Chat BDC
Chat BDC is the executive briefing for farm CEOs, CFOs, and senior managers running America's largest farms. Each episode delivers concise, actionable business intelligence across all market categories. Hosted by Mike Opperman, the podcast provides concise market information to help farmers make more informed business and investment decisions. Whether you manage 2,000 cows or 20,000 acres, this is the ag business podcast built for farmer CEOs.
Episodes
A Drop In Two Milk Classes, Cattle Futures Fall a Bit, USMCA Updates and Stocks Continue Strong
Send us Fan MailToday we start with a look at a bit of a drop in Class III and Class IV milk prices, then also talk about a short blip in cattle futures and what packers are doing about it. We take a look at the future of the US Mexico-Canada trade agreement, before we end with an update on Wall Street.
A Fat-Protein Swap, Heat Coming to the Plains, Reaction to the USDA Report, and the Dow Sets a Record
Send us Fan MailToday we start with a report about fat levels outpacing protein for the first time since November. We switch to a report about heat coming to areas that have been under drought this year, then a review of what markets did in reaction to the USDA acreage and inventory report. We finish with the Dow setting new records.
The Latest USDA Acreage and Stocks Report, Dairy DMC Update and Small Cap Stock Opportunities
Send us Fan MailToday we start with a review of USDA's June acreage and inventory report, then flip to dairy where we review the Dairy Margin Coverage numbers (hint: margins are strong). We wrap up with a look at small-cap stock opportunities.
The Top Employee Complaints, An Update on Commodity Markets, and Stocks Gain Loss Ground
Send us Fan MailToday we start with a look at the top three things that employees complain about on their farming operations. We pivot to market news with an update on commodity markets ahead of tomorrow's USDA reports, and a rebound of indexes on Wall Street.
Dairy Cull Numbers Are Dropping, Pork Industry is Strong, Dump the Weather Forecasts
Send us Fan MailToday we start with an update on dairy cull cow numbers and how they are starting to throttle down a bit. Then we offer a report on the pork industry and how pork is well positioned to take advantage of consumer demand for protein. We switch over to a look at weather, including how farmers should throw out their long range weather forecasts, before ending with a quick look at finan
Three Factors Impacting the Beef Complex, Impact of European Heat, And Inflation Factors Rising
Send us Fan MailToday we start with three factors that are impacting the cattle complex. We pivot to how the European heat will impact corn markets, and finish with how a key inflation indicator is at a three-year high.
Dairy Supply Is Depressing Prices, Farm Bill 2.0 Hits the Senate, and Treasury Yields Drop Below 4.5%
Send us Fan MailToday we look at how the increasing supply of dairy products is outpacing demand and negatively impacting product prices. We shift to a deep dive on the latest iteration of the Farm Bill as the Senate begins markup soon. We finish in financial markets and look at a drop in Treasury notes as inflation fears rise and oil prices drop.
High Dairy Replacement Values, A Hot Beef Market, Drought Conditions and Falling Tech Stocks
Send us Fan MailToday we focus on $4,000 dairy heifer replacements thanks to the popularity of the beef-on-dairy management programs. We also look at why cattle markets are on such a tear, and how drought could be around for awhile in the northern corn belt. We end with financial news and how tech stocks are weighing down financial markets.
May Milk Production Report, Basis Review for Light Weight Cattle, Grain Markets Drop and Stock Markets Rise
Send us Fan MailToday we review the May USDA Milk Production report. No surprise, milk production is up on more cows being milk. We take a deep dive into basis levels for low weight cattle and why they're higher than normal. There's a quick look at commodity markets before wrapping up with news from Wall Street.
How Far NWS Will Spread, When Dairy Replacement Numbers Will Improve, and a Quiet Fed
Send us Fan MailToday we look at reports on how farm New World Screwworm will spread, then review a CoBank report on when dairy replacement numbers will start to improve. We wrap up with a look at how a quieter Federal Reserve will impact financial markets.
Carbon Credit Stagnation, Cattle on Feed Report, A Soybean Crossroads, And Cheap Gas Again!
