- The Grain Express
Corn, soybeans, and wheat all closed last week lower on a continued buyers strike. Is a bottom anywhere in sight?
- Stock Indexes Set New All-time Highs
Grain markets are quiet as harvest progress weighs on a rally. The US stock market setting record highs 4 out of 5 days last week and is suggesting a new...
- A recap of Friday afternoons news wire (Ags)
There were a few bits of new news that came across the wire Friday afternoon that could affect this weeks trade.
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Live cattle futures are mixed on Monday, with nearby Oct down just 2.5 cents after gapping down on the open. Feeder cattle futures are 42.5 to 97.5 cents in the red. The CME feeder cattle index was 29 cents lower at $154.79 on October 19.There were 32 deliveries vs. October cattle futures over the weekend, with RJO clients the major players. Wholesale beef prices were mixed in Monday morning report. Choice was down 54 cents at $199.32, with select boxes 71 cents higher at $191.85. Weekly FI cattle slaughter was estimated at 632,000 head last week, about 10,000 larger than the previous week and 30,000 head above the same week last year. Cash trade ended last week at $111, steady with the previous week. Friday afternoon’s Cattle on Feed report showed on feed numbers 5.43% larger than last October 1 at 10.813 million head. That came from larger than expected placements at 2.15 million head, 13.46% above last September and September marketings at 2.94% greater than last year at 1.783 million head. Oct 17 Cattle are at $111.650, down $0.025, Dec 17 Cattle are at $116.750, up $0.150, Feb 18 Cattle are at $121.200, down $0.075, Oct 17 Feeder Cattle are at $153.200, down $0.425 Nov 17 Feeder Cattle are at $152.100, down $0.975 Jan 18 Feeder Cattle are at $150.500, down $0.825
Lean hog futures are trading 2.5 to 77.5 cents lower in the nearby contracts at midday. The CME Lean Hog Index for 10/19 jumped another 87 cents over the previous day at $64.21. The national base hog was down a penny at $64.45 in the Monday morning report. The USDA pork carcass cutout value was 19 cents lower in this morning’s report at $75.31. The butt, rib, and belly were all reported higher, with the picnic down $2.75. Estimated FI hog slaughter last week was 31,000 head fewer than the previous week at 2,485,000 head. That was 39,000 smaller than the same week in 2016. The USDA Cold Storage report for the end of September stocks will be released later this afternoon. Dec 17 Hogs are at $64.075, down $0.775, Feb 18 Hogs are at $68.875, down $0.225 Apr 18 Hogs are at $72.875, down $0.025