Good Morning.
The results are in, and alternative proteins are... well, just an alternative for most people. Beef is still king, according to a new survey by Purdue's Center for Food Demand Analysis and Sustainability.
More than 1K consumers were surveyed regarding 15 different food attributes, including price, health, taste, and more. In all but one (animal welfare), beef came out on top.
The survey shows that both plant-based and cell-cultured meats are considered "niche products"—and seem to be a ways away from being consumers' top choice for grazing.
Stories:
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Ag Imports Go Up (And They’ll Stay There) |
"Everybody’s hands U.S. imports go up, and they stay there…"
Ag imports are projected to be higher than exports this trade year (running October 1, 2022 through September 30, 2023): $198B vs. $181B. It’s the first trade deficit since 2020.
Watch the (gap) breakdown… One of the heaviest hitters is in fresh fruits and veggies that likely weren’t produced in the U.S. during the winter months. And at the tune of $99B, that’s nothing to scoff at.
Corn exports are projected lower, soybeans should be slightly up, and overall exports for livestock, poultry, and dairy, are also sliding.
Zooming in on beef exports in particular, they’re down 13% YOY for the first half of 2023.
ICYMI, U.S. beef cattle inventories are at record low numbers. Overall the cattle industry has decreased by 3% to 95.9M head. We haven’t seen numbers this low since 2014.
And thanks to supply and demand, coupled with higher input prices, the price for beef is 25% more expensive than in 2022.
Soundbite: "I think we’re going to see higher prices for a sustained period of time because nationally, the profits aren’t there for us to start building back herds." — James Mitchell, University of Arkansas extension livestock economist
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→ Bankruptcy boom. Several food and ag-related companies have filed for bankruptcy recently—and the trend is expected to continue.
→ Food, offline. The online grocery market has declined 7% from year-ago levels, with order frequency dropping 10% in that same span.
→ Trade flow issues? Water levels are low on the Mississippi River again and could get worse in the next few months, which would put in jeopardy major trade routes.
→ Beef with Biden. Using the Antiquities Act, President Biden designated about 1M acres of land by the Grand Canyon as a national monument, upsetting the National Cattlemen’s Beef Association.
→ Falling forecasts. The USDA’s World Ag Supply and Demand Estimates are in, and smaller harvests of corn, soybeans, and more are expected.
→ Still, steel problems. Farming equipment is getting increasingly difficult to find, thanks to steel shortages and continued supply chain issues.
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The beloved Bessie’s younger, techy sister is here: OneCup AI has created the Bovine Expert Tracking and Surveillance AI technology, otherwise known as BETSY.
BETSY uses computer vision models and datasets to track and monitor bovine behavior. Insights are based on the overall behavior of the animals and are used to track calving, monitor feed, identify illness indicators, and keep an eye on estrous and breeding cycles.
New view: Data can be viewed through a smartphone, and the system can be set up for mobile operations on a gate or truck. Alternatively, a stationary setup is possible, with several cameras around the ranch. If something urgent comes up, like calving or disease symptoms, the rancher can get text or email alerts.
Users of BETSY benefit from a single-animal view of data generated over time and a herd view of collected data to analyze overall operations.
Soundbite: "As we went through the developmental process, we discovered there (were) a lot of different things on farm that producers didn’t have access to because many of these processes are very manual" — Mokah Shmigelsky of OneCup AI at the 2023 Beef Improvement Federation Symposium
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Pretty much everyone can identify tractors by their color. But can you match the slogan to the correct ag equipment brand?
- For Earth, For Life
- Rethink Productivity
- Let’s Get it Done
- Nothing Runs Like a Deere (we think this one is pretty obvious)
Answer at the bottom of the email.
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Encapsulated Crop, Root Vigor |
D3Damon from Getty Images Signature
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Row crops are popping capsules with new microbial technology.
Meristem Crop Performance released the next generation of its patented Bio-Capsule Technology™ planter box delivery system.
The company first launched the technology in September 2022. The system is designed to "carry, protect, and dispense" biologicals into a seed lubricant that’s combined with a blend of micronutrients.
Microbes stay separated from talc and zinc until planting to retain strength during crop development. That’s Meristem’s secret to "massive roots" and more nutrients.
System upgrade: The delivery system of bio-capsule technology is getting an upgrade for the next crop season. Improvements include:
A bigger pail to carry more of the technology
Larger bio-capsules for additional space between microbes to avoid clumping
Adjustments to the pail and buttons for easier release of the microbes
Right place at the right time: Meristem’s Director of Innovation and Product Management, Chris Thrasher, said it’s all about placement:
"Now we are able to bring the proper load of bios and micros to the crop and put them, safely, right where they need to be. As an industry, we’ve tried to put more on the seed through seed treatment, but available space on the seed is limited. Now we can adhere to the seed in a high enough concentration to change the effectiveness of biologicals." — Thrasher
Where this goes: Meristem said farmers are seeing the success of the delivery system. The company is confident the technology will be applied to 8.5M acres in 2024.
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Written & Edited by Amelia VanLandegen, Kelsey Faivre, Dawson Schmitt, Jen Hill and Ashley Scoby
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Magnetic Ag
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Kansas City, MO 64153
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