Send us Fan MailToday we start with a look at how carbon credits, which were once in high demand by dairy producers, just aren't worth it in today's economy. We move to a quick look at the USDA cattle on feed numbers before a report on a crossroads existing in soybean markets. We finish up with a drop in gas prices below $4 per gallon.
Dairy Processing is Outpacing Supply, Percentage of Prime Beef Rises, Fertilizer Drops, and the Fed Meets
Send us Fan MailToday we look at the milk powder market and how we've got more processing available than supply can fill, which is a bit unusual for dairy. On the beef side, the percentage of beef grading prime continues to rise, thanks to continuously improving genetics, heavier carcass weights and better management. In crop news we're starting to see fertilizer prices come down, which
Rain Is Helping Dry Pastures, Milk Prices Continue to Rise, Commodities React to China and Stocks Jump
Send us Fan MailToday on Chat BDC we start with look at how timely rains have helped pastures in some drought areas, then we shift over to a milk price update which shows prices continuing to rise. Before finishing up with financial news we look at how commodity prices reacted to potential China activity.
NWS Control Guidance, A New Leadership Model on Dairies, And Five Disruptive Events for Ag
Send us Fan MailToday we get guidance on how to control New World Screwworm, and we follow that with information about how one dairy producer develops and fosters a multi-site culture. We wrap up with five things that are driving shifts in agriculture.
Sec. Rollins Inspected NWS Areas, and El Nino Is Here but So What?
Send us Fan MailToday we start with a report on a trip by Ag Secretary Rollins to the ranch where the first reported case of New World Screwworm was diagnosed. We also talk about El Nino and, now that it's here, what we can expect. We wrap up with background on TN visas and how it could help dairy producers.
A Deep WASDE Dive, Seven Months of Dairy Export Growth, And What Are Annuities?
Send us Fan MailToday we take a deep into the June USDA WASDE report (spoiler alert) there's not much change in corn and soybean markets. Dairy keeps rolling along, though, as we look at what's driving seven straight months of export growth. We finish in financial markets with a look at annuities and how they can benefit your portfolio.
Feedlot Margins Hit $450, Butter Prices are Rebounding, We've Been Historically Dry and Warren Buffett Has Advice for Farmers
Send us Fan MailWe start off today with a look at margins and prices. Feedlot margins hit $450 recently, and on the dairy side product prices maintain strength including butter, which had been soft but is rebounding. We also look at weather, with a report that shows we've been historically dry this year. The wrap is a story that looks at three things Warren Buffett says farmers should know.
A New World Screwworm Update, a Look at Commodity Markets, and Cramer Is Skiddish About Bulls
Send us Fan MailToday we get a New World Screwworm update: it's spreading but USDA has it handled. Commodity markets continue to fluctuate waiting for the big report coming out on Thursday. We finish with news from Jim Cramer, who isn't believing the strength in the bull market.
There's More New World Screwworm, Corn Drops On Investor Fallout, and Consumers Are Still Frustrated
Send us Fan MailWe start with an update on New World Screwworm. There's two new cases including a border-hopping dog. Corn futures fell off recently thanks to investors pulling out of the market over bearish weather, and the job market is strong but consumers still aren't happy.
North: We're Navigating a New Era of Dairy and Beef Markets
Send us Fan MailOn today's episode we feature a conversation I had last week with Mike North from Ever.Ag. Mike brings us up to speed on the current status of the dairy industry, including how we're continue to evolve to a solids-dominant market from breeding cattle, processing, consumer demand and everywhere in between.
Chat BDC Special: Ever.Ag Expands AI-Based Decision Tool for Livestock Operations
Send us Fan MailOn today's special episode we talk with Simon Drake, Chief Product Officer with Ever.Ag, about the expansion of Everett, their AI-based decision engine, into livestock and animal protein markets. It's fascinating technology you'll want to learn more about as you look toward improving your ability to make quick, accurate decisions on your operation.
Bigger Cattle is the New Norm, and Soybean Yields Could Be Huge This Fall
Send us Fan MailToday we'll look at how bigger cattle are probably going to be the norm moving forward and we look at improving carcass efficiency. Plus, the stars are aligning to create a record breaking soybean crop this fall. We finish with AI stocks continuing to drive Wall Street indexes to new highs.
