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...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
