Markets have their ups and downs and today was the downside of up. After pretty much adding points for the last several days, today was a modest correction.
There were macro influences such as oil pressed lower and the dollar higher. Equities were mixed, with the Dow dragged lower by sinking IBM shares but continuing good earnings reports providing positive buoyancy to the rest of the indices.
There remain three overall bullish factors in this market. The first is demand, which is simply waiting for China to act on what are clearly perceived needs and relatively attractive U.S. cash prices. The second is weather, with drought conditions continuing in the U.S. northern Plains, Canada, Argentina and Russia. The third wild ca...
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...
