Live cattle saw initial weakness on Friday, as contracts closed with gains of 20 to 55 cents. Cash was mixed around this week, with the South seeing action anywhere from $183-185, and the North at $186-187. Feeders were on a mixed note at the close with strength in corn pressuring...
The wheat complex saw stronger trade on Friday, with assistance from some bull friendly USDA numbers. Chicago contracts were up 18 ¼ to 26 cents across most active contracts. Kansas City futures were up 12 ¾ to 21 ½ cents across the board to round out the week. MPLS spring...
The cotton market closed with losses of 55 to 133 points across most contracts on Friday, despite USDA calling for a tighter carryout on old crop. The Friday afternoon Commitment of Traders report showed spec adding 11,765 contracts to their new net short position as of 5/7 at 13,699 contracts....
Lean hogs saw gains of 20 to 87 cents across most contracts on Friday, with May down 25 cents and sticking close to the index ahead of next week’s expiration. USDA’s National Average Base Hog negotiated price was down 94 cents in the Friday PM report at $88.41. The CME...
Bean futures saw Friday action heading higher into the weekend, as contracts were up anywhere from 1 ¾ to 12 ¼ cents across the board. Soymeal futures were down $1-$2.40/ton. Soy Oil was in rally mode to end the week, with contracts up 104 to 180 points. Weekly data from...
Corn futures posted gains of 4 ¼ to 13 ¼ cents on the Friday session. Futures closed out the day near the highs, following the release of some bull friendly USDA data. In the Friday afternoon Commitment of Traders report, CFTC data showed spec funds in corn futures and options...
Live cattle are posting mixed trade on Friday, as contracts are down 55 cents to 22 higher across the board. Cash trade has been slow to develop this week, with trade reported this morning at $184-185 in the South and $186 in the North. Feeders are trading with contracts 40...
The cotton is down 100 to 172 points across most contracts on Friday. The outside market influences are not helpful at midday, as the US dollar index is slightly higher, with crude oil down 82 cents. USDA’s final cotton production estimate was released at 12.07 million bales this morning, as...
The wheat complex is posting strong double digit gains on Friday. Chicago contracts are up 16 to 17 cents across the nearbys. Kansas City futures are trading 16 cents to the upside at midday. MPLS spring wheat futures are 13 to 15 cents in the green. USDA added 10 mbu...
Corn futures are rallying post-USDA release on Friday, as contracts are up anywhere from 8 to 10 cents across most nearby months. This morning’s USDA WASDE report showed the old crop US stocks dropping 100 mbu to 2.022 bbu on increase to exports and FSI. The new crop balance sheet...
Lean hogs are showing 60 cent to $1.02 stronger trade on Friday , with May down 27 cents and sticking close to the index ahead of next week’s expiration. USDA’s National Average Base Hog negotiated price was down $1.09 in the Friday morning report at $87.87. The CME Lean Hog...
Bean futures are up 2 to 4 cents across the front months on Friday, despite not much in terms of bull friendly numbers from USDA. Soymeal futures are down $2.60-$3.80/ton. Soy Oil is posting strong gains of 178 to 187 points The monthly WASDE update this morning saw WAOB unchanged...
Live cattle felt weaker on Thursday, as contracts were down 45 to 90 cents across the board on the day. Cash trade has been slow to develop this week, with the Central Stockyards Fed Cattle Exchange selling 374 of the 1,890 head for an average of $185. Feeders ended the...
Lean hogs fell 55 cents to $1.40 across the board on Thursday. USDA’s National Average Base Hog negotiated price was down $2.44 in the Thursday afternoon report at $89.35. The CME Lean Hog Index was up 25 cents on May 7 at $91.28. Pork export sales were 24,410 MT in...
The cotton market is trading 77 to 94 points lower as we head into USDA”s first official supply/demand forecast for 2024/25 crop cotton. Futures resumed their slide on Thursday, down 93 to 168 points. That was despite a round of positive export data for the bulls. Cotton limits are back...