Capital Press | Nation/World http://www.capitalpress.com Capital Press Wed, 27 Jul 2016 21:49:36 -0400 en http://EOR-CPwebvarnish.newscyclecloud.com/apps/pbcsi.dll/staticimage/images/rss-logo.jpg Capital Press | Nation/World http://www.capitalpress.com North Idaho growers open flour mill http://www.capitalpress.com/Idaho/20160727/north-idaho-growers-open-flour-mill http://www.capitalpress.com/Idaho/20160727/north-idaho-growers-open-flour-mill#Comments Wed, 27 Jul 2016 09:08:05 -0400 John O’Connell http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729894 BONNER’S FERRY, Idaho — Some of Tim Dillin’s grain crop is processed on his own farm in a small mill operated by his wife, Julie.

He proposed opening a farm-based mill in the spring of 2015, as a means of providing his wife a post-retirement activity.

Julie Dillin, who retired in June 2015 following a 35-year career as an elementary school teacher, now spends her days loading the mill, bagging flour and applying labels by hand. She sells her product directly to customers.

“When I retired, I knew I wanted to do something completely different from teaching and something where I could stay at home and be on the farm, because it’s beautiful out there,” she said.

To learn the ropes of the business, the Dillins toured a couple of other mills in the region, including a Lewiston, Idaho, flour mill and winery and Camas Country Mills in Eugene, Ore. The owner of the Lewiston facility sold them a 30-inch stone mill, which he’d used only briefly before upgrading to a larger size.

They purchased a prefabricated 14- by 32-foot structure to house their mill in May 2015, later adding a 12- by 16-foot storage shed. They officially opened for business after hosting an open house in October.

“It’s definitely not paying for itself, but we’ll keep working at it,” Tim Dillin said.

Julie Dillin spends about 10 hours per week working in the mill. They can process up to 200 pounds of flour per hour.

“I think it’s a great product. Other people who bake with it feel it’s the best bread they’ve ever had,” Julie Dillin said. “People now seem to want to know where their food is coming from, and they’re interested in buying local. We know of no one in this area who is milling their own flour.”

They offer three types of wheat flour — hard white, soft white and hard red — as well as barley flour. Tim Dillin, who farms on 1,600 acres, raises a healthy barley variety developed in Aberdeen, Idaho, called Transit, for milling.

Though there are currently no genetically modified wheat or barley varieties on the market, they label their product as GMO-free, given the high level of customer interest in the topic.

Julie Dillin sells bagged flour, a popular pancake mix with barley and soft white flour and seasonal baked-good mixes. She spends much of her time developing recipes, especially with barley flour, and works several hours per week in the kitchen preparing free samples.

She attends the farmers’ market in Troy, Mont., and also sells to local bakeries and a pizza restaurant. They plan to sell flour online soon under the domain name farmersmarketgrains.com, and are setting up a Facebook page with the same address.

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Portland daily grain report http://www.capitalpress.com/Markets/20160727/portland-daily-grain-report http://www.capitalpress.com/Markets/20160727/portland-daily-grain-report#Comments Wed, 27 Jul 2016 09:21:12 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729890 Portland, Ore., Wednesday, July 27, 2016

USDA Market News

All Bids in dollars per bushel. Bids are limited and not fully

established in early trading.

Bids for grains delivered to Portland, Oregon in dollars per bushel.

In early trading September futures trended 1.50 to four cents per bushel higher compared to Tuesday’s closes.

Bids for US 1 Soft White Wheat delivered to Portland in unit trains and barges for July delivery for ordinary protein were not well tested early trading, but bids were indicated as mixed compared to Tuesday’s noon bids for the same delivery period. Some exporters were not issuing bids for nearby delivery. Bids for guaranteed maximum 10.5 percent protein were not well tested in early trading, but bids were indicated as steady to higher compared to Tuesday’s noon bids for the same delivery period. Some exporters were not issuing bids for nearby.

Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for July delivery were not well tested in early trading, but were indicated as mixed compared to Tuesday’s noon bids. Some exporters are not issuing bids for nearby delivery.

Bids for 14 percent protein US 1 Dark Northern Spring Wheat for July delivery were not well tested in early trading, but were indicated as mixed compared to Tuesday’s noon bids. Some exporters are not issuing bids for nearby delivery.

Bids for US 2 Yellow Corn delivered full coast in 110 car shuttle trains during July trended higher compared to Tuesday’s noon bids.

Bids for US 1 Yellow Soybeans delivered full coast in 110 car shuttle trains during July trended higher in early trading compared to Tuesday’s noon bids.

All wheat bids in dollars per bushel

US 1 Soft White Wheat - delivered by Unit Trains and Barges

Ordinary protein

Jul 5.1000-5.1500

Aug NC 5.1000-5.1800

Sep 5.1000-5.2100

Oct NA

Nov NA

Guaranteed maximum 10.5 pct protein

Jul 5.1650-5.2000

Aug NC 5.1650-5.2000

Sep 5.1450-5.2000

Oct NA

Nov NA

US 1 White Club Wheat - delivered by Unit Trains and Barges

Ordinary protein

Jul 5.1000-5.2500

Guaranteed maximum 10.5 pct protein

Jul 5.1650-5.2000

US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or

better)

Ordinary protein 4.5875-4.7975

11 pct protein 4.7875-4.9875

11.5 pct protein

Jul 4.8875-5.0875

Aug NC 4.8875-5.1375

Sep 4.8875-5.1375

Oct 5.1475-5.4475

Nov 5.1475-5.4475

12 pct protein 4.9375-5.1375

13 pct protein 5.0375-5.2375

US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum

of 0.5 part per million vomitoxin, and a maximum of one percent total damage)

13 pct protein 5.3350-5.6050

14 pct protein

Jul 5.6550-5.8550

Aug NC 5.6550-6.0550

Sep 5.6550-6.0550

Oct 6.1300-6.1800

Nov 6.1300-6.1800

15 pct protein 5.8150-6.0550

16 pct protein 5.9650-6.2550

US 2 Yellow Corn

Shuttle trains-Delivered full coast Pacific Northwest-BN

Jul 4.4525-4.5525

Aug 4.5425-4.5525

Sep 4.5425-4.5525

Oct 4.4425-4.5725

Nov 4.4425-4.5725

Dec 4.4425-4.5725

US 1 Yellow Soybeans

Shuttle trains-Delivered full coast Pacific Northwest-BN

Jul 11.1925

Aug 11.1925

Sep 11.1775-11.1975

Oct 11.1975

Nov 11.1775

Dec 11.1400-11.1500

US 2 Heavy White Oats 3.1925

Not well tested.

Exporter Bids Portland Rail/Barge Jun 2016

Averages in Dollars per bushel

US 1 Soft White by Unit Trains and Barges 5.4600

US 1 Hard Red Winter (Ordinary protein) 5.1700

US 1 Hard Red Winter (11.5% protein) 5.3900

US 1 Dark Northern Spring (14% protein) 6.3500

Source: USDA Market News Service, Portland, OR

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Dr Pepper Snapple Group posts 2Q profit http://www.capitalpress.com/Business/20160727/dr-pepper-snapple-group-posts-2q-profit http://www.capitalpress.com/Business/20160727/dr-pepper-snapple-group-posts-2q-profit#Comments Wed, 27 Jul 2016 09:10:39 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729892 PLANO, Texas (AP) — Dr Pepper Snapple Group Inc. (DPS) on Wednesday reported second-quarter profit of $260 million.

On a per-share basis, the Plano, Texas-based company said it had net income of $1.39. Earnings, adjusted for non-recurring gains, were $1.25 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The maker of beverages such as 7Up, Sunkist and Mott’s posted revenue of $1.7 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.69 billion.

Dr Pepper Snapple Group expects full-year earnings in the range of $4.27 to $4.35 per share.

Dr Pepper Snapple Group shares have increased slightly more than 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has climbed 25 percent in the last 12 months.

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Coca-Cola cuts sales outlook amid weak international demand http://www.capitalpress.com/Business/20160727/coca-cola-cuts-sales-outlook-amid-weak-international-demand http://www.capitalpress.com/Business/20160727/coca-cola-cuts-sales-outlook-amid-weak-international-demand#Comments Wed, 27 Jul 2016 09:09:27 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729893 ATLANTA (AP) — Coca-Cola trimmed its sales outlook for the year Wednesday, citing weakening demand in major international markets including China and part of South America.

The world’s biggest soda maker said its global volume for the second quarter was flat from a year ago, dragged down by poor results in some areas outside the United States. The maker of Fanta, Sprite and Powerade said it sold more non-carbonated drinks, but less soda.

Coca-Cola Co. had warned earlier this year that its soda volume was being pressured by rougher economic conditions in emerging markets, where its sodas tend to account for a higher portion of sales.

Although soda remains the flagship beverage for Coca-Cola and its rival PepsiCo Inc., the companies say they are diversifying and focusing on categories with more potential. To offset the declines in soda volume, they’re also raising prices and marketing putting the drinks in mini-cans or glass bottles to market them as more premium.

In China, where consumer sentiment has weakened, sales of Coca-Cola’s namesake soda and juice drinks declined, but premium bottled water saw gains. Coca-Cola President James Quincey said the company plans to focus on affordability for rural and blue-collar customers, while launching more premium offerings for higher-income customers.

Still, Quincey said it will take some time for such actions to take hold and that Coca-Cola did not expects results in the country to improve in the rest of the year.

Volume also declined in Venezuela, where a sugar shortage forced the company to temporarily shut down production.

In its home U.S. market, Coca-Cola saw growth in non-carbonated drinks offset a decline in sodas. Soda has been losing favor in the United States for years, given the proliferation of options on shelves and soda’s image as fueling weight gain.

For the year, Coca-Cola said it now expects overall sales to climb 3 percent, after stripping out the effect of currency fluctuations, acquisitions and divestitures. That’s compared with its forecast for growth of 4 percent to 5 percent.

Coca-Cola’s total revenue for the quarter declined 5 percent to $11.54 billion, missing the $11.69 billion analysts expected. After stripping out the impact of currency fluctuations and acquisitions and divestitures, the company said pricing helped lift “organic” revenue 3 percent.