Lee Schulz, Ever.Ag Economist: Pork Is In a Good Position With Export and Domestic Demand
Send us Fan MailOur conversation today features the pork industry with a chat with Dr. Lee Schulz, chief livestock economist with Ever.ag. He goes into detail about where we're at as an industry today, and where we're headed with strong exports and an opportunistic positioning against expensive beef.
We're Experiencing a Milk Check Revolution While Cattle Producers Are Making Tough, Drought-Driven Decisions
Send us Fan MailOur milk checks are focusing more on solids that fluid, which is changing the way we breed, feed, process and sell milk and dairy products. Plus, cattlemen are being forced to make tough decisions as drought and water resources are drying up. On the other hand, there are a few AI companies that are about to make trillions of dollars in public offerings.
No DMC Run This Month or In the Near Future, Cattle Markets Looking for Direction
Send us Fan MailToday we start with a look at the Dairy Margin Coverage program payouts. Margins are too good on dairy farms for any payments to be made, but we're still running below YOY levels. Beef markets are in a sideways pattern, looking for direction on which way to move next. And oil prices keep bouncing around.
Why Consumers Are Soaking Up Dairy And Still Buying Beef
Send us Fan MailToday we focus on consumers with stories on how export and domestic demand is soaking up the extra milk production. Speaking of consumers doing their part, we turn to the beef market and dive into why the heck consumers are still paying a mortgage payment on ribeyes. We finish up with a quick look at a drop in oil prices.
Summer May Be Wetter Than Anticipated, Cattle Rally, And Consumers Aren't Feeling It
Send us Fan MailToday we start with a look at weather and potential for a turn around in drought conditions, then switch to an update on cattle markets. We end with a look at consumer confidence.
Dairy Is On a 16-Month Heater, Corn Prices Are Falling With Oil Prices
Send us Fan MailOn today's podcast the dairy industry is on a 16-month track of higher YOY production. On the other hand, corn prices continue to stumble as oil prices fall as well.
High Replacement Prices Are Impacting Dairy Culls, Corn Futures Took a Step Back
Send us Fan MailWe start with a review of the latest USDA Livestock Slaughter report and how replacement values are impacting cull cow slaughter. We also talk about the slide in corn futures that parallels oil markets, and how tech companies continue to support Wall Street indexes.
Farmers Need Blinders On to Stay Focused On Marketing Fundamentals This Crop Season
Send us Fan MailIn our conversation today we talk to Britt O'Connell, senior director of grain risk management with Ever.ag. Britt offers great insights into the volatility in grain markets, with geopolitical impacts of Iran and China, weather diversity throughout the U.S., the impact of fund investors and managed money. To survive, farmers need to know their business fundamentals and put on
Cattle On Feed Report Is A Bear, Milk Production Continues to Grow
Send us Fan MailUSDA's May Cattle on Feed report showed placements ahead of a year ago but reduced marketings, leading to a bearish feeling in the markets. May milk production was up on--you guessed it--a larger dairy herd. In investment news, the surge in risk free treasury yields is sending bond investors in search of better opportunities.
Cargill Forces Lockout, Corn Markets Slide, SpaceX Goes Public
Send us Fan MailToday we start with Cargill announcing a lockout at one of its facilities, then we pivot to corn markets sliding a bit after a rally. We finish with news of SpaceX going public.
Global Dairy Markets Are Cautious, Drought Begins to Impact Crop Progress
Send us Fan MailToday we have a report on the latest Global Dairy Trade auction, where participants in the auction took a cautious approach indicating global dairy markets may be waiting for a shift. Also, much of the country is still dry and it may start impacting the growing season. We wrap with a stock market rally.
USDA Updates Livestock Insurance Programs, Drought Updates in Cow Country
Send us Fan MailUSDA Risk Management Agency updated livestock insurance programs this week, we talk about what producers can expect. Also we dive into the drought status for pastures in cow country, and end with a surge in bond markets on Wall Street.
USDA Lowers Beef Forecast, Raises 2027 Milk Production Forecast; Markets React to China News
Send us Fan MailUSDA released its latest forecast for beef, pork and milk production and we cover that in depth. Commodity markets showed signs of life after China told the U.S. they were going to by billions of dollars of ag products over the next three years. We wrap up with Walmart and Amazon placing emphasis on rural America.
