Outside markets continued their downbeat on Friday but ag futures had a few recoveries from yesterday’s trouncing.
Corn closed lower for the day and the week. The soy complex closed optimistically for the day but had a mixed week. Winter wheat closed lower on the day and the week, but HRS was up on the day and week. Livestock had a better Friday than the results of the week as a whole.
The larger stories coming out of this first week of November included the following:
It was the sixth straight week lower for the hog market. It has now been four weeks lower for cattle. The soybean market has closed higher for three straight weeks. After three weeks of rising prices, the corn market had a loser.&n...
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...