The Atlanta-based company earned $3.45 billion, or 79 cents per share, for the quarter. Earnings, adjusted for non-recurring gains, were 60 cents per share. That was more than the 58 cents per share analysts expected, according to Zacks Investment Research.

Coke shares fell 3.6 percent to $43.26 in morning trading. The shares have climbed 4.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has climbed 11 percent in the last 12 months.

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Former Utz potato chip exec pleads guilty to $1.4M fraud http://www.capitalpress.com/Business/20160727/former-utz-potato-chip-exec-pleads-guilty-to-14m-fraud http://www.capitalpress.com/Business/20160727/former-utz-potato-chip-exec-pleads-guilty-to-14m-fraud#Comments Wed, 27 Jul 2016 09:04:06 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729896 HARRISBURG, Pa. (AP) — A former executive with a Pennsylvania potato chip and snack food company has pleaded guilty to defrauding the company out of roughly $1.4 million.

Thirty-eight-year-old Kevin Myers acknowledged Tuesday that he received $651,000 in kickbacks while purchasing director at Utz Quality Foods in Hanover.

Federal prosecutors say Myers received the kickbacks from 45-year-old Jonathan Haas, who owned Haas Packaging and Design when the thefts occurred between January 2010 and August 2014.

Investigators say Haas submitted bogus invoices for $1.4 million in shelving and packaging products that were never delivered to Utz. When Myers approved the payments to Haas, he kicked back part of the money to Myers.

Haas’ attorney, Stanley Margle, says his client plans to plead guilty, too, but says Haas disputes the amount of losses attributed to him.

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Grocer recalls salads, sandwiches due to salmonella risk http://www.capitalpress.com/Nation_World/Nation/20160727/grocer-recalls-salads-sandwiches-due-to-salmonella-risk http://www.capitalpress.com/Nation_World/Nation/20160727/grocer-recalls-salads-sandwiches-due-to-salmonella-risk#Comments Wed, 27 Jul 2016 08:42:30 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729900 GRAND RAPIDS, Mich. (AP) — Midwest retailer Meijer Inc. says some salads and sandwiches that it sells are being recalled due to a potential risk of salmonella contamination.

The company says the “Markets of Meijer” products were sold at Meijer stores from July 20 through Monday. Meijer says there have been no known illnesses reported to the company from foods.

Meijer says the salads and sandwiches contain cooked egg from supplier Prime Foods LLC, which notified Meijer of a positive test for salmonella. Customers should either dispose of the food or return it to a Meijer store for a refund.

Details of the recalled products are posted online.

Grand Rapids-based Meijer operates 228 supercenters and grocery stores in Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin.

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New Hampshire company recalls more than 8,000 pounds of beef http://www.capitalpress.com/AP_Nation_World/20160727/new-hampshire-company-recalls-more-than-8000-pounds-of-beef http://www.capitalpress.com/AP_Nation_World/20160727/new-hampshire-company-recalls-more-than-8000-pounds-of-beef#Comments Wed, 27 Jul 2016 08:31:54 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729901 NORTH HAVERHILL, N.H. (AP) — A New Hampshire company is recalling about 8,800 pounds of raw beef products that may be contaminated with E. coli.

The U.S. Department of Agriculture’s Food Safety and Inspection Service announced the recall on Tuesday.

It affects ground beef, ground beef patties and other sub-primal cuts produced by North Haverhill-based PT Farm.

The raw, intact and non-intact beef products were produced between June 6 and June 16.

The items were shipped to retail locations and for institutional use in Maine, Massachusetts, New Hampshire and Vermont.

People who have purchased these products are urged not to consume them.

The Food Safety and Inspection Service says 14 people have gotten sick. The investigation is ongoing.

Symptoms of an E. coli infection include severe stomach cramps, diarrhea, fever, nausea and vomiting.

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Rural Washington county wants to recruit food processors http://www.capitalpress.com/Washington/20160726/rural-washington-county-wants-to-recruit-food-processors http://www.capitalpress.com/Washington/20160726/rural-washington-county-wants-to-recruit-food-processors#Comments Tue, 26 Jul 2016 10:34:08 -0400 Matw Weaver http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729910 Economic development officials in rural Adams County, Wash., want to increase their chances of recruiting food processing companies.

The county, Port of Othello and the nonprofit Adams County Development Council are partnering on an $83,000 study to explore developing an industrial wastewater treatment facility for the port’s Bruce industrial site, about 4 miles east of Othello, Wash.

In recent years, the county has been unsuccessful in recruiting food processing companies into the area due to the lack of infrastructure, said Stephen McFadden, economic development director for the county.

That includes a recent $350 million dairy-related project that would have created more than 150 jobs, but required a treatment facility capable of handling 1.3 million gallons of wastewater per day.

“There’s no such thing in our county,” McFadden said. “In the past two years, we’ve really begun to recognize that we are infrastructure-poor, in terms of attracting and serving business and industry.”

The study will be completed in December. The agencies received $50,000 from the state Community Economic Revitalization Board, and are sharing the remaining cost. They had their first meeting with engineers last week.

The county owns 90 acres near the industrial park. The study will determine whether it is a feasible site for a plant, whether another location would better and the best type of design, allowing for growth as new employers are recruited.

McFadden said the agencies want an environmentally sound processing facility.

“We want a facility that will use a water re-use technology,” he said. “Waste water will come in from a processor, the plant will treat the water to a much higher quality of water than what is normally sent through a processing plant and then applied to irrigated circles or sent down the irrigation canal. We want this water to be recyclable by local processors.”

The port has more than 260 million gallons of water available per year with the option of expanding to meet future demand, McFadden said.

Adams is one of the smallest counties in the state, and is “distressed” economically, McFadden said.

“We have one industry sector here, really — the industry is agriculture, that’s it,” he said. “We’re prime ag ground, we grow up to 60 different crops each year, depending on rotation. With open ground and the right planning, we would be a great location for food processors.”

McFadden hopes to target East Coast companies expanding into the Pacific Northwest or California companies relocating into a more affordable area.

“We have water, which is very important to anybody, we have cheap ground, we have a new area just opening up here with plots for sale,” Doyle Palmer, executive director for the port district, said.

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Russia bans cultivation, breeding of GMOs http://www.capitalpress.com/Nation_World/Nation/20160726/russia-bans-cultivation-breeding-of-gmos http://www.capitalpress.com/Nation_World/Nation/20160726/russia-bans-cultivation-breeding-of-gmos#Comments Tue, 26 Jul 2016 10:11:08 -0400 Mateusz Perkowski http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729912 Russia has banned the cultivation and breeding of genetically engineered crops, which may have long-term consequences for biotechnology in global agriculture, experts say.

Biotech critics and supporters agree that the prohibition won’t have an immediate impact on U.S. farmers, since Russia doesn’t currently produce genetically engineered crops or import many of them.

However, the new law does close a potentially large market for U.S.-grown biotech crops in the future, said Mary Boote, executive director of the Global Farmer Network, a nonprofit that advocates for trade and technology in agriculture.

“Long term, we should all be concerned,” she said.

The ban applies to cultivation and breeding of genetically modified organisms, or GMOs, within Russia, but doesn’t outright ban imports of them if they’re already approved in that country.

However, few GMOs have received such approval, so the law effectively prevents shipments of U.S. biotech crops from increasing, Boote said.

Russia’s government also has the power under the new law to ban GMO imports due to any perceived health or environmental threat without scientific proof of a hazard, which can lead to market disruptions, she said.

Apart from impeding global commerce in GMOs, the law is a public relations victory for opponents of biotechnology, Boote said. “It sets precedent.”

Biotech critics, meanwhile, say the ban could give Russian farmers a leg up with exports to the U.S. and Europe.

“Non-GMO markets are growing globally,” said Doug Gurian-Sherman, director of sustainable agriculture for the Center for Food Safety, a nonprofit critical of genetic engineering.

In the U.S., the recently passed federal GMO labeling bill — which biotech critics opposed as being too lax — will likely spur demand for non-GMO foods, he said. “If anything, it’s likely to make consumers more suspicious.”

Russia’s agricultural productivity isn’t likely to suffer due to the ban on GMO breeding and cultivation, as traditional breeding and improved agronomy have been shown to offer better yield gains than biotechnology, Gurian-Sherman said.

If the GMO ban frees up resources for improving drought tolerance and fertilizer efficiency through conventional means, for example, Russia’s productivity is unlikely to suffer, he said.

While Russia’s new law does contain an exemption for using GMOs in research, the USDA’s Foreign Agricultural Service nonetheless expects such studies to stop “because the scientific community will not be interested in conducting expensive research without prospects for commercialization,” according to an agency report.

In 2013, Russia passed a law that would allow GMOs to be registered for release into the environment, but public backlash against these crops caused authorities to delay its implementation and eventually to enact the recent ban, the FAS report said.

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Lawsuit charging USDA censorship dismissed http://www.capitalpress.com/Nation_World/Nation/20160726/lawsuit-charging-usda-censorship-dismissed http://www.capitalpress.com/Nation_World/Nation/20160726/lawsuit-charging-usda-censorship-dismissed#Comments Tue, 26 Jul 2016 09:42:17 -0400 Mateusz Perkowski http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729913 A lawsuit that accused the USDA of censoring its scientists in violation of their free speech rights has been dismissed by a federal judge.

Last year, the non-profit Public Employees for Environmental Responsibility, or PEER, filed a complaint claiming that USDA’s “scientific integrity policy” unconstitutionally muzzled scientists to appease “corporate stakeholders.”

The USDA policy, issued in 2013, states that “scientists should refrain from making statements that could be construed as being judgments of or recommendations on USDA or any other federal government policy, either intentionally or inadvertently.”

According to PEER, the policy effectively prohibited USDA researchers from making public statements about controversial subjects, stifling scientific discourse about agriculture.

Specifically, the complaint pointed to Jonathan Lundgren, an entomologist for USDA’s Agricultural Research Service, who was prevented from speaking publicly about certain subjects.

For example, USDA barred Lundgren from speaking to the media about the impact on non-target insects from crops that are genetically engineered to have pesticidal qualities, the complaint said.

The agency also did not allow Lundgren to publish a study about trends in biotechnology and U.S. biofuel policies, according to the lawsuit.

PEER asked a federal judge to void the “scientific integrity policy” because it violates the U.S. Constitution and administrative laws that require public notice and comment.

