Today was more like what is expected just before a major holiday. Trading volume was generally lower for everything but the live cattle contract. February Live Cattle lost 40-cents but there were gains in the deferred contract. Most markets closed lower today but small gains were made in HRW, feeder cattle and lean hogs.
Priming the lean hog market were robust export sales last week. Overall, USDA’s weekly Export Sales report was bearish. After roaring sales the week before, newly reported soybean commitments were lackluster and below expectations. Similarly, corn sales were underwhelming. Soyoil sales were modest but notably were the best that have been seen in five weeks.
Overall, the market continues to trade sidewa...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
