What You Need to Know Today:
Non-farm payrolls rose by 172,000 jobs in May, above economist expectations of 80,000 jobs. With the job market strong, the Fed may consider raising interest rates to tame inflation. The strong jobs report was a catalyst for lower risk appetite across financial and commodity markets. Live cattle and feeder cattle ended the day essentially flat after yesterday’s limit move in feeder cattle. There were no reports of additional cases in the U.S. outside of the one that already made headlines. Weather remains favorable for key corn and soybean growing areas with rains in the forecast. Temperatures are towards the warmer side, but not hot enough to cause any major stress to the crop.
Outside Markets: Bond yie...
What You Need to Know Today: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