However, U.S. District Judge Christopher Cooper has thrown out the lawsuit because Lundgren has quit the USDA since the lawsuit was filed, which means PEER no longer has the legal standing to challenge the agency’s policy in court.

“At a minimum, what PEER must show is that at least one of its members is a USDA employee, subject to the policy, who is suffering or will in the near future suffer some injury as a result of the policy,” Cooper said.

Unless the non-profit identifies such an employee and revises its complaint, the harm to PEER is merely speculative, he said.

Jeff Ruch, PEER’s executive director, said that it may be able to identify another USDA employee affected by the policy but naming the person publicly would be problematic due to the potential for retaliation.

“We wouldn’t advise them to do it unless they feel like they have nothing to lose,” Ruch said.

The agency’s policy hasn’t improved scientific integrity but it has “increased paranoia” and effectively serves as a gag order on research that may affect federal policy, he said.

Lundgren, who now heads the Ecdysis Foundation research non-profit, said the policy impedes scientists from interpreting study results and putting them into context for the public.

There are other USDA scientists who are “fed up” with the policy, but many fear speaking out against it, he said.

“You’re throwing away a potentially long-term career with the agency if you challenge this,” Lundgren said.

A spokesperson for USDA said the integrity of its research is “paramount” to instilling confidence in the agency among policy-makers, the public and the scientific community.

“For these reasons, USDA has put in place a strong scientific integrity policy to promote a culture of excellence and transparency, including procedures for staff to report any perceived interference with their work, seek resolution, and receive protection from recourse for doing so. We stand by our policy,” the spokesperson said in an email.

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Caterpillar’s 2Q results top expectations http://www.capitalpress.com/Business/20160726/caterpillars-2q-results-top-expectations http://www.capitalpress.com/Business/20160726/caterpillars-2q-results-top-expectations#Comments Tue, 26 Jul 2016 09:33:08 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729914 PEORIA, Ill. (AP) — Caterpillar’s second-quarter performance beat Wall Street’s expectations, despite weakness in the mining and oil and gas industries. But the company lowered its full-year adjusted profit guidance again, saying global economic growth remains subdued and isn’t sufficient to drive improvement in most of the industries and markets it serves.

Shares slipped before the market open on Tuesday.

The mining and construction equipment company earned $550 million, or 93 cents per share, for the three months ended June 30. That compares with $802 million, or $1.31 per share, a year earlier.

Removing restructuring costs, earnings were $1.09 per share.

This handily beat the 96 cents per share analysts surveyed by Zacks Investment Research expected.

Revenue declined to $10.34 billion from $12.32 billion, but topped the $9.99 billion that analysts Zacks polled were looking for.

Sales dropped in all regions, with North American sales down mostly because of lower end-user demand for construction, low oil prices and continued declines in mining. While the real estate market continues to recover from the housing bust, builders of new homes say they’re having a hard time finding workers and land for additional construction.

Peoria, Illinois-based Caterpillar Inc. said that it now foresees full-year sales and revenues at the low end of its prior range of $40 billion to $42 billion. Its adjusted profit is now expected to be about $3.55 per share, compared with a previous guidance of $3.70 per share. In April the company had reduced its full-year adjusted profit outlook to $3.70 from $4 per share.

Analysts polled by FactSet expect full-year earnings of $3.53 per share on revenue of $40.13 billion.

Its shares slipped 44 cents to $78.25 in premarket trading an hour ahead of the market open.

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InBev ups offer for SABMiller after Brexit pound slump http://www.capitalpress.com/Business/20160726/inbev-ups-offer-for-sabmiller-after-brexit-pound-slump http://www.capitalpress.com/Business/20160726/inbev-ups-offer-for-sabmiller-after-brexit-pound-slump#Comments Tue, 26 Jul 2016 09:30:28 -0400 DANICA KIRKA http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729915 LONDON (AP) — Budweiser maker Anheuser-Busch InBev increased its cash offer for SABMiller to 45 pounds ($58.98) per share to blunt a revolt by investors who had seen the relative value of their payout plummet as the pound declined following Britain’s vote to leave the European Union.

AB InBev on Tuesday sweetened its bid by one pound a share to appease smaller investors who complained that they were now receiving less for their shares than SABMiller’s two biggest shareholders, who were offered a cash-and-share deal. The new offer values the transaction at 79 billion pounds.

SABMiller’s board in November accepted, in principle, a merger that seeks strength in size, combining the world’s two largest brewers into a company that would control nearly a third of the global market.

But AB InBev shares, which are denominated in euros, have risen 3.2 percent since then and the pound plunged against the European currency after the referendum on Britain’s exit from the EU. That reduced the value of the cash offer compared with the cash-and-stock option tailored for U.S. tobacco company Altria and BevCo, an investment vehicle of the Santo Domingo family, which together own about 40 percent of SABMiller and wanted to remain shareholders of the new company.

Aberdeen Asset Management, whose stake in SABMiller is in excess of one percent, on Tuesday made plain its unhappiness with both the new cash offer and the overall situation. The offer undervalues SABMiller and favors the company’s two biggest shareholders, the firm said.

“The revised deal remains unacceptable,” it said in a statement.

Aberdeen Asset Management said it had engaged with SABMiller’s board on the “differential” treatment of shareholders and that the way that the “value of the partial share offer has diverged from the cash offer has compounded our discomfort.”

As of Monday, the value of the cash-and-stock offer had risen to 50.26 pounds a share, or 14.2 percent more than the original cash offer. In November, it was worth 41.85 pounds, or 4.9 percent less than the cash offer. Following Tuesday’s announcement, the cash-and-stock offer is worth 51.14 pounds a share, still 13.6 percent more than the sweetened cash offer.

“Altria and BevCo should not be able to vote on the cash offer as they are inherently conflicted by their future stakes in AB InBev if the deal completes,” Aberdeen said. “We believe the board’s only choice is to treat Altria and BevCo as a separate class of shareholders and would urge them to make a public statement to this effect.”

Aberdeen indicated it was willing to give up on the deal: “In the absence of an improved offer we would be more than happy to remain committed long-term shareholders in SABMiller.”

Another firm, U.S. hedge fund Elliott Management had written to the SABMiller board to express concern last week, the Financial Times reported.

Analysts like Jonny Forsyth of Mintel say it’s unlikely that the deal might get derailed, as AB Inbev or SABMiller are deeply committed. They have already restructured their operations, selling many brands around the world, to ease regulators’ concerns about their new company’s market dominance.

“They are very invested in making this work,” Forsyth said.

SABMiller said in a statement that its chairman and his counterpart at AB InBev spoke last week about the exchange rate volatility and market movements, but that there had been no “discussion or agreement” about the revised offer.

The SABMiller board confirmed it hired Centerview Partners to provide additional financial advice. It said it will consult with shareholders and meet to review the revised offer, after which it will make an announcement.

AB InBev has received regulatory approval for the deal in a number of jurisdictions, most recently in the United States. Regulators in China have yet to offer their view.

RBC Capital Markets analyst James Edwardes Jones described the people who were agitating as being “relatively small shareholders,” and that there would not be further increases to the pot.

“It was a final offer,” he said.

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Portland daily grain report http://www.capitalpress.com/Markets/20160726/portland-daily-grain-report http://www.capitalpress.com/Markets/20160726/portland-daily-grain-report#Comments Tue, 26 Jul 2016 09:16:16 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729918 Portland, Ore., Tuesday, July 26, 2016

USDA Market News

All Bids in dollars per bushel. Bids are limited and not fully established in early trading.

Bids for grains delivered to Portland, Oregon in dollars per bushel.

In early trading September futures trended 8.25 to 9.75 cents per bushel lower compared to Monday’s closes.

Bids for US 1 Soft White Wheat delivered to Portland in unit trains and barges for July delivery for ordinary protein were not well tested early trading, but bids were indicated as steady to lower compared to Monday’s noon bids for the same delivery period. Some exporters were not issuing bids for nearby delivery. Bids for guaranteed maximum 10.5 percent protein were not well tested in early trading, but bids were indicated as steady to lower compared to Monday’s noon bids for the same delivery period. Some exporters were not issuing bids for nearby.

Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for July delivery were not well tested in early trading, but were indicated as lower compared to Monday’s noon bids. Some exporters are not issuing bids for nearby delivery.

Bids for 14 percent protein US 1 Dark Northern Spring Wheat for July delivery were not well tested in early trading, but were indicated as lower compared to Monday’s noon bids. Some exporters are not issuing bids for nearby delivery.

Bids for US 2 Yellow Corn delivered full coast in 110 car shuttle trains during July trended higher compared to Monday’s noon bids.

Bids for US 1 Yellow Soybeans delivered full coast in 110 car shuttle trains during July trended higher in early trading compared to Monday’s noon bids.

All wheat bids in dollars per bushel

US 1 Soft White Wheat - delivered by Unit Trains and Barges

Ordinary protein

Jul 4.9925-5.1800

Aug NC 4.9925-5.1800

Sep 4.9925-5.2400

Oct NA

Nov NA

Guaranteed maximum 10.5 pct protein

Jul 4.9925-5.2000

Aug NC 4.9925-5.2000

Sep 4.9925-5.2000

Oct NA

Nov NA

US 1 White Club Wheat - delivered by Unit Trains and Barges

Ordinary protein

Jul 4.9925-5.2800

Guaranteed maximum 10.5 pct protein

Jul 4.9925-5.1975

US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or

better)

Ordinary protein 4.6975-4.8075

11 pct protein 4.8975-4.9975

11.5 pct protein

Jul 4.9975-5.0975

Aug NC 4.9975-5.1475

Sep 4.9975-5.1475

Oct 5.2625-5.4625

Nov 5.2625-5.4625

12 pct protein 5.0475-5.1475

13 pct protein 5.1475-5.2475

US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum

of 0.5 part per million vomitoxin, and a maximum of one percent total damage)

13 pct protein 5.3675-5.5875

14 pct protein

Jul 5.6875-5.8375

Aug NC 5.6875-5.9875

Sep 5.6875-5.9875

Oct 6.1500

Nov 6.1500

15 pct protein 5.8475-6.0375

16 pct protein 5.9475-6.2375

US 2 Yellow Corn

Shuttle trains-Delivered full coast Pacific Northwest-BN

Jul 4.4525-4.5225

Aug 4.5125

Sep 4.5125

Oct 4.4425-4.4825

Nov 4.4425-4.4825

Dec 4.4425-4.4825

US 1 Yellow Soybeans

Shuttle trains-Delivered full coast Pacific Northwest-BN

Jul 11.1025

Aug 11.1025

Sep 11.0825-11.1025

Oct 11.1025

Nov 11.0825

Dec 11.0525-11.0625

US 2 Heavy White Oats 3.1925

Not well tested.

