Trading opened today’s session mostly in the green, except for feeder cattle, but late in the session corn and the soybean complex turned lower. Notables for the week included new contract lows for:
November soybeans December soymeal September SRW September HRW September HRS
Weather will continue to drive this market and an active front brings bearish showers across the Midwest next week and delivers some relief to the parched southeast. However, the high heat in the west drifts eastward later in the week. The Climate Prediction Center issued its three-month drought outlook for the U.S. As noted by Dave Juday in yesterday’s Livestock Roundup, the drought in the southeastern U.S. has adversely impacted th...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
Key Takeaways: The U.S. sheep industry is contracting. Lamb output and producer participation have declined sharply. Imports now account for most U.S. lamb consumption. Their roughly 70 percent share raises concerns about domestic capacity and resilience. USTR’s referral carries substant...
Yesterday, the USDA released its monthly World Supply and Demand Estimates (WASDE), forecasting tighter beef and pork supplies and growing broiler supplies, resulting in a tighter red meat supply. Broiler production, however, continues to grow and is forecast to be up more than 3 percent. Beef...
