Buong transkripsyon ng Milk Price Updates, Cattle Market CAB Report, John Deere Closing Plants

WEBVTT 00:00:10.480 --> 00:00:12.400 Everybody, welcome to Chat BDC. 00:00:12.480 --> 00:00:17.199 Here's the top stories from Blackbeard Daily today, which is Friday, November 6, 2026. 00:00:17.359 --> 00:00:23.920 Today we're gonna get a milk price update, uh market update from certified Angus beef, and then some John Deere news. 00:00:24.000 --> 00:00:25.199 So let's get to it. 00:00:25.440 --> 00:00:36.880 Starting off with an article on progressive dairy, October milk prices were reflective of what was seen in September, the class 4 milk price growing stronger and the class 3 milk price falling further. 00:00:37.119 --> 00:00:42.159 And in a change of course, class 2 milk prices rebounded for the first time in three months. 00:00:42.320 --> 00:00:53.439 In October USTA announcement of class and component prices released earlier this week, class two rose$1.55 a hundredweight to$19.15 per 100 weight. 00:00:53.679 --> 00:00:59.920 Class 4 climbed similarly up$1.60 per hundredweight to$20.54 per$100 weight. 00:01:00.079 --> 00:01:06.239 But Class III stumbled$0.88 from the previous month to$15.16 per hundredweight. 00:01:07.120 --> 00:01:15.680 As announced previously on September 23rd, the Federal Milk Marketing Order Advanced Class 1 price came in at$18.88 a hundredweight. 00:01:15.920 --> 00:01:29.280 In October, that was a price improvement of a buck eighty-four per hundredweight from the previous month and 84 cents per hundredweight above the advanced class one price that was announced in October for October 2025. 00:01:30.799 --> 00:01:42.640 At$19.15 a hundredweight, the class two price improved$1.55 from the previous month and an incredible$3.13 above October last year. 00:01:42.879 --> 00:01:47.439 October class three, as we said, fell 88 cents below September's price. 00:01:47.680 --> 00:01:53.280 It was also$1.75 per$100 weight below the Class III price from October of last year. 00:01:53.519 --> 00:02:05.040 Class 4 milk prices gained$1.60 to$20.54, and that was a staggering$6.24$100 weight above that of October a year ago. 00:02:05.439 --> 00:02:18.000 The gap between October class three and class four widened to five dollars and thirty-eight cents a hundred weight, the second largest spread this year, just behind May's$5.40 a hundredweight. 00:02:18.240 --> 00:02:31.680 Class 4 remained the higher of for another month, giving incentives to de-pool class four milk from some milk marketing order pools and potentially lowering the blend price dairy producers may receive in an order. 00:02:31.919 --> 00:02:39.840 Taking a look at component prices after September's component prices showed butter fat and protein prices slipping from the previous month. 00:02:40.159 --> 00:02:41.759 October followed suit. 00:02:41.919 --> 00:02:48.240 This month's butterfly was$1.38 per pound, down from September's$1.47. 00:02:48.719 --> 00:02:55.439 Likewise, the price of protein fell 26 cents from September to$2.40 per pound. 00:02:57.360 --> 00:03:01.759 Switching over to beef markets and the certified Angus beef report on drovers. 00:03:01.919 --> 00:03:21.599 In recent weeks, average cash-fed cattle prices have found a higher range slogging through the upward recovery seemingly necessary following the route, with prices dropping precipitously from$235 a hundred weight in the first week of August to$219 a hundredweight three weeks later. 00:03:30.400 --> 00:03:37.840 Regionally, the range has been more dramatically spread as Iowa and Minnesota steers sold from 218 to 225 100 weight. 00:03:38.159 --> 00:03:46.800 At the same time, the recently expanded South Central combined regional report shows a wide 220 to 230 per 100 weight price chasm. 00:03:47.439 --> 00:03:58.000 As record large carcass weights hit the USDA ledger for the week of October 11th, the anticipated increase toward the annual fall weight highs received an early shot in the arm. 00:03:58.159 --> 00:04:07.199 The single-week eight-pound jump to 994 pounds and steer carcass weights took out last March's record high by a margin of five added pounds per head. 00:04:07.439 --> 00:04:19.040 Volatility and live cattle futures sent contract prices careening lower beginning last Wednesday, culminating in$14 to$1500 weight declines as of this Wednesday. 00:04:19.279 --> 00:04:29.199 Neither weaker boxed beef cutout values nor record carcass weights equate to enough bearish impetus to turn the market as forcefully lower as what has transpired. 00:04:29.439 --> 00:04:40.399 Heavy carcass weights tend to imply a lack of currentness in the feedlot sector, yet forecasted Fed supplies into early 27 indicate smaller headcounts ahead. 00:04:40.639 --> 00:04:44.160 There's a bunch more to this report on drovers.com. 00:04:44.639 --> 00:04:48.480 Sure to check it out in the link through uh BlackDert Daily.com. 00:04:50.079 --> 00:05:03.279 Finishing up with John Deere News, they announced plans to close two Iowa manufacturing plants in the next few years and month and move production to other cities in a news release from the company earlier this week. 00:05:10.560 --> 00:05:21.519 In addition, the company said it'll end manufacturing at its Hagee plant in Clarion, Iowa, after moving STS sprayer production to Louisiana. 00:05:21.920 --> 00:05:32.959 Wind Rower production plans to move to Des Moines by the end of 2027, and round balers would follow by the end of 2028, according to Deer, followed by the closure of the plant in Atumwa. 00:05:33.439 --> 00:05:43.439 STS sprayer production is slated to move to Thibodeau, Louisiana, beginning in 2028, with manufacturing ending in Clarion by the end of 2029. 00:05:43.839 --> 00:05:51.199 John Deer told DTN the company has more than 300 workers at the Atumwan plant and more than 200 at its Clarion facility. 00:05:51.519 --> 00:05:58.720 Deer said the specific employment effects will depend on future business conditions, production volumes, and staffing needs. 00:05:58.959 --> 00:06:06.079 So at normal production volumes, about 300 positions would be affected by the adjustments, Deer told DTN. 00:06:06.959 --> 00:06:07.920 Well, that's all for now. 00:06:08.000 --> 00:06:09.199 As always, thanks for tuning in. 00:06:09.279 --> 00:06:10.959 If you like what you heard, drop me a comment. 00:06:11.120 --> 00:06:16.399 Be sure to check out the full articles behind these topics at blackhirtdaily.com. 00:06:16.560 --> 00:06:20.240 I'll be back Monday with more business news, cross tag, and financial markets. 00:06:20.399 --> 00:06:23.519 Until then, I'm Mike Hopperman, and goodbye for now.