Exporter Bids Portland Rail/Barge Jun 2016

Averages in Dollars per bushel

US 1 Soft White by Unit Trains and Barges 5.4600

US 1 Hard Red Winter (Ordinary protein) 5.1700

US 1 Hard Red Winter (11.5% protein) 5.3900

US 1 Dark Northern Spring (14% protein) 6.3500

Source: USDA Market News Service, Portland, OR

Niki Davila 503-326-2237

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Former Oregon lumber town rides digital wave to a comeback http://www.capitalpress.com/Business/20160726/former-oregon-lumber-town-rides-digital-wave-to-a-comeback http://www.capitalpress.com/Business/20160726/former-oregon-lumber-town-rides-digital-wave-to-a-comeback#Comments Tue, 26 Jul 2016 08:58:24 -0400 ANDREW SELSKY http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729924 PRINEVILLE, Ore. (AP) — It was not long ago that Crook County had five major lumber mills. Timber was king, and the rural Oregon county was the nation’s top producer of ponderosa lumber.

But amid restrictions on harvesting from federal lands, logging started to freefall around 1990. The county’s mills began closing. The global recession hit a few years later. Unemployment soared to around 20 percent, the highest in Oregon.

“We had the sawmills close, and then the bottom dropped out of the economy. So, kick us when we’re down,” said Donna Barnes, Ochoco Lumber Co. accounting manager.

Now, the digital revolution is providing Crook County and its main town, Prineville, with a second chance.

Fifteen years ago, Facebook came looking for a site for its first wholly owned data center. The executives liked that the chilly night air at 3,200 feet above sea level could cool the servers, cheaply and in an eco-friendly way. They liked the 15-year abatement on property taxes, and the fact there was room to grow.

The California-based company completed a 300,000-square-foot data center in 2011. Within months, it began building a second. Facebook is now building a third on a bluff 400 feet above Prineville. Apple followed suit, and officials recently announced it will also build its third data center in the town of about 9,000.

The future looks sunnier. Unemployment is down to 6.8 percent.

“We were overlogging in the ’60s, and now we’ve been curbed,” Prineville Mayor Betty Roppe said. “The pendulum swings the other way. And so we’re trying to diversify jobs.”

Logging is ingrained in Oregon’s culture. A statue of an ax-wielding pioneer tops the state Capitol. Oregonians’ favorite local novel is Ken Kesey’s “Sometimes a Great Notion,” about a logging family. Oregon’s professional soccer team is the Portland Timbers, its logo a double-bladed ax over a forest-green background.

But the timber troubles that hit Crook County also affected much of Oregon and the American West.

By September 2014, the pendulum had swung so far that Oregon’s high-tech industry accounted for the same number of workers and share of wages as the forest sector did in the 1970s, the state Office of Economic Analysis noted in a report. Most of Oregon’s nearly 100,000 high-tech jobs are clustered in the “Silicon Forest” around Portland, said Joshua Lehner, an economist with the office.

That makes Prineville all the more remarkable. The town is a three-hour drive from Portland and light years from its liberal, hipster culture. Locals often wear cowboy hats and boots, not beanies and Birkenstocks.

Other former mill towns also have sought economic alternatives, with varying success. To create a high-tech outpost in the high desert, Prineville and Crook County leaders showed a willingness to cut through red tape.

“Our staff here are really good at bending over backward to help get things permitted,” Roppe said.

The data centers spent about $6 million for land that was owned by the town and county. On June 29, the town announced Apple’s plans for a new 330,000-square-foot data center and 70,000-square-foot logistics building, declaring on Twitter: “We love Apple!”

So many transient construction workers are here that motels and RV spaces are usually filled up. Once the data centers are built, those workers will move on. But locals also are among those building the data centers, and they’re being hired to operate, clean and guard them.

The tech giants agreed to pay 150 percent of customary wages in the county, Roppe said. Facebook initially employed around 35 people, and that number has swelled.

“Instead of 35 people, now there are 165 people,” County Commissioner Ken Fahlgren said in an interview in the century-old, ivy-covered Crook County courthouse. “Every time they build a new building, they add another group of folks that work for them. We hope that they live here, buy homes here, bring their kids to school here, and we develop an economy around that.”

Highlighting Prineville’s resurgence, a wetlands is being built on the town’s western edge that will increase its wastewater treatment capacity. Some of the water will be filtered and used by Apple to cool its servers.

On the other end of town, Ochoco Lumber is selling the land its mill once stood on, billed as prime real estate along Ochoco Creek. The mill closed in 2001. Only a small building is left that Barnes, the accountant, uses to manage the books of the company’s operations elsewhere. On the walls are photos of the mill in full swing, depicting a bygone era.

“The data centers on the hill have been key to our redevelopment, so things look a lot more positive,” Barnes said.

Prineville’s metamorphosis is rare for a small town with an extractive-industry-based economy, said John M. Findlay, an American history professor at the University of Washington.

He cited as examples The Dalles, which hosts a Google data center, and Quincy, Washington, which hosts Microsoft, Yahoo and others.

“These successes take some imagination — communities have to be able to see past declining industries and envision new ones,” Findlay said. They also require infrastructure and political support, such as tax breaks, he noted.

Other timber-dependent towns like Bend and Hood River have capitalized on outdoor recreation and craft breweries, and attracting retirees.

In Prineville, trickle-down benefits of the data-center boom are noted in the Taqueria Mi Tiendita, where customers include construction workers.

“We bought this shop eight years ago,” said Lety Toledo, who co-owns the cafe with her husband. “Those were tough times, but we hung on. Now, it is better.”

Lehner, the economist, cautions that the total number of jobs in the county is the same as in the 1990s. Some people left; others gave up looking for work, driving down the unemployment rate.

Still, he believes the labor force is poised to grow in coming years.

“The outlook is fairly bright for Crook County, particularly relative to much of rural America,” he said.

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Alabama farmer has the blues http://www.capitalpress.com/Profit/20160726/alabama-farmer-has-the-blues http://www.capitalpress.com/Profit/20160726/alabama-farmer-has-the-blues#Comments Tue, 26 Jul 2016 08:45:11 -0400 MONICA COLLIERTimes Daily http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729925 FLORENCE, Ala. (AP) — Steve Reynolds’ father, Roy, had a passion for blueberries. He loved to eat them; he loved to pick them; he loved to watch them grow.

“I had no intentions of ever being a blueberry farmer or growing blueberries,” Reynolds said. “When dad died, and then when mom died — three years ago in April — it was an awakening for me. I would come out here when things were bothering me, and I would work in the field. I would talk to my dad. I would let him guide me.”

He said it was a time in his life when he needed to do something productive and feel close to his dad.

“I put lots of time and energy into the field,” he said. “And that’s when things really started turning around.”

Reynolds Blueberry Farm is open to the public. Reynolds’s mother, Wylodean, was known in the community as the “blueberry lady.” In 2013, when she died, Reynolds said the farm had a pretty good crop.

“We had a lot of pickers that year, and they commented about how the berries were better than they used to be,” he said. “And I was pretty proud of them. That was a really good year. Well, the following year was a little bit better. Then, 2015 was better than 2014. There were people who came out that year who told me they had never seen so many berries.”

He said the bountiful harvests are a blessing from God.

“When you do the right thing and you put time and energy into something, sometimes you’re blessed,” he said. “We haven’t had the rainfall the berries needed this year but I’ve got a well here. I’ve been watering them and it’s made for a nice crop.”

Adam Cox, of Walnut Grove, Tennessee, and his 9-year-old twins, Dillon and Izabella, were recently at the farm picking berries. Reynolds let them know right away one of his farm rules.

“We have a rule for underage pickers,” Reynolds explained. “Children who come with an adult and help them pick, when they’re told it’s about time to go home, then they have permission to get their bellies full. Tell whoever brought you out here that Mr. Reynolds said, ‘We can eat all we want when the picking is done.”’

“That’s motivation for some help,” Cox said to his children, laughing.

Cox said it was his family’s first time coming to the farm.

“We see the signs. My wife works here in Central, so she reminded us about it,” Cox said. “We decided to come and pick some so we can make jelly. The jelly will be great, and we’ll eat it all year. We’ll pick some to just eat, too, because they’re so good.”

Izabella is choosy about the berries she puts in her bucket. Her dad said they had a discussion on the way over about which ones to pick.

“I’m choosing the ones that look the ripest,” she said.

Reynolds said Izabella’s instinct is correct — the bluer the berry, the better it is.

Blueberries grow on a bush but Reynolds said people claim he’s growing them on trees.

“They say, go to the Reynolds Blueberry Farm, they grow their blueberries on trees,” he said. “I have to cut the tops out of these and cut some old growth out at the base yearly to maintain the integrity of the bush. You can’t just let them grow wild. They’re considered a cultivated farm product, so I have to do maintenance on the bushes to keep production of the fruit.”

Reynolds said people don’t realize the work that goes into maintaining the farm. He does all the maintenance — the planting, pruning, cutting and weeding. He’s a one-man show.

At $2 per pound, or $9 per bucket, he said he isn’t in it for the money.

“It’s not that profitable. As much work as I put into it, I’m pretty sure I don’t make minimum wage,” Reynolds said. “The only time I make money on the field is during berry season. It takes lots of hours. If I kept up with the amount of time I put into it over a 12-month season, plus the cost of the equipment and everything that goes into it, it’s not a profitable thing for me.”

Reynolds said the reward is in honoring his father.

“Dad’s been gone for 20 years and when I’m in the field, it brings me close to him,” he said. “My dad had integrity. He was a man that if he told you something, it was going to happen. It didn’t even take a handshake. He was a man of his word.”

Don’t have a bucket? No problem. Reynolds has buckets. He has cardboard boxes and bags to take them home in, too. And with the days getting hotter, he said coming as early as daylight is the best way to beat the heat. But time is running out.