The Impact of the U.S.-China Talks on Ag Markets
Send us Fan MailOur main focus today is reporting on the U.S.-China talks and the impact those talks will have on beef and commodity markets. We also look at a small slide in U.S. stocks.
Dairy Replacement Values Continue to Climb, While China Says 'No Thanks' to U.S. Beef
Send us Fan MailToday we center on an article from Dairy Herd Management on replacement dairy values. Hint: They aren't getting cheaper. We also report on China's pull back on export clearances for U.S. beef, and Wall Street sets new records, again.
Insights Into the Beef Industry and Genetics From Lee Leachman
Send us Fan MailToday we're excited to bring you a conversation we had with Lee Leachman, CEO of Leachman Cattle and noted beef industry and genetics expert. We talk about the current status of the beef industry, the impact that genomics has had on today's beef herd, and a look at where we're headed as an industry.
Get the Scoop On Latest WASDE Report Updates on Commodity and Livestock Markets
Send us Fan MailWe go full WASDE today with a look at corn, soybean, livestock and dairy markets. We wrap up with a stumble on Wall Street as AI stocks slump.
Trump's Meeting With China This Week Will Have Big Impact Across All Markets
Send us Fan MailWhen President Trump meets with Chinese President Xi Jinping this week, the results could have a huge impact on livestock, and commodity markets as well as on Wall Street. All three stories today focus on those potential impacts.
Record pork exports start off 2026; Commodities wait for China summit this week
Send us Fan MailWe start with a USMEF report on pork and beef exports through the first quarter of 2026. After a pivot to look at commodity markets we wrap with a look ahead to what Wall Street is looking forward to this week. The China meeting this week will have an impact on all markets, ag and non-ag.
Cheese, Butter Exports Continue to Break Records; Commodity Markets Adjust to Iran War
Send us Fan MailWe start out today with a look at dairy export results. Cheese and butter continue to dominate, and U.S. dairy exports have had positive YOY results for the past six months. In commodity markets, which direction the markets will go depends a lot on the war in Iran. Our financial news wrap up includes a positive outlook on the U.S. economy coming from the White House.
Three Things Beef Producers Need To Be Thinking About; Why Are Diesel Prices So High?
Send us Fan MailWe start this episode out with a look at three things beef producers need to focus on heading into summer. We pivot to news about why diesel prices are so high, and how long they will stay there. We wrap up with a look at labor markets.
Drought May Impact Pasture Growth, Herd Rebuilding
Send us Fan MailWe start looking at an update on the drought situation in cow-calf country, and how it's the worst since at least 2000. We then look at planting updates, which is ahead of 2025 and five year averages. The wrap up is in financial markets, as stock indexes have another stellar day.
A Review on Dairy Risk Management, a Soybean Outlook and Investor View on AI
Send us Fan MailToday we focus on an UpLevel podcast that reviews dairy risk management options. We also get a soybean forecast (hint=China plays a role) and how investors are looking at big tech AI.
Want to Keep Employees? Work on Communication.
Send us Fan MailOur latest interview is a bit different that our regular conversations with economists. Today's conversation is with one of the top experts on employee relations, Jorge Delgado with Alltech. It's a great conversation about the keys to keeping employees healthy and happy, and building a quality culture along the way.
Milk Prices Continue to Rise, Corn Exports Keep Up Record Pace
Send us Fan MailThe latest federal milk marketing order information is out and milk prices continue to slowly improve, enough that we're getting close to where we were last year. On the commodity export front, corn continues to set the pace while soybeans lag. And on Wall Street, indexes are posting their best year in six.
The Government Is Set To Help With Fertilizer Prices
Send us Fan MailAfter a look at risk management options in the dairy market, we offer an update on a news conference held by Ag Secretary Rollins regarding the status and future of fertilizer prices. We end with an update on Wall Street.
More Dairy Cows Are Heading to Slaughter; It Will Be Awhile Before the Beef Herd Expands
Send us Fan MailThe latest USDA Livestock Slaughter report shows dairy producers are sending more cows to town than in the past. Also, the drought in the High Plains is probably going to keep the beef herd from expanding (amongst other things). We wrap up with a look at consumer confidence.
