If you like volatility, the cattle markets are the place. The markets initially treated yesterday’s limit gains with contempt, heading lower in early trade before late-afternoon support entered and pulled the markets back toward the top of the daily trading range. Similarly, hog futures celebrated yesterday’s trade agreement news and futures rally by tanking today. The grains complex was relatively well-behaved, with the CBOT showing steady red all day. Wall Street is slightly higher as the U.S. and Mexico are continuing to make progress on their trade agreement while the U.S. dollar and crude oil are lower.
Corn December corn lost 5 ¼ cents after an early rally fizzled and left the market to put in a low...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