“Our season starts the first week of June, typically, we’ll have blueberries the month of June and up until the last week of July. By August, they’re pretty much gone,” Reynolds said.

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McDonald’s U.S. sales disappoint amid turnaround efforts http://www.capitalpress.com/Business/20160726/mcdonalds-us-sales-disappoint-amid-turnaround-efforts http://www.capitalpress.com/Business/20160726/mcdonalds-us-sales-disappoint-amid-turnaround-efforts#Comments Tue, 26 Jul 2016 08:39:35 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729926 NEW YORK (AP) — McDonald’s reported disappointing sales growth in the United States for the second quarter on Tuesday as the world’s biggest burger chain keeps touting its all-day breakfast menu amid its turnaround efforts.

Shares were down 3 percent before the opening bell.

The Oak Brook, Illinois-based company said sales rose 1.8 percent at established U.S. locations in the period. Analysts expected growth of 3.4 percent, according to FactSet.

The company did not say how much of the sales increase — if any — was from a rise in customer visits, rather than factors such as higher pricing or people trading up to pricier items. McDonald’s noted that it was still the fourth straight quarter in which comparable-store sales rose in the U.S., despite “softening industry growth.”

Last week, Starbucks said its customer traffic in the U.S. was flat from a year ago, and that its results were pressured by weakening consumer confidence, and political uncertainty. Dunkin’ Donuts said its traffic slipped.

McDonald’s Corp. is trying to win back customers under CEO Steve Easterbrook, who took over last year. The company has cited the launch of its all-day breakfast menu last fall for helping improve sales. To keep momentum going, McDonald’s plans to expand the offerings later this year.

The company, which has more than 36,000 locations around the world, is also working on improving perceptions about the quality of its food in the U.S. Those efforts have included switching to butter from margarine for its Egg McMuffins, and searing its beef longer to improve the taste. Like other major fast-food chains, McDonald’s is trying to shake its image for serving unhealthy, processed food as it faces pressure from smaller players promising better alternatives.

Globally, McDonald’s said sales rose 3.1 percent at established locations. That included a 2.6 percent increase in the division that includes established markets like the United Kingdom, Canada and Australia. The high-growth segment, which includes China and Russia, saw a 1.6 percent increase.

For the quarter, McDonald’s earned $1.09 billion, or $1.25 per share, including a 20-cent negative impact from restructuring charges. Analysts expected $1.39 per share, not including one-time items.

Total sales were $6.27 billion, in line with Wall Street forecasts, according to FactSet.

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Black-footed ferrets return to home turf http://www.capitalpress.com/Nation_World/Nation/20160726/black-footed-ferrets-return-to-home-turf http://www.capitalpress.com/Nation_World/Nation/20160726/black-footed-ferrets-return-to-home-turf#Comments Tue, 26 Jul 2016 08:37:57 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729927 MEETEETSE, Wyo. (AP) — Long gone from these parts, black-footed ferrets still appear on Meeteetse’s town logo, in a bronze sculpture downtown and even on coffee mugs from a downtown restaurant, remembered for when the nocturnal weasels made their last stand in the nearby sagebrush hills.

They’re set to make a triumphant return.

On Tuesday, following a bit of ferret carnival at a school in Meeteetse, biologists plan to release 35 black-footed ferrets raised in captivity on two local ranches. The release will complete the circle of a story that began in 1981, when a ranch dog named Shep brought home a dead black-footed ferret and let the world know the species wasn’t extinct after all.

Five years later, biologists captured the area’s remaining wild ferrets for a successful captive-breeding program that since the 1990s has released hundreds of ferrets.

Now, those descendants of Meeteetse’s ferrets will return to Meeteetse at last.

“It’s only fitting that we bring ferrets back to the place where they were last discovered,” U.S. Fish and Wildlife Service spokesman Ryan Moehring said Monday. “This is a reintroduction unlike any other.”

The Fish and Wildlife Service breeds black-footed ferrets at a facility near Fort Collins, Colorado. There, the young ferrets go through a “boot camp” where they learn how to catch prairie dogs.

Ferrets have been released at 24 sites in Wyoming, Montana, Utah, Colorado, New Mexico, South Dakota, Arizona and Kansas, as well as Canada and Mexico. Recent release sites include the Rocky Mountain Arsenal National Wildlife Refuge near Denver last fall.

In Wyoming, black-footed ferrets were reintroduced in the sparsely populated Shirley Basin in the southeast part of the state in 1991. They’ve been released in the basin several times since.

This will be the first ferret release in Wyoming in almost a decade. Last year, the U.S. Fish and Wildlife Service designated all of Wyoming as a zone for “experimental, non-essential” populations of black-footed ferrets.

The designation indemnifies ranchers in case they accidentally harm any ferrets released on their property. More ranchers will agree to such releases if they are less worried about getting in trouble, the thinking goes.

The Lazy BV and Pitchfork ranches, where black-footed ferrets lived in the Meeteetse area, have agreed to host ferrets once again in prairie dog colonies covering thousands of acres. Biologists flocked to the area after the ferret discovery, recalled Meeteetse Mayor J.W. Yetter, who worked in the local logging industry at the time.

“There was a whole crew of university people and wildlife biologists in training quartered up at the timber creek ranger station. They were the ones charged with tracking, capturing, radio collaring and generally discovering the extent of that colony and getting biologic information about the members of that colony,” Yetter said.

The release will be cause for celebration in Meeteetse, population 230. The Fish and Wildlife Service plans to show off the ferrets — and an older, “ambassador” ferret named Two Bit who doesn’t get to be released — at the local school.

The release will be filmed and screened back in town later in the evening.

“There seems to be a lot of excitement about it,” Yetter said.

Biologists also have been preparing for the big day, treating vast colonies of prairie dogs with an experimental plague vaccine and insecticide to kill off fleas. Plague, a disease transmitted by fleas, can wipe out prairie dogs by the thousands.

Black-footed ferrets prey on prairie dogs. Wildlife officials want to do all they can to make sure the reintroduced ferrets have plenty of food, said Zack Walker, a Wyoming Game and Fish Department biologist.

“You basically just spray it inside the burrow, a little bit in each burrow to reduce the flea load,” Walker said.

The goal: Treat 5,000 acres of prairie dog colonies on the Lazy BV and Pitchfork ranches with insecticide this summer.

Biologists in Montana have begun experimenting using drones to treat black-footed ferret habitat with plague vaccine. Walker doubts that will happen in Wyoming any time soon.

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DuPont cost-cutting pushes it beyond Wall Street’s 2Q hopes http://www.capitalpress.com/Business/20160726/dupont-cost-cutting-pushes-it-beyond-wall-streets-2q-hopes http://www.capitalpress.com/Business/20160726/dupont-cost-cutting-pushes-it-beyond-wall-streets-2q-hopes#Comments Tue, 26 Jul 2016 08:15:57 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729929 WILMINGTON, Del. (AP) — DuPont topped most expectations in the second quarter as the chemical maker cut costs ahead of its tie up with Dow Chemical, and it upped its profit outlook for the year.

Shares rose more than 1 percent in before the market opened Tuesday.

Shareholders approved the merger of agriculture and chemicals companies last week. Once complete, the century-old companies plan to break up into three parts. The deal is expected to close by the end of the year, if it gets the nod from regulators.

Both Dow and DuPont Co. were pushed by activist investors to break up or find other ways to energize growth. They agreed to merge in December in an all-stock deal valued at about $62 billion.

For the three months ended June 30, DuPont earned $1.02 billion, or $1.16 per share. Excluding certain items, earnings were $1.24 per share, which was 14 cents better than analysts had expected, according to a poll by Zacks Investment Research. A year ago the Wilmington, Delaware-based company earned $940 million, or $1.03 per share.

Selling, general and administrative expenses declined in the quarter, as did its research and development expense.

Revenue slipped to $7.06 billion from $7.12 billion, hindered partly by foreign currency fluctuations and local pricing. Still, it managed to top the $7.05 billion that analysts polled by Zacks predicted.

DuPont said Tuesday that it now foresees full-year adjusted earnings between $3.15 and $3.20 per share. Its prior outlook was for $3.05 to $3.20 per share. Analysts polled by FactSet expect earnings of $3.15 per share.

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Stripe rust pressure ‘severe’ in Northwest wheat, expert says http://www.capitalpress.com/Washington/20160725/stripe-rust-pressure-severe-in-northwest-wheat-expert-says http://www.capitalpress.com/Washington/20160725/stripe-rust-pressure-severe-in-northwest-wheat-expert-says#Comments Mon, 25 Jul 2016 11:03:53 -0400 Matw Weaver http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729935 Stripe rust pressure this year is “severe to extremely severe” in Pacific Northwest wheat, but most farmers have been able to control it by growing resistant varieties or by applying fungicides.

USDA Agricultural Research Service plant geneticist Xianming Chen blames the mild winter, which allowed the rust to survive and develop in winter wheat.

“Stripe rust developed very early and very quick,” Chen said.

The fungus can cause more than a 60 percent yield loss in highly susceptible wheat varieties.

Applying fungicide has paid off for growers. Rust is generally under control in most commercial fields, Chen said.

“That is big spending for growers, but this year, it was worth it to do that,” he said.

The fungus is occurring almost everywhere in the Pacific Northwest, even in dryland areas.

He hopes to see more farmers plant resistant varieties in the future. That would eliminate the need to spray fungicide, even in severe rust years.

Most wheat fields are now past the point where a fungicide application would help. Rust typically dies by harvest, Chen said, as it cannot live long in dead leaf tissue.

Chen said later-planted spring wheat in higher elevations may still have active rust due to recent rain.

Some of the major fungicides cannot be used after the flowering stage, while others can be used up to 30 days before harvest. Growers should be sure to read the fungicide labels, Chen said.

Temperatures are not quite optimum for the wheat’s high temperature, adult plant resistance to stripe rust to kick in.

It’s too early to tell the outlook for next season, he said.

“It depends on what the weather conditions are from now to the fall,” Chen said. “If the coming winter is cold, then the rust will die more. If the coming winter is very mild like last winter, this rust will survive more.”

