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: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
