Ag Forecast: Peanuts

first_imgUniversity of Georgia agricultural experts will give a forecast of agriculture in the coming year at a series of events set across the state in January. The new year looks bright for Georgia livestock producers, but not for many row crop farmers.Georgia Ag Forecast is an annual seminar series that informs Georgia producers and industry leaders about the market outlooks for different commodities.Economists from the University of Georgia Center for Agribusiness and Economic Development (CAED) and UGA Department of Agricultural and Applied Economics will share their views about future markets for such commodities as cotton, peanuts, corn and livestock.The annual seminar series will be held Jan. 14-23 in Gainesville, Cartersville, Bainbridge, Lyons, Tifton and Macon. Extension livestock economists will present Georgia cattlemen with encouraging news.“I think, in 2015, cattlemen will be looking at pretty similar prices to what they had this past year, depending on when they sold. Last year we started off the year somewhere around $1.80 per pound for a 500-pound calf. That market today is almost $2.75. You’ve seen almost a $1 increase in a year,” said Curt Lacy, the Extension livestock economist based on the UGA campus in Tifton. Farmers who sold their stock in January or February of 2014 are going to receive a much better price this year, he said. Lacy expects prices to remain high, which is good news for cattlemen in Miller, Colquitt and Early counties. Those three south Georgia counties finished in the top 10 in farm gate values for beef cow production in 2013, according to the UGA CAED, joining Morgan, Madison, Carroll, Wilkes, Franklin, Jackson and Coffee counties.“I think, in general, this is about where we’re going to be for the next year or two,” Lacy said.While cattlemen can expect good news at this year’s Ag Forecast events, row crop farmers will get disappointing news. Cotton prices are hovering at 60 cents per pound, peanuts are $400 per ton and corn prices are around $4.10 per bushel. Those are discouraging figures for Georgia farmers who are planning next year’s crops. “It’s not as rosy a forecast for row crops as we’ve had in years past,” said UGA Extension agricultural economist Nathan Smith. For peanut growers, the news is especially grim as prices could fall even more as acreage is expected to increase in 2015, Smith said. “This year is more of a getting-by year, in terms of cash flow. The outlook isn’t as bright for row crops,” he said.Nearly 1,000 business people, producers and community leaders attended the seminars in 2014.“The main objective of the Ag Forecast seminar series is to provide Georgia producers and agribusiness leaders with information on where we think the industry is headed in the upcoming year,” said Kent Wolfe, director of the UGA CAED. “It helps farmers plan what they’re going to plant in the next year, but it’s also good for bankers and others who do business with farmers or who will be impacted by the farm economy.”The Georgia Ag Forecast seminar series is organized by the University of Georgia College of Agricultural and Environmental Sciences. This series is made possible through the Georgia Farm Bureau Land Grant University Lecture Series Endowment and is supported by the Georgia Department of Agriculture and the Georgia Agribusiness Council.For more information or to register for the 2015 Ag Forecast series, see www.georgiaagforecast.com, follow @UGA_CollegeofAg on Twitter or search for #agforecast on social media.last_img read more

LPG Shipping Market Brushes off Saudi Arabia Drone Attacks

first_imgThe September drone attacks on Saudi Arabian oil facilities that affected 60% of the country’s LPG production did not end up having a considerable impact on the global LPG shipping market, according to maritime research consultancy Drewry.The consultancy attributed the industry’s resiliency to the incident to Saudi Arabia’s stockpile and increased exports from the U.S.The drone attack in Saudi Arabia on September 14, in which oil installations were targeted, forced the country to shut down its key Abqaiq oil processing plant and the Khurais oil field, which took out almost half of Saudi oil production. As most of the LPG produced in the country is through associated gas production, about 60% of the country’s LPG production was estimated to be affected. Saudi Arabia exported 8.3 million tonnes of LPG in 2018 and 4.2 million tonnes in 1H19.The LPG market experienced an initial shock following the attack, with LPG prices rising over 10% in Asia, but they soon fell after an assurance of continuing supplies from Saudi. The country also released their cargo acceptances for October loadings without any cancellations, which further eased market fears. However, Saudi Arabia delayed cargoes to countries such as India, which compelled the latter to seek additional cargoes from alternative sources such as the UAE in light of the increased demand before the Indian festive season.Looking ahead, Drewry said it expects Saudi Arabia’s contract prices for October 2019 to increase over USD 50 per tonne from USD 350 per tonne in September. According to the consultancy, the increase in October will mark an end to three successive monthly declines in Saudi CP rates and will trigger renewed LPG trading activity in the market.Any rise in Saudi CP prices will cause the U.S.-Asia propane price arbitrage to expand, favoring increased exports from the U.S.The consultancy concluded that a rise in VLGC rates could be expected as the attack on Saudi Arabia will push more vessels to move towards the U.S. from the Middle East. VLGC spot rates on the benchmark AG-Baltic route increased to USD 67.1 per tonne on September 27 from USD 58.7 per tonne before the Saudi attack on September 14.last_img read more

NBA All-Star 2019: Team LeBron vs. Team Giannis by the numbers

first_imgThe 2019 All-Star Game is almost here.Lakers star LeBron James and Bucks forward Giannis Antetokounmpo completed the first ever televised draft last week. James selected Kevin Durant with his top choice and Antetokounmpo followed by picking Stephen Curry. Complete rostersTeam LeBron— Kevin Durant— Kyrie Irving— Kawhi Leonard— James Harden— Anthony Davis— Klay Thompson— Damian Lillard— Ben Simmons— LaMarcus Aldridge— Karl-Anthony Towns— Bradley Beal— Dwyane WadeTeam Giannis— Stephen Curry— Joel Embiid— Paul George— Kemba Walker— Khris Middleton— Nikola Jokic— Russell Westbrook— Blake Griffin— D’Angelo Russell— Nikola Vucevic— Kyle Lowry— Dirk NowitzkiTeam ComparisonTeam LeBron NBA All-Star 2019: 5 most intriguing lineup combinations NBA All-Star 2019: LeBron James, Giannis Antetokounmpo discuss first televised draft Team Giannis81Combined All-Star appearances  5215,923Combined points14,3264,783Combined rebounds5,1593,360Combined assists3,68111,681Field goals attempted10,8815,703Field goals made5,1163,6943-pointers attempted3,8291,4093-pointers made1,394Team LeBron vs. Team Giannis by the numbers— James will be playing in his 15th All-Star game. He’ll tie Kobe Bryant and former Spurs star Tim Duncan for the second most appearances in NBA history.— James will enter Sunday’s contest with 343 All-Star game points. That’s already the most by any player ever. He also holds the record for most field goals made and attempted.— Dwyane Wade needs three steals to become just the fourth player ever to tally 30 or more in their All-Star careers. Kobe Bryant, Michael Jordan and Isiah Thomas are the only three others to reach that mark.— The players with the top six individual scoring averages in All-Star history will appear in the game Sunday. They are: James (24.5), Pelicans forward Anthony Davis (24.5) Thunder guard Russell Westbrook (24.4), Warriors forward Kevin Durant (24.3), Pistons forward Blake Griffin (21.8) and Thunder forward Paul George (20.8).— James was also a captain in last year’s game, which was the first that did not feature the East vs. West format. He scored 29 points to lead his squad to a 148-145 victory over Team Curry. The 293 combined points were the fewest since the 2013 game. Three of James’ first four picks were impending free agents while Antetokounmpo chose multiple first-time All-Stars.The game will be played Sunday, Feb. 17 at the Spectrum Center in Charlotte, North Carolina. Here are some numbers to know about the matchup. Related News — Warriors sharpshooter Stephen Curry has made just 33.9 percent of his 3-point attempts in All-Star games. Celtics guard Kyrie Irving is fourth all-time in that category at 48.4 percent.Stats provided by OptaLarrylast_img read more