Chen said roughly 36 percent of winter wheat varieties are resistant to stripe rust and 16 percent are moderately resistant. Eight percent are moderately resistant to moderately susceptible and 24 percent are moderately susceptible. None are highly susceptible.

For spring wheat, roughly 12 percent of the varieties are resistant, 40 percent are moderately resistant, 11 percent are moderately resistant to moderately susceptible, 11 percent are moderately susceptible and 11 percent are susceptible.

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National wool and sheep report http://www.capitalpress.com/Markets/20160725/national-wool-and-sheep-report http://www.capitalpress.com/Markets/20160725/national-wool-and-sheep-report#Comments Mon, 25 Jul 2016 10:18:18 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729936 Wool prices in cents per pound and foreign currency per kilogram, sheep prices in dollars per hundredweight (cwt.) except some replacement animals on per head basis as indicated.

NATIONAL WOOL REVIEW

(USDA Market News)

Greeley, Colo.

July 22

Domestic wool trading on a clean basis has been at a standstill this week. No confirmed trades were reported. Domestic wool trading on a greasy basis was at a standstill this week. There were no confirmed trades reported.

Domestic wool tags

No. 1 $.60-.70

No. 2 $.50-.60

No. 3 $.40-.50

NATIONAL SHEEP SUMMARY

(USDA Market News)

San Angelo, Texas

July 22

Compared to last week: Slaughter lambs were steady to $15 lower. Slaughter ewes were mostly steady. Feeder lambs were firm, instances $10 higher.

At San Angelo, Texas, 5,981 head sold. No sales in Equity Electronic Auction. In direct trading slaughter ewes were not tested and no comparison on feeder lambs.

4,600 head of negotiated sales of slaughter lambs were steady to $1 higher. 6,200 head of formula sales had no trend due to confidentiality. 3,792 lamb carcasses sold with 45 lbs. and down $8.51 lower; 45-65 lbs. no trend due to confidentiality; 65-75 lbs. $4.30 higher; 75-85 lbs. $3.02 lower and 85 lbs. and up $3.38 higher.

SLAUGHTER LAMBS Choice and Prime 2-3:

San Angelo: shorn and wooled 100-155 lbs. $120-138.

SLAUGHTER LAMBS Choice and Prime 1:

San Angelo: 40-60 lbs. $200-212; 60-70 lbs. $175-198; 70-80 lbs. $160-170; 80-90 lbs. $145-152; 90-110 lbs. $140-150.

DIRECT TRADING (Lambs with 3-4 percent shrink or equivalent):

4,600 Slaughter Lambs shorn and wooled 127-182 lbs. $140-175 (wtd avg $167.15).

Idaho: 5,000 Feeder Lambs 110-120 lbs. $167 for September delivery.

SLAUGHTER EWES:

San Angelo: Good 2-3 (fleshy) $50-58; Utility and Good 1-3 (medium flesh) $60-68; Utility 1-2 (thin) 50-60; Cull and Utility 1-2 (very thin) $40-50; Cull 1 (extremely thin) $18-35.

FEEDER LAMBS Medium and Large 1-2:

San Angelo: 50-60 lbs. $186-198; 60-100 lbs. $180-191.

REPLACEMENT EWES Medium and Large 1-2:

San Angelo: wooled ewe lambs 117 lbs. $148 per head; wooled baby tooth $209 per head; hair ewe lambs 60-90 lbs. $200-230 cwt; mixed age hair ewes 90-150 lbs. $85-138 cwt.

NATIONAL WEEKLY LAMB CARCASS Choice and Prime 1-4:

Weight Wtd. avg.

45 lbs. Down $490.54

45-55 lbs. Price not reported

due to confidentiality

55-65 lbs. Price not reported

due to confidentiality

65-75 lbs. $324.95

75-85 lbs. $312.97

85 lbs. and up $300.39

Sheep and lamb slaughter under federal inspection for the week to date totaled 39,000 compared with 40,000 last week and 34,000 last year.

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Selected Western hay price report http://www.capitalpress.com/Markets/20160725/selected-western-hay-price-report http://www.capitalpress.com/Markets/20160725/selected-western-hay-price-report#Comments Mon, 25 Jul 2016 10:15:10 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729937 Hay prices are dollars per ton or dollars per bale when sold to retail outlets. Basis is current delivery FOB barn or stack, or delivered customer as indicated.

Grade guidelines used in this report have the following relationship to Relative Feed Value (RFV), Acid Detergent Fiber (ADF), TDN (Total Digestible Nutrients), or Crude Protein (CP) test numbers:

Grade RFV ADF TDN CP

Supreme 185+ <27 55.9+ 22+

Premium 170-185 27-29 54.5-55.9 20-22

Good 150-170 29-32 52.5-54.5 18-20

Fair 130-150 32-35 50.5-52.5 16-18

Utility <130 36+ <50.5 <16

WASHINGTON-OREGON HAY

(Columbia Basin)

(USDA Market News)

Moses Lake, Wash.

July 22

This week FOB Last week Last year

20,860 39,000 8,585

Compared to July 15: All grades of Export and Domestic Alfalfa and export Timothy steady to weak. Thunderstorms across the trade area this week slowed trade. Trade moderate to active this week with moderate to good demand. Retail/Feedstore steady in a light test. Demand remains good.

Tons Price

Alfalfa Mid Square Prem/Sup. 50 $160

Good/Prem. 5000 $150

Good/Prem. 5950 $125-150

Alfalfa Small Square Good/Prem. 30 $175

Good/Prem. 250 $120

Alfalfa/Orchard Mix Small Square Good/Prem. 30 $185

Orchard Grass Small Square Premium 175 $220-230

Timothy Grass Mid Square Premium 4500 $180-200

Good 2750 $145-150

Good/Prem. 2125 $125-130

OREGON AREA HAY

(USDA Market News)

Portland, Ore.

July 22

This week FOB Last week Last year

6,827 5,212 6,172

Compared to July 15: Most demand lies with the retail/stable hay. Recent rain storms have slowed movement this past week. Many hay producers are selling or have already sold most of their first cutting hay, and are working on second cutting resulting in higher volumes of hay moving.

Tons Price

CROOK, DESCHUTES, JEFFERSON, WASCO COUNTIES

Alfalfa Small Square Premium 2 $225

Good/Prem. 25 $200

Alfalfa/Orchard Mix Small Square Premium 5 $220

Orchard Grass Small Square Premium 25 $210

Good 5 $150

Meadow Grass Small Square Premium 25 $215

Mixed Grass Small Square Premium 15 $200

Orchard/Bluegrass Small Square Premium 20 $230

Barley Small Square Premium 5 $180

EASTERN OREGON

Alfalfa Large Square Good/Prem. 1850 $125

Timothy Grass Small Square Premium 20 $170

HARNEY COUNTY

Alfalfa Large Square Premium 130 $180

Orchard/Timothy Small Square Good/Prem. 1050 $175

KLAMATH BASIN

Alfalfa Large Square Fair 120 $100

Alfalfa/Orchard Mix Small Square Premium 12 $220

LAKE COUNTY

Alfalfa Large Square Premium 20 $200

100 $270

15 $150

Good/Prem. 25 $150

Small Square Premium 30 $175

20 $200

Good/Prem. 30 $175

Orchard Grass Small Square Good 10 $200

Timothy Grass Large Square Premium 150 $200

Alfalfa/Triticale Mx Large Square Fair 200 $125

IDAHO HAY

(USDA Market News)

Moses Lake, Wash.

July 22

This week FOB Last week Last year

500 8,100 2,800

Compared to July 15: Export Alfalfa steady in a light test. Other grades not tested this week. Trade slow with very light demand. Retail/feed store/horse not tested this week.

Tons Price

Alfalfa Mid Square Premium 500 $135

CALIFORNIA HAY

(USDA Market News)

Moses Lake, Wash.

July 22

This week FOB Last week Last year

16,900 15,090 6,297

Compared to July 15: All classes traded steady. Demand moderate. According to the U.S. Drought monitor, this is the dry season for the West Coast, so changes to the drought monitor are very rare this time of year.

Tons Price

REGION 1: NORTHERN INTERMOUNTAIN

Includes the counties of Siskiyou, Modoc, Shasta, Lassen, and Plumas.

Alfalfa Supreme 750 $160

225 $165

Premium 300 $120

Wheat Good 220 $80

REGION 2: SACRAMENTO VALLEY

Includes the counties of Tehama, Glenn, Butte, Colusa, Sutter, Yuba, Sierra, Nevada, Placer, Yolo, El Dorado, Solano, Sacramento.

Alfalfa Good 150 $130

Good/Prem. 50 $120

Fair 425 $100-125

Forage Mix-Three Way Good 100 $65

REGION 3: NORTHERN SAN JOAQUIN VALLEY

Includes the counties of San Joaquin, Calaveras, Stanislaus, Tuolumne, Mono, Merced and Mariposa.

Alfalfa Supreme 55 $210

975 $225-230

Premium 100 $180

Fair 1000 $110

2000 $103

175 $95

1000 $125

2000 $115

Utility/Fair 225 $80

REGION 4: CENTRAL SAN JOAQUIN VALLEY

Includes the counties of Madera, Fresno, Kings, Tulare, and Inyo.

Alfalfa Good 300 $195

25 $325

Fair 5000 $125

Forage Mix-Three Way Good 100 $100

REGION 5: SOUTHERN CALIFORNIA

Includes the counties of Kern, Northeast Los Angeles, and Western San Bernardino.

No sales reported.

REGION 6: SOUTHEAST CALIFORNIA

Includes the counties of Eastern San Bernardino, Riverside, and Imperial.

Alfalfa Good 325 $110

Good/Prem. 100 $80

150 $90

Fair 1150 90

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West Coast grain price report http://www.capitalpress.com/Markets/20160725/west-coast-grain-price-report http://www.capitalpress.com/Markets/20160725/west-coast-grain-price-report#Comments Mon, 25 Jul 2016 10:10:09 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729938 Grains are stated in dollars per bushel or hundredweight (cwt.) except feed grains traded in dollars per ton. National grain report bids are for rail delivery unless truck indicated.

PORTLAND GRAIN

(U.S.DA Market News)

Portland

July 21

PACIFIC NORTHWEST MARKET SUMMARY

Cash wheat bids for July delivery ended the reporting week on Thursday, July 21, were mixed, mostly lower compared to last week’s noon bids for July delivery.

