CALIFORNIA: Fresno has recorded the hottest month of July ever since temperature records began in 1887 (NWS)
Weather
CME LIVESTOCK: Live Cattle: $128.65 (+1.375); Feeder Cattle: $163.175 (+1.20) Hogs: $108.35 (+0.85); Milk: $15.97 (-0.18)
US Cattle Report by National Beef Wire
CME GRAINS: Corn: $5.495 (-9.25); Soybeans: $13.87 (-31.75); Wheat: $7.2475 (-4.75)
National Corn Wire
STOCK UPDATE: Dow 30: 35,015.05 (+176.89); Nasdaq: 14,723.94 (+42.87); S&P 500: 4,409.73 (+22.57)
Market Update
Short Range Weather Forecast: Monsoonal storms will continue to generate flash and urban flooding impacts into mid-week from the Intermountain West to the High Plains along the Rocky Mountain Front (View Report)
Weather
SCHWIETERMAN CATTLE: Packer margins continue to strengthen, as traders continue to await that inevitable jump in cash prices (VIEW REPORT)
US Cattle Report by National Beef Wire
SCHWIETERMAN FEEDER CATTLE: The cash index scored new highs for the year on Monday, moving up to 155.58. Basis levels with the August contract have fallen to 2.75, with most of the narrowing due to cash strength (VIEW REPORT)
US Cattle Report by National Beef Wire
SCHWIETERMAN CORN: Yesterday the December corn posted an outside day higher on the chart and closed above the 50-day moving average. The next chart hurdles are at the $5.61 and $5.73 levels (VIEW REPORT)
NBW Market Commmentary
SCHWIETERMAN WHEAT: Wheat was the leader yesterday, with the December KW closing above $7.00 and at the highest level since May 12th
Wheat
SCHWIETERMAN SOYBEANS: Surprisingly, soybean condition ratings improved by 2 points to 60% Good to Excellent, which is still below average, but put quite a bit of pressure on the market
Soybeans
Senator Lindsey Graham tested positive for the virus, underscoring the risk from the delta variant even for the vaccinated and vexing Majority Leader Chuck Schumer’s plan to pass a $550 billion infrastructure bill this week (Bloomberg)
National News
Deferred contracts still hold the premium in the market on optimism of tighter cattle supplies and a more active cash market into 2022. Technically, cattle markets are testing support levels, but held to start the week (TFM)
NBW Market Commmentary
LIVESTOCK: Boxed beef continues to rebound; Packers focused on Labor Day demand; Pork starting to follow beef (AgriVisorL)
NBW Market Commmentary