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September 18, 2012
Risk Management Strategies
Department of Agricultural Economics,
K-State Research and Extension …
May 21, 2013
Risk Management Strategies
Department of Agricultural Economics, K-State
Research and Extension …
January 5, 2018
Grain Market Outlook, Variable Storage Rates (VSR)
Variable Storage Rate or “VSR” calculations for the CME Kansas City Hard Red Winter Wheat futures
contract have begun. The Chicago Mercantile Exchange (CME) provides an ongoing daily record of
how VSR calculations are progressing for the MARCH 2018 to MAY 2018 futures contract spread in
comparison to what the CME calculates to be “Financial Full Carry” for wheat in storage.
Following is a statement from the CME regarding the Variable Storage Rate mechanism and its
application:
“The Exchange will implement the VSR mechanism with an initial observation period beginning on
December 19, 2017 and ending on February 23, 2018, evaluating the 2018 March – May KC HRW
Wheat calendar spread relative to financial full carry with any changes to the storage rate effective on
March 18, 2018. The storage rate will remain at 19.7/100s of one cent per bushel per day until the
VSR mechanism triggers a change to the storage rate. At which point the storage rate will become
either 16.5/100s of one cent per bushel per day if the storage rate is triggered down or 26.5/100s of
one cent per bushel per day if the storage rate is triggered up. The seasonal storage rate currently in
place for the Contracts will be suspended in lieu of the VSR mechanism, meaning the rate of 19.7/100s
of one cent per bushel per day will remain in place until triggered up or down by the VSR mechanism.”
These VSR Calculations for both Kansas City HRW Wheat futures and Chicago Wheat futures are
available at the following web address:
http://www.cmegroup.com/trading/agricultural/grain‐and‐oilseed/variable‐storage‐rate.html
These preliminary VSR calculations with the MARCH‐MAY 2018 KC HRW Wheat futures spread
running at an average of 90.40% of Financial Full Carry for the December 19, 2017 through January 4,
2018 period would indicate that the CME will be increasing its storage rate used in the VSR
calculation. Of course, the long term average through February 23, 2018 will provide the final
determination of whether such changes are made.
This potential storage rate increase would be from the starting value of $0.00197 /bu/day ($0.0591
/bu/30 days) up to $0.00265 /bu/day ($0.0795 /bu/30 days) for the March‐May 2018 period on
wheat delivered against the MARCH 2018 CME KC HRW Wheat futures contract.
Note that the CME Chicago Wheat futures carrying charge is currently at $0.00365 /bu/day ($10.95
/bu/30 days), and that the running average percent of full carry for Chicago wheat is only 51.42% for
the same period.
Following are the KC HRW Wheat futures VSR calculations for through Thursday, January 4, 2018
with added formatting from Kansas State University Extension Agricultural Economics:
http://www.agmanager.info …
July 1, 2005
Beef Cattle
spreadsheet to estimate the economic costs of a radio frequency …
December 12, 2013
Specialist
Agricultural Economics
voice: (785) 532-3527
FAX …
April 20, 2020
Fed Cattle Pricing
Department Of Agricultural Economics Extension Publication 04/20/2020 … Department Of Agricultural Economics … Department of Agricultural Economics
April 2020
A Volatile …
October 23, 2020
Ag Law Issues
Department Of Agricultural Economics Extension Publication 10/23/2020 … Department Of Agricultural Economics … manner. It also creates an economic disincentive to use property …
June 21, 2018
Animal Health
… K‐State Department Of Agricultural Economics
… 1
Value of Arrival Metaphylaxis in the U.S. Fed Cattle Industry
Elliott J. Dennis (grapple5@ksu.edu), Ted C. Schroeder (tcs@ksu.edu), Dustin L. Pendell (dpendell@ksu.edu)
Kansas State University Department of Agricultural Economics
David G. Renter (drenter@vet.ksu.edu) ‐ Kansas State University Department of Diagnostic Medicine/Pathobiology
June 2018
Introduction:
Use of antimicrobials1 in livestock production is facing intense public scrutiny. Major restaurants, food service
companies, food processors, and supermarkets have pledged to reduce the use of antimicrobials in meat
production (Pew Trust, 2016). Federal and international organizations have expressed growing concerns that use
of shared‐class2 antimicrobials in livestock production may be linked to increased health risks and antimicrobial
resistance in humans (Center of Disease Control, 2013; World Health Organization, 2012). These concerns, in
part, have prompted state and federal legislators to increase regulation and veterinary oversight of shared‐class
antimicrobials in animal production (American Veterinary Medical Association, 2009; Food and Drug
Administration (FDA) (FDA 2012, 2013).
Metaphylaxis3 is an animal health management practice in which FDA approved antimicrobials are administered
to a group of high health‐risk animals, generally via injection, to eliminate or minimize incidence of an acute
onset of a disease outbreak. While all antimicrobials are regulated by the FDA in the U.S., current policy debates
include whether to further regulate antimicrobials used for metaphylaxis. Livestock producers are concerned
that restricting or removing such a widely used production technology would be detrimental to animal health
and result in substantial animal deaths, reduced animal welfare, increased production risk, and reduced
profitability.
1 “Antimicrobial drugs include all drugs that work against a variety of microorganisms, such as bacteria, viruses, fungi, and
parasites. An antibiotic drug is effective against bacteria. All antibiotics are antimicrobials, but not all antimicrobials are
antibiotics.” (FDA 2018).
2 Shared‐class antimicrobials are used to treat disease in both human and animals.
3 Metaphylaxis is used in cattle to reduce the risk or impacts of an outbreak of bovine respiratory disease (BRD), the most
common cause of morbidity and mortality in beef cattle production affecting 97% of feedlots, 16% of cattle, and costing the
beef industry an estimated $6 billion annually (Griffin, 1997; U.S. Department of Agriculture, 2013). Metaphylaxis is used by
59% of U.S. feedlots selectively on 20.5% of cattle placed on feed across all cattle placement weights (U.S. Department of
Agriculture, 2013). …
July 19, 2021
Ag Law Issues
Department Of Agricultural Economics Extension Publication 07/19/2021 … Department Of Agricultural Economics … Department Of Agricultural Economics Extension Publication 07/19/2021 …
May 8, 2023
Department Of Agricultural Economics Extension Publication 05/08/2023 … Department Of Agricultural Economics … Department of Agricultural Economics
May 2023
World events …