September wheat futures ended the reporting week on Thursday, July 21, lower as follows compared to July 15 closes: Chicago wheat futures were 16.25 cents lower at $4.1775, Kansas City wheat futures were 10.25 cents lower at $4.0750 and Minneapolis wheat futures trended 13.75 cents lower at $4.8625. Chicago September corn futures trended 23.50 cents lower at $3.3425 and August soybean futures closed 51.25 cents lower at $10.3250.

Bids for U.S. 1 Soft White Wheat delivered to Portland in unit trains or barges during July for ordinary protein trended 2.25 to 28 cents per bushel lower compared to week ago prices for the same delivery period at $4.9775-5.18.

Some exporters were not issuing bids for nearby delivery. White club wheat premiums were zero to 10 cents per bushel over soft white wheat bids this week and last week.

One year ago bids for U.S. 1 Soft White Wheat any protein for July delivery by unit trains and barges to Portland were not available and bids for White Club Wheat were also not available.

Forward month bids for soft white wheat ordinary protein were as follows: August New Crop $4.9775-5.18 and September $4.9775-5.24.

One year ago, forward month bids for soft white wheat for any protein were as follows: August New Crop through November not available.

Bids for U.S. 1 Soft White Wheat guaranteed maximum 10.5 percent protein during July trended 11.25 to 16.25 cents per bushel lower than week ago prices for the same delivery period at $4.9775-5.1275.

Some exporters were not issuing bids for nearby delivery.

White club wheat premiums for guaranteed maximum 10.5 percent protein soft white wheat this week were zero to ten cents per bushel over soft white wheat bids this week and last week.

One year ago bids for U.S. 1 Soft White Wheat any protein for July delivery by unit trains and barges to Portland were $6.4975-6.62 and bids for White Club Wheat were also $6.4975-6.62.

Forward month bids for soft white wheat guaranteed 10.5 percent proteins were as follows: August New Crop and September $4.9775-5.1775.

One year ago, forward month bids for soft white wheat for any protein were as follows: August New Crop and September $6.4975-6.6975, October and November $6.5325-6.8325.

Bids for 11.5 percent protein U.S. 1 Hard Red Winter Wheat for July delivery were mixed, from 5.25 cents lower to 4.75 cents per bushel lower compared to July 15 noon bids for July delivery. Some exporters were not issuing bids for nearby delivery. Bids were as follows: July $4.9250-5.0250, August New Crop $4.7750-5.0750, September $4.9250-5.0750, October and November $5.1350-5.3850.

Bids for non-guaranteed 14.0 percent protein U.S. 1 Dark Northern Spring Wheat for Portland delivery during July were 8.75 to 13.75 cents per bushel higher than July 15 noon bids for the same delivery period. Some exporters were not issuing bids for nearby delivery. Bids for non-guaranteed 14 percent protein were as follows: July $5.6625-5.8125, August New Crop and September $5.6625-5.9125, October and November $6.1225.

COARSE FEEDING GRAINS

Bids for U.S. 2 Yellow Corn delivered full coast Pacific Northwest - BN shuttle trains for July delivery were 13.50 to 17.50 cents lower from $4.4425-4.4825 per bushel.

Forward month corn bids were as follows: August $4.4625-4.5025, September $4.4425-4.4925, October $4.4075-4.4175, November $4.4075-4.4275 and December $4.4275-4.4475.

Bids for U.S. 1 Yellow Soybeans delivered full coast Pacific Northwest - BN shuttle trains for July delivery were 49.25 to 51.25 cents lower from $11.3250 per bushel. Forward month soybean bids were as follows: August $11.3250, September $11.3750, October $11.3950, November $11.3750 and December $11.3275-11.3475. Bids for U.S. 2 Heavy White Oats for June delivery trended steady at 3.1925 per bushel.

PACIFIC NORTHWEST EXPORT NEWS

There were 12 grain vessels in Columbia River ports on Thursday, July 21, with five docked compared to eight last week with two docked. There were no new confirmed export sales this week from the Commodity Credit Corporation (CCC) of the USDA.

CALIFORNIA GRAINS

(U.S.DA Market News)

Portland

July 21

Prices in dollars per cwt., bulk Inc.= including; Nom.= nominal; Ltd.= limited; Ind.= indicated; NYE=Not fully estimated.

GRAIN DELIVERED

Mode Destination Price per cwt.

BARLEY – U.S. No. 2 (46-lbs. per bushel)

FOB Kern County NA

Rail Los Angeles NA

Stockton-Modesto-Oakdale-Turlock NA

Kings-Tulare-Fresno Counties NA

Glenn County NA

Colusa County NA

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock NA

Kings-Tulare-Fresno Counties $8.70

CORN-U.S. No. 2 Yellow

FOB Turlock-Tulare $7.84

Stockton-Modesto-Oakdale-Turlock NA

Kings-Tulare-Fresno $6.95-7.50

Rail Single Car Units via BNSF

Chino Valley-Los Angeles $8.18-8.22

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock $8.15

Los Angeles-Chino Valley NA

Kings-Tulare-Fresno Counties $8.15

Glenn County NA

SORGHUM-U.S. No. 2 Yellow

Rail Los Angeles-Chino Valley

via BNSF Single $8.04

Truck Modesto-Oakdale-Turlock NA

OATS-U.S. No. 1 White

Truck Petaluma NA

Stockton-Modesto-Oakdale-Turlock NA

Rail Petaluma NA

WHEAT-U.S. No. 2 or better-Hard Red Winter

(Domestic Values for Flour Milling)

Los Angeles 12 percent Protein NA

Los Angeles 13 percent Protein NA

Los Angeles 14 percent Protein NA

Truck/Rail Los Angeles 11-12 percent Protein

Los Angeles 12 percent Protein NA

Los Angeles 13 percent Protein NA

Los Angeles 14 percent Protein NA

FOB Tulare-Kern-Merced NA

WHEAT-U.S. Durum Wheat

Truck Imperial County $9

Kings-Tulare-Fresno Counties NA

WHEAT-Any Class for Feed

FOB Tulare NA

Kings-Tulare-Fresno Counties $8

Kern County NA

Truck/Rail Los Angeles-Chino Valley NA

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock NA

King-Tulare-Fresno Counties NA

Fresno NA

Merced County NA

Colusa County NA

Kern County NA

Prices paid to California farmers, seven-day reporting period ending July 14:

WHEAT, U.S. No. 1, Hard Amber Durum for Flour Milling

Imperial $9.00 Spot Del locally

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California shell egg price report http://www.capitalpress.com/Markets/20160725/california-shell-egg-price-report http://www.capitalpress.com/Markets/20160725/california-shell-egg-price-report#Comments Mon, 25 Jul 2016 10:03:34 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729939 Shell egg marketer’s benchmark price for negotiated egg sales of USDA Grade AA and Grade AA in cartons, cents per dozen. This price does not reflect discounts or other contract terms.

DAILY CALIFORNIA SHELL EGGS

(USDA Market News)

Des Moines, Iowa

July 22

Benchmark prices are steady. Asking prices for next week are 18 cents lower for Jumbo, 20 cents lower for Extra Large and Large and 17 cents lower for Medium and Small. Trade sentiment is lower. Offerings are moderate for Jumbo and heavy on the balance of sizes.

Demand into all sectors is light to seasonally moderate at best. Supplies are moderate to instances heavy and most distributive buyers are in no hurry to purchase additional shell eggs. Market activity is slow. Small benchmark price 67 cents.

Size Range Size Range

Jumbo 151 Extra large 129

Large 119 Medium 87

SOUTHERN CALIFORNIA

Prices to retailers, sales to volume buyers, USDA Grade AA and Grade AA, white eggs in cartons, delivered store door.

Size Range Size Range

Jumbo 103-114 Extra large 55-66

Large 50-59 Medium 25-34

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National feeder and stocker cattle report http://www.capitalpress.com/Markets/20160725/national-feeder-and-stocker-cattle-report http://www.capitalpress.com/Markets/20160725/national-feeder-and-stocker-cattle-report#Comments Mon, 25 Jul 2016 10:00:23 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729940 Cattle prices in dollars per hundredweight (cwt.) except some replacement animals per pair Oregon head as indicated.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

July 22

This week Last week Last year

329,100 113,400 162,600

Compared to June 15: Feeder steers and heifers sold mostly steady with instances of $3 lower to $3 higher. The real summer heat moved in this week as we hit the dog days of summer, with extremely hot and humid weather curtailing receipts across much of cattle country, including some major auction barns. It’s difficult and dangerous for both man and beast to move cattle in such conditions. Heat stress and weight loss make handling and transporting cattle very unappealing and the risk of death loss skyrockets when the heat index is so high.

Demand was still good for the cattle that did make it town even as the cash market remained under pressure. Cattle futures were extremely volatile with nearly all months hitting contract lows throughout the week but as has been proven over and over, strong fundamentals no longer have any sway over futures activity.

The bulk of the fat cattle trade was pretty much wrapped up on July 20, with live sales mostly $2 lower at $115-115.50 (for extended delivery) and dressed sales $2 lower as well, $184.50-186, the lowest prices seen in four years.

It has been frequently discussed that negotiated sales make up only a small percentage of fat cattle sales as so much of the packers’ supply is already captive. The lack of competition this creates really hurts slaughter cattle trade as packers simply don’t have huge needs to fill anymore. The previous week’s slaughter numbers ended up being larger than expected at 594,000 head.

July kill levels have been huge because it was profitable for the packer, and the weekly kill will stay high as long as packer margins remain positive.

Fundamentally, this will help feedlots stay current and at some undetermined point will mean a better fat market. Instead of feeding cattle too long like many feedlots did last summer, many are now pulling green cattle forward.

As expected, boxed beef made new lows for the year but since packers are still enjoying impressive margins, seasonally weaker box prices aren’t an issue so long as their supply is replaced at lower prices.

The high heat that was discussed earlier in this report also hurts demand at the meat counter, and with lots of beef in the channel, prices at the supermarket will have to stay competitive with other proteins to keep beef cuts moving.

It is generally hard to find much optimism for the beef complex in July, but one bit of positive news for the feeder market this week was Monday’s Crop Progress Report which rated 76 percent of the nation’s corn and 71 percent of beans in good to excellent condition.

