Most eyes on today’s WASDE were looking at the crop side since this is the first report with field test data. That feedback, however, is important to cattle and hog producers looking forward as it will give insight into feed costs moving forward into 2024 as cattle supplies are extremely tight, and hog producers have been battling negative margins for most of the year. In the end, there was not much change. However, on the animal side, the rally in the fed cattle market is expected to rage on, while annual average hog prices for next year finally see some upward movement.
Since last month, hog prices are forecast to finish the year at an average that is $3/cwt lower than the August prediction, dropping fr...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
