Key Takeaways:
The situation in the Persian Gulf is unchanged with any ceasefire still subject to interruptions from both U.S. and Iranian attacks. The Strait of Hormuz remains effectively closed, though somme vessels are still sneaking out after turning off their AIS. The U.S. fired a Hellfire missile into the engine room of the VLCC Lexie (298,900 dwt) after the vessel ignored warnings while ballasting towards Iran’s Kharg Island. Supposedly in retaliation, Iran stuck an MSC containership with no U.S. ties on Monday. Dry-bulk markets are mixed with the larger vessel classes pulling back amid limited cargo demand while the Handysize ...
Beef packer margins improved to -$130/head last week, up $44 from the prior week as sharply lower fed cattle prices more than offset continued seasonal weakness in the Choice cutout. The cutout declined to $373/cwt while fed cattle prices fell to $238/cwt, allowing packer spreads to recover for...
What You Need to Know Today: The conflict between the U.S. and Iran continues to escalate with the two sides exchanging attacks over the weekend. President Trump said Iran “will pay” for recent attacks that claimed the lives of U.S. troops stationed in Jordan. There are some signs...
