- USDA Raises Stocks in Corn Wheat and Soybeans
Grain Markets are enjoying a bit of short covering after a negative report last Friday and larger than expected short positions by managed money funds....
- Cattle futures find technical support
Cattle futures finished the back half of the week with some momentum, can that continue into this weeks trade?
- Redux: Bubble of Historic Proportions
Keep probing short side of the debt markets.
- What does the USDA report mean for grain prices?
Fridays USDA report was a dud for corn, but wheat and beans look set for a bigger move.
- A Guide For The Journey
low risk, high in probabilty opportunity
- Paragon Investments' Futures File: NAFTA, USDA & Metals in Turmoil
Our weekly column looks at the most recent USDA report, along with developments with NAFTA and gold.
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Lean hog futures were mixed on Friday, with most front months 12.5 to 60 cents higher and a few deferred contracts lower. The CME Lean Hog Index was up $1.18 on January 10 at $68.46. The USDA pork carcass cutout value was up 77 cents at $79.81 in the Friday afternoon report. The national base hog weighted average price was down 45 cents to $69.45. The USDA week to date FI hog slaughter is estimated at 2,450,000 head through Saturday. Pork production for 2017 was totaled at 25.585 billion pounds in this morning’s USDA supply and demand table. That was moved by a 25 million pound increase in the fourth quarter. Production for 2018 is projected at 26.960 billion pounds, up 45 million pounds from the previous report.
Live cattle futures closed 25 to 92.5 higher on Friday. Feeder cattle futures were a dime to $1.275 higher. The CME feeder cattle index on January 11 was $146.80, down $2.01 from the previous day. Wholesale boxed beef values were lower on Friday afternoon. Choice boxes averaged 84 cents lower at $208.23, with Select boxes $1.31 per cwt at $201.64. Estimated weekly FI cattle slaughter is 611,000 head through Saturday. That is 2,000 head more than the same week last year. Quarterly beef production was given a 130 million pound downward adjustment for the fourth quarter of 2017 to 6.74 billion pounds. Total production for 2017 was shown at 26.175 billion pounds, with USDA estimating 2018 up 170 million at 27.760 billion pounds.