In today’s roundup, get caught up on the latest USDA Supply and Demand Report, advice to prepare for planting, and the spike in egg prices.
USDA Supply and Demand Report
Friday’s World Agricultural Supply and Demand Estimates wasn’t a big market mover.
“Today’s report matched trade expectations that the USDA would underestimate supply losses from the South American drought and the Russian invasion of Ukraine,” says Sal Gilbertie of Teucrium Funds. “The markets remain firm and will watch weather and look ahead to the May WASDE for future price direction.”
Watch the video below for reported numbers in the United States, Brazil, and Argentina.
Soil temperature is one of the most important factors crop farmers use to guide their planting decisions.
The rule of thumb is to wait until the upper 4 inches reach at least 50˚F., with a warming trend in the forecast.
Although farmers can plant whenever they like, doing so when the soil is cooler than 50˚F. increases the chances of damage to the seed and plant, and the potential that replanting may be necessary.
Avian Influenza and Egg Prices
Egg-laying hens account for two of every three birds that have died of highly pathogenic avian influenza or in culling of infected flocks.
However, Agriculture Secretary Tom Vilsack says Americans will not run out of eggs in the ongoing outbreak of bird flu, the worst since 2015.
Some 4% of the U.S. layer flock has died in the two months since the first confirmation of HPAI on February 8. Often volatile, egg prices surged by 52% during the outbreaks.