Protein Demand Drives Milk Prices; There's a Farm Bill Vote Looming
Send us Fan MailDemand for protein continues to change the dynamic for milk prices. Also, we may have a Farm Bill soon with a vote pending on Thursday. We wrap up with our daily look at investments and Wall Street news.
Drought Covers 63% of The U.S. While It's Too Wet to Plant In Other Areas
Send us Fan MailToday we feature a chat we had with Brad Rippey who is an agricultural meteorologist in the U.S. Department of Agriculture’s Office of the Chief Economist, and the managing editor of the Weekly Weather and Crop Bulletin. Brad talks about the current weather and moisture situation across the U.S., where it's too dry in most areas but way to wet in others. Plus we discuss what
Base Milk Price Climbs Past $20 While the Cattle Markets Softens
Send us Fan MailThe Federal Milk Marketing Order pricing information came out this week and the May Class I base price pushed past $20/cwt, good news for dairy producers. Cattle markets softened a bit this week, and we share those numbers. In financial markets, Wall Street was a bit unstable as folks wait to see what happens in the Middle East.
USDA Reports Say Dairy Herd Continues to Grow, Beef Herd Continues to Shrink
Send us Fan MailTwo new USDA reports were out yesterday. The USDA Milk Production report showed the U.S. dairy cow herd continues to grow, although 2025 and 2026 milk production levels are starting to come closer together. Commodity prices are a bit higher thanks to weather conditions and geopolitical issues. And if energy prices don't fix themselves, Republicans could be in trouble this fall
Here's What Financially Strong Farmers Are Doing
Send us Fan MailWe start off with a recap of an UpLevel Dairy podcast featuring a Compeer analysts who discusses how financially strong farmers stay financially strong. We then look at our first crop planting report and take a look at the latest on Wall Street.
A Bit Of Sun Is Shining On An Evolving Dairy Market
Send us Fan MailMilk prices have shown promise and markets have switched to put an emphasis on protein. That's been good news for dairy farmers as we get into the second quarter of 2026, and something to consider as we look ahead to Q3 and Q4. That's the topic of today's interview with Corey Geiger, lead dairy economist with CoBank.
USDA Cattle on Feed Report, A Flip in Commodity Markets, and What Investors Value on Wall Street
Send us Fan MailToday we start with a review of Friday's USDA Cattle on Feed report, then look at how commodities flipped trends last week. We wrap up with how investors are approaching market decisions in the era of the Middle East conflict.
News for April 17, 2026
Send us Fan MailWe have monthly federal milk marketing order price information, which continues to be slightly favorable and a positive aspect to the market so far. We also look at corn futures, which include potential weather impacts. The episode wraps up with a record day on Wall Street.
News for April 16, 2026
Send us Fan MailPowder prices are skyrocketing and bringing Class IV prices with it, and we start off the podcast with that news. We then take a look at cattle futures, and wrap up with a look at financial markets and a Fed report that looks at how consumers and companies are taking a wait-and-see approach to investments.
News for April 15, 2026
Send us Fan MailFertilizer prices are 40% higher than this time last year. We take a look at why and how it's affecting input costs on this year's crop. Plus, despite all of the geopolitical activity that has happened since the end of February, the stock market is actually back to pre-war levels. We'll take a look at how that happened.
News for April 14, 2026
Send us Fan MailThere's tons of new processing capacity in the dairy industry, and we'll take a look at potential expansion opportunities. Next we'll look at an interesting development in beef markets, and wind up with our regular look at movement on Wall Street.
News for April 13, 2026
Send us Fan MailHave you been watching Wall Street bounce up and down over the past few weeks and months? Wondered what you can do to protect your investments? Today we get an expert to help us answers those questions. We talk with Matt Erickson, senior analyst with Terrain, about where we're at with investment opportunities today, where we may be headed, and how to protect ourselves from vol
News for April 10, 2026
Send us Fan MailThe March WASDE report is out and we look at the latest USDA projections for corn, soybeans, meat and dairy. Then we look at how dairy exports are doing (quite well, BTW) and then report on the continuing yoyo that is Wall Street.
