As we’ve covered previously, there are a number of plans and proposals for dramatic policy changes relative to livestock and meat packing. This week, those proposals started to take a little more shape and could cloud the longer-term outlook. First, some storm clouds will hover over the farm bill debate for the next year. Senator Cory Booker (D-New Jersey) and Representative Ro Khanna (D-California) – both members of the agriculture committees in their respective chambers - introduced the Farm System Reform Act. That legislation would enact reforms to the Packers and Stockyards Act on livestock marketing, a provision it shares with the Administration’s efforts and other bills, but it would also:
Place an immediate mo...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
