter than normal. It will create a wall of beef going to the packer next summer and a hole in feeder cattle supplies. The market will go crazy.

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