CME GRAINS: Corn: $7.815 (-19.25); Soybeans: $16.6275 (-15.25); Wheat: $12.3075 (-46.75); Cotton: $144.47 (-3.99) (The U.N. is reportedly trying to facilitate talks with Russia, Ukraine, Turkey, the EU and US on restoring grain exports out of Ukraine)
National Corn Wire
Leaking... Premium continues to get sucked out of the deferred contracts, which in turn pressures feeder cattle futures. Only December LC has yet to take out its 2022 lows, a pattern started with the April LC contract (The Beef)
NBW Market Commmentary
CME LIVESTOCK: Live Cattle: $131.70 (-1.775); Feeder Cattle: $165.80 (-0.975) Hogs: $108.525 (+0.775); Milk: $24.57 (-0.02) (Surveys ahead of Friday’s USDA Cattle on Feed report anticipate smaller April placements and marketings than a year ago)
US Cattle Report by National Beef Wire
U.S. CATTLE REPORT: Cash trade down $2; Wheat up $2.32 since May 3rd; Feeders down nearly $10 since May 3rd; Chicken prices finally drop; 75 steers (712#) from Kimball, SD bring $168
US Cattle Report by National Beef Wire
CATTLE MARKETS: The southