World Perspectives
livestock

Livestock Roundup: WASDE Trims Cattle Price Outlook

The big news on the livestock side of today’s WASDE was USDA’s reduction in the fed cattle price forecast. Prices for 2024 were trimmed by $3/cwt and USDA dropped its forecast for 2025 annual average prices by $5/cwt from $191/cwt last month to $186 this month. The supply and demand situation hasn’t changed significantly, but prices have been bearish. Last week was the first time since the first week of March 2023 (when prices exceeded those from the same week in 2015) that cattle prices fell below the previous weekly record. The forecast for beef production was increased. The WASDE cited higher cow slaughter and heavier cattle weights in the second half of the year. Slaughter weights are up about 30 pounds from last...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.3025/bushel, down $0.1125 from yesterday's close.  Dec 25 Wheat closed at $5.2725/bushel, down $0.085 from yesterday's close.  Jan 26 Soybeans closed at $11.245/bushel, down $0.225 from yesterday's close.  Dec 25 Soymeal closed at $322.5/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Excitement; Over-Reaction, Under-Reaction

Like Lord Tennyson’s troops lined up in the Crimean War, sometimes we are just fodder in the commodity markets. After 40 days and 40 nights of withdrawal from government data reports, we watched as the momentum built for today’s noon EST release of USDA November WASDE report. In the...

Tariff and Macro Policy Change Announcements Coming

U.S. Trade Representative Jamieson Greer said today that the U.S. is readying an announcement to exempt a number of food and agricultural products not produced in the United States from tariffs. The announcement comes after the President mentioned coffee prices as being high, saying that the U...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.3025/bushel, down $0.1125 from yesterday's close.  Dec 25 Wheat closed at $5.2725/bushel, down $0.085 from yesterday's close.  Jan 26 Soybeans closed at $11.245/bushel, down $0.225 from yesterday's close.  Dec 25 Soymeal closed at $322.5/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Excitement; Over-Reaction, Under-Reaction

Like Lord Tennyson’s troops lined up in the Crimean War, sometimes we are just fodder in the commodity markets. After 40 days and 40 nights of withdrawal from government data reports, we watched as the momentum built for today’s noon EST release of USDA November WASDE report. In the...

Tariff and Macro Policy Change Announcements Coming

U.S. Trade Representative Jamieson Greer said today that the U.S. is readying an announcement to exempt a number of food and agricultural products not produced in the United States from tariffs. The announcement comes after the President mentioned coffee prices as being high, saying that the U...

WPI Grain Transportation Report

Dry-bulk markets were higher last week amid improved freight inquiries, tightening tonnage lists, and traders hoping for increased grain business in late November and early December. Despite hopes to the contrary, there has been essentially no confirmation of any U.S. grain export business to C...

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