News for April 9, 2026
Send us Fan MailToday we focus on how markets are reacting to the ceasefire in the Middle East. We start with a look at corn and soybeans, transition to cattle, and finish up with a look at Wall Street.
News for April 8, 2026
Send us Fan MailThe latest Global Dairy Trade report starts off this episode, then we transition to commodity market updates. We finish off with a report from JPMorgan's CEO about the current status of financial markets.
News for April 7, 2026
Send us Fan MailWe start today with a look at commodity markets, then news of a new trading partner for U.S. beef. We finish with a look at Wall Street and how stocks are reacting to ongoing news from the Middle East.
News for April 6, 2026
Send us Fan MailWelcome back after Easter - hope everyone had a great weekend. With markets closed due to the Holiday, we decided to go with an interview I did with Ben Laine, senior dairy analyst with Terrain. In the interview Ben gives an update on where we're at in the dairy markets, let's us know if the high production is sustainable, and what to expect over the next several months.
News for April 3, 2026
Send us Fan MailNew milk price reports are out and the slow, steady climb continues. We also look at how commodity prices and Wall Street markets reacted to President Trump's speech on the Middle East conflict.
News for April 2, 2026
Send us Fan MailToday we have a special episode, an interview with David Weaber, senior animal protein analyst with Terrain. In this longer conversation we cover all the topics pertinent to the beef market, from current status to feedlot/packer interactions to potential consumer demand, and more. Enjoy!
News for April 1, 2026
Send us Fan MailOn this our 100th episode, we take a look at the planting projections and inventory reports from USDA, and an in-depth look at beef markets before an exciting announcement about a new offering!
News for March 31, 2026
Send us Fan MailToday we take a look at hog inventories compared to last year, then take a deeper dive into the long and shorts of commodity markets. We finish with a quick update on Wall Street.
News for March 30, 2026
Send us Fan MailWe start the week with a look at how dairy product markets fared last week, then report on President Trump's announcement about new DEF regulations. We finish up with a quick look at rising oil costs.
News for March 27, 2026
Send us Fan MailDairy margins lead off today's discussion with a look at potential indemnity payments in the future. We also look at a potential announcement by President Trump today of another support package for U.S. farmers. We wrap up with an update on Wall Street given the most recent boost in oil prices.
News for March 26, 2026
Send us Fan MailFertilizer and fuel prices are higher, we'll start off by talking about how high they've gotten and where it might end. Then we look at beef markets and the impact the reduced throughput is having on the market, before wrapping up with a brief look at financial markets.
News for March 25, 2026
Send us Fan MailToday we learn what USDA says about dairy slaughter levels, then look at how soybean markets reacted to Trump putting off his meeting with China. We finish up in financial markets and get an update on reactions to the ongoing Middle East conflict.
News for March 24, 2026
Send us Fan MailToday we have a special episode. I had a great conversation with Britt O'Connell, senior director of grain risk management with Ever.ag. Britt provides perspective on how much of an impact higher fuel and fertilizer prices due to the crisis in the Middle East will have on farmers this spring. She also gives some great advice on how farmers can approach marketing going into th
News for March 23, 2026
Send us Fan MailTo start off the week we look at a couple of USDA reports, including the March Milk Production and Cattle on Feed reports. We finish with how investments are shifting to money market funds due to rising oil prices and potential stress on inflation.
News for March 20, 2026
Send us Fan MailNews for today includes an update on dairy replacement levels and prices, and a report on the February USDA livestock slaughter report. We finish up with a look at the impact March Madness has on business productivity.
News for March 19, 2026
Send us Fan MailDairy exports are doing well starting off 2026 but major headwinds lie in their path. Speaking of the crisis in the Middle East, fertilizer prices are starting to spike up along with oil prices, and we have some news on that front.
News for March 18, 2026
Send us Fan MailToday we look at federal milk marketing order price updates, plus how cattle markets are reacting in light of the strike at the JBS plant and geopolitical pressures. We end with a quick look at financial markets.
News for March 17, 2026
Send us Fan MailUSDA released it's Livestock, Dairy, and Poultry Outlook for March and we start with a look at any adjustments to those projections. We then turn to a look at potential crop acreage adjustments and a look at commodity markets. We wrap with a bright spot on oil prices.
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