Hot weather and timely rains have worked together to create what is expected to be another outstanding crop.

The monthly Cattle on Feed report has not yet been released at the time of this report but analysts expect placements and marketings to be well over year ago levels.

No surprises there, but a larger number of heifers on feed is also expected, showing that herd expansion is slowing. Moving forward, increased marketing levels will be critical to maintain feedlots as feeder cattle supplies are expected to be very heavy this fall. Auction volume this week included 54 percent weighing over 600 lbs. and 36 percent heifers.

AUCTIONS

This week Last week Last year

105,700 162,200 121,100

WASHINGTON 1,600. 69 pct over 600 lbs. 26 pct heifers. Steers: Medium and Large 1-2 650-700 lbs. $142.24; 750-800 lbs. $129.87; 800-850 lbs. $130.45. Heifers: Medium and Large 1-2 600-650 lbs. $132.38.

DIRECT

This week Last week Last year

50,600 62,300 29,000

SOUTHWEST (Arizona-California-Nevada) There were no direct sales reported.

NORTHWEST (Washington-Oregon-Idaho) 2,400. 95 pct over 600 lbs. 18 pct heifers. Steers: Large 1 Current FOB Price 900-1000 lbs. $125-133 Oregon-Washington. Medium and Large 1-2 Future Delivery FOB Price 650 lbs. $134.50 calves for October Oregon; 800 lbs. $129 for November Oregon. Large 1 Future Delivery Delivered Price 900-950 lbs. $137 for August-September Idaho. Heifers: Medium and Large 1-2 Current FOB Price 850-900 lbs. $125 Washington. Large 1 Current Delivered Price 850-900 lbs. $119 Idaho. Medium and Large 1-2 Future Delivery FOB Price 600 lbs. $129 calves for October Oregon.

NATIONAL SLAUGHTER CATTLE

(USDA Market News)

Oklahoma City, Okla.

July 22

Slaughter cattle trade in Texas and Kansas $1-2 lower. Live trade in Nebraska sold $1-3 lower while dressed trades were $1-5 lower. Demand moderate.

Boxed Beef prices July 22 averaged $194.83 down $4.20 from July 15. The Choice/Select spread is 10.52. Slaughter cattle on a national basis for negotiated cash trades through July 22 totaled about 95,396 head. The previous week’s total head count was 92,584 head.

Midwest Direct Markets: Live Basis: Steers and Heifers: $114-115.50. Dressed Basis: Steers and Heifers $182-186.

South Plains Direct Markets: Live Basis: Steers and Heifers $113-115.

Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls mostly $1 to $6 lower than last week. Cutter Cow Carcass Cut-Out Value Friday at the close on July 22 was $172.92 down $1.01 from July 15.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

July 22

This week Last week Last year

2,350 5,150 4,500

Compared to July 15: Feeder cattle steady to weak. Trade slow this week in response to a lower CME Price. Demand moderate. The feeder supply included 82 percent steers and 18 percent heifers. Near 95 percent of the supply weighed over 600 lbs. Prices are FOB weighing point with a 1-4 percent shrink Oregon equivalent and with a 5-12 cent slide on calves and a 3-8 cent slide on yearlings. Current sales are up to 14 days delivery. Delivered prices include freight, commissions and other expenses.

Steers: Large 1: Current FOB Price: 900-1000 lbs. $125-133 Oregon-Washington. Medium and Large 1-2: Future Delivery FOB Price: 650 lbs. $134.50 calves for October Oregon; 800 lbs. $129 for November Oregon. Large 1: Future Delivery Delivered Price: 900-950 lbs. $137 for August-September Idaho.

Heifers: Medium and Large 1-2: Current FOB Price: 850-900 lbs. $125 Washington. Large 1: Current Delivered Price: 850-900 lbs. $119 Idaho. Medium and Large 1-2: Future Delivery FOB Price: 600 lbs. $129 calves for October Oregon.

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Selected Western livestock auctions http://www.capitalpress.com/Markets/20160725/selected-western-livestock-auctions http://www.capitalpress.com/Markets/20160725/selected-western-livestock-auctions#Comments Mon, 25 Jul 2016 09:52:40 -0400 http://www.capitalpress.com/apps/pbcs.dll/article?AID=2016160729941 Cattle prices in dollars per hundredweight (cwt.) except some replacement animals per pair or head as indicated.

California

SHASTA

(Shasta Livestock Auction)

Cottonwood, Calif.

July 22

Current week Last week

389 1,760

Compared to July 15: Slaughter cows $3 higher.

Slaughter cows: High yielding $71-76; $77-85 high dress; Boning $66-71; Cutters NA.

Bulls 1 and 2: $80-97.

Feeder steers: 650-700 lbs. $120-130; 700-750 lbs. $118-127.50; 750-800 lbs. $124-128.50; 800-900 lbs. $123-128.50.

Feeder heifers: 550-600 lbs. $123-127; 600-650 lbs. $123.50; 650-700 lbs. $115-123.50; 700-750 lbs. $115-125.

Calvy cows: No test.

Pairs: Few $1800-2175.

Washington

TOPPENISH

(Toppenish Livestock Auction)

(USDA Market News)

Moses Lake, Wash.

July 22

This week Last week Last year

1,250 2,200 1,600

Compared to July 15 at same market: Stocker and feeder cattle $4-8 lower in a light test. Trade slow to moderate with light to moderate demand and light buyer attendance. Slaughter cows and bulls $2-3 lower. Trade moderate with moderate demand. Slaughter cows 58 percent, Slaughter bulls 10 percent, and feeders 32 percent of the supply. The feeder supply included 63 percent steers and 37 percent heifers. Near 63 percent of the run weighed over 600 lbs.

Feeder Steers Medium and Large 1-2: 400-500 lbs. $149; 600-700 lbs. $139.50; 700-800 lbs. $126-131; 700-800 lbs. $121.50, Full. Medium and Large 2-3: 600-700 lbs. $134. Large 1: 1000-1100 lbs. $98-113.

Holstein Steers Medium and Large 3-4: 400-500 lbs. $93.50. Large 2-3: 300-400 lbs. $108.50-110; 400-500 lbs. $98.50; 500-600 lbs. $97.75-99.75.

Bulls Medium and Large 1-2: 300-400 lbs. $162.50.

Feeder Heifers Medium and Large 1-2: 200-300 lbs. $360, Per Head; 500-600 lbs. $133; 600-700 lbs. $125-133.75; 700-800 lbs. $119.50-123.50; 800-900 lbs. $116.50. Large 1: 900-1000 lbs. $107.50-110.50; 1000-1100 lbs. $99.50. Large 2-3: 1100-1200 lbs. $89.75.

Slaughter Cows: Boning 80-85 percent lean 1300-1900 lbs. $74-79; Lean 85-90 percent lean 1300-1800 lbs. $73-79.50; Lean Light 90 percent lean 900-1300 lbs. $63-68.

Slaughter Bulls: Yield Grade 1-2 1400-2400 lbs. $87-94.

Bred Cows (Per Head): Medium and Large 1-2: Few Young to Aged (3-10 yrs. old) 1000-1350 lbs. $925-985 1-3 mos. bred.

Idaho

CALDWELL

(Treasure Valley Livestock)

June 24

Steers (wt.): 500-600 lbs. $88.50; 600-700 lbs. $80; 700-800 lbs. $88; 800 lbs and up $71.

Steers (hd.): 100-200 lbs. $215; 300-400 lbs. $320.

Heifers (wt.): 300-400 lbs. $100; 400-500 lbs. $90.75; 500-600 lbs. $80; 600-700 lbs. $77.75; 800-900 lbs. $85.50; 900-1000 lbs. $89.50; 1000-1100 lbs. $90.25; 1100-1200 lbs. $80.25; 1200 lbs and up $81.50.

Heifers (hd.): 100-200 lbs. $130; 300-400 lbs. $315.

Bull Calf (wt.): NA.

Bull Calf (hd.): 400-500 lbs. $230.

Cows (wt.): 1100-1200 lbs. $61.25; 1200-1300 lbs. $47.75; 1300-1400 lbs. $73.75; 1400-1500 lbs. $66.75; 1500-1600 lbs. $77.25; 1600-1700 lbs. $77.25; 1700-1800 lbs. $75.25; 1800-1900 lbs. $70.50;

2000 lbs and up $61.

Heiferettes (wt.): NA.

Holstein Bulls (wt.): NA.

Oregon

MADRAS

(Central Oregon Livestock Auction)

July 18

Total head count: 237.

Baby calves: NA.

Steers: 300-400 lbs. $140-150; 400-500 lbs. $135-150; 500-600 lbs. $135-145; 600-700 lbs. $130-140; 700-800 lbs. $125-130; 800-900 lbs. $118-125.

Bulls: High yield. $94-97; Mostly $93; Thinner $85-93.

Pairs: NA.

Bred cows: NA.

Heifers: 300-400 lbs. $140-150; 400-500 lbs. $135-145; 500-600 lbs. $125-135; 600-700 lbs. $120-125; 700-800 lbs. $115-120.

Heiferettes: 850-1000 lbs. $100-115.

Cows: Heiferettes $90; Fleshy cows $75; high-yield $80; medium-yield $73; low-yield $65.

VALE

(Producers Livestock Market)

July 20

Total receipts: 350 head.

Comments: Steady market with moderate demand throughout. Not enough feeder cattle to truly test the market; butcher cow market steady to $2 higher.

Steer calves: 400-500 lbs. $141-156; 500-600 lbs. $142-149.

Heifer calves: 400-500 lbs. $124-135; 500-600 lbs. $126-133.

Yearling steers: 600-700 lbs. $132-138; 700-800 lbs. $128-136; 800-900 lbs. $119-127; 900-1000 lbs. $117-126.

Yearling heifers: 600-700 lbs. $123-130; 700-800 lbs. $104-114; 800-900 lbs. $118-126.

Light Holstein steers, 600 lbs. and under: NA. Light Holstein steers, 700 lbs. and over: NA.

Stock cows (young): NA. Stock cows (B.M.): $1000-1250.

Pairs, young: $1250-1525.

Butcher cows: $72-84.

Thin shelly cows: $53-68.

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