What You Need to Know Today:
It was a quiet trading day across major agricultural commodities, with most contracts closing within 1 percent of the previous day's settlement. Trading volumes for corn and the soy complex were lighter than earlier in the week, as traders were positioning before and after the June WASDE was released. The major agricultural-related news today was JBS announcing the closure of its Souderton, Pennsylvania beef plant on 14 August. The plant had a slaughter capacity of about 2,000 cattle per day. The closure will affect approximately 1,700 workers. President Trump called Iran “dishonorable” after its state media reported inaccurate descriptions of a potential U.S./Iran agreement. Pakistan, a key mediato...
What You Need to Know Today: The G7 agreed to release 100 million barrels of crude oil and fuel reserves over four months, with a substantial diesel release front-loaded into the first 20 days. The announcement initially pushed crude oil lower on Friday, although it later recovered a portion o...
In a recent social media post, R-CALF unveiled its latest cattle market plan: “contracts that bind producers before establishing a base price, then tie that price to future negotiated cash transactions, should be prohibited.” That proposal aligns with recent legislation by Represent...
Key Takeaways: The recent pearl-clutching from parts of the beef industry regarding the loss of the daily Kansas fed cattle negotiated trade pricing report is overwrought and ignores the fact that the direction was readily apparent. The shift away from negotiated trade has been well docu...
