Additional Market Report

By:Trent Stemmann

The current market is at two dollars and ninety four cents for corn and nine dollars and twenty cents for soybeans at Red Wing grain. The market is very poor right now because when the corn was at seven dollars everyone sold their corn and then they got a over abundance so the price went down.

First I interviewed Connor Jacobson, a local beef farmer in featherstone township. I asked him how he felt about the market prices. He replied with saying that they are too low and it needs to be higher to make any money. Next I asked Connor why he thought the crop prices were so low. He said that the last few years the country has had good yields, there has been a lot of products and the market got flooded. Connor also said that the price of fed cattle will continue to rise because there is a increase in demand for beef. He said that farmers could be profitable but they need to watch what they're spending their money on and don't spend it on things you don’t need. Connor also thinks that it is a good time to buy feeder cattle because the price is low and then it will go up and you can sell them for more.

Duane Stemman, a local farmer in belvidere say’s that the crop market prices are extremely low right now because over the last few years there has been a overproduction of corn. The weather has been good and the corn produced good to. Duane thinks that over the next few years the cattle market should go up. He said it might take awhile but eventually it will go up. He said that farming can be profitable for people with a smaller debt load, if farmers have a big debt load it will be pretty hard for them to be profitable. He thinks that it is a good time to buy feeder cattle because the prices are low and calves are being weaned and sent to market this time of year.