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June Corn Prices Up, Soybean Prices Unchanged

June Corn Prices Up, Soybean Prices Unchanged

Milk price, egg production, beef inventory up, too, while fed cattle marketings drop.

The Minnesota Field Office of USDA's National Ag Statistical Service reports that prices received by Minnesota farmers for June corn averaged $6.10 per bushel, an increase of $0.04 from the May price. Soybeans, at $13.70 per bushel, are unchanged from the May price.

The all-milk price for June, at $17.40 per cwt., is up $0.10 from the May price.

June Corn Prices Up, Soybean Prices Unchanged

Cattle and calves on feed for slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.7 million head on July 1. The inventory was 3% above July 1, 2011. The inventory included 6.74 million steers and steer calves, up 4% from the previous year. This group accounted for 63% of the total inventory. Heifers and heifer calves accounted for 3.92 million head, up1% from 2011.

Placements in feedlots during June totaled 1.66 million, 2% below 2011. Net placements were 1.60 million head.

Marketings of U.S. fed cattle during June totaled 1.97 million, 6% below 2011. This is the lowest fed cattle marketings for the month of June since the series began in 1996.

Minnesota layers produced 234 million eggs during June 2012, up from 231 million in June 2011, an increase of 1%. Laying flocks in the U.S. produced 7.50 billion eggs in June, down slightly from a year ago.

Total Minnesota mink pelt production for 2011 totaled 214,060 mink pelts, up 7% from 199,730 pelts in 2010. Minnesota ranks fifth in 2011 pelt production behind Wisconsin, Utah, Idaho and Oregon.

Mink pelt production in the United States in 2011 totaled 3.09 million pelts. Wisconsin, the largest mink producing State, produced 1,050,580 pelts. Utah, the second largest producing State, produced 698,960 pelts. Value of pelts produced in the United States during the 2011 production year was $292 million, up 25% from $233 million a year ago. The average price per pelt was $94.30, up $12.40 from $81.90 in 2010.

Source: Minnesota Field Office, USDA-NASS

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