38 FarmNews First > BetterFarming.com Better Farming November 2016 pressure on the market. Record amounts of U.S. meat in cold storage, though, will remain a hangover near-term. Looking to 2017, carcass weights and export demand (global growth) will be the key price drivers. The fact that the summer 2017 deferred future contract months are at a discount to nearby futures suggest that there is more risk to the upside in 2017, compared to current prices. The worst may be behind us but, of course, we still need to get past the rest of 2016. Cheaper feed is a blessing but farmers should not remain too complacent as feed prices don’t tend to stay down forever. According to averages from 40 year trends, grain prices tend to bottom between Oct. 1 and Oct. 8. Having survived the downside on cattle prices (which was a drop of over 40 per cent since its peak in summer/fall 2015), we may be headed towards an upward move in the cyclical beef industry. Historically, however, markets take time to recover and it could take as long as one to three years. BF Maurizio “Moe” Agostino is chief commodity strategist with Farms.com Risk Management. Abhinesh Gopal is a commodity research analyst with Farms.com Risk Management. Risk Management is a member of the Farms.com group of companies. Visit RiskManagement.Farms.com for more information. Average Canadian Retail Beef Prices, 2012 to 2016 MOE’S MARKET MINUTE Source: Statistics Canada, Farms.com Risk Management SAVE 15% on genuine AGCO Parts with qualifying PM360 inspections and repairs. Offer valid August 1 - December 31, 2016 Preventative Maintenance From Every Angle Preventative maintenance gives you peace of mind when you’re in the field – it’s a critical factor to increasing equipment reliability, resale value, operating efficiency, and achieving maximum productivity. AGCO Parts PM360 program lets you customize a preventative maintenance plan with your dealer that fits your machines and schedule. Your AGCO Parts dealer offers one of the best warranty plans in the industry - 12 months on parts, 6 months on labor when parts are installed by a qualified AGCO Parts dealer. SCHEDULE YOUR EQUIPMENT FOR A PM360 INSPECTION. Advantage Farm Equipment Essex, Inwood, London, Thamesville, Wyoming C.L. Benninger Equipment Chatham Dan R. Equipment Gananoque, Plantagenet, Winchester Elliott Farm Equipment Pembroke Hawley’s Garage Belleville Hyde Brothers Farm Equipment Hensall McKeown Motor Sales Springbrook Shantz Farm Equipment Alma Yurke Sales & Service Comber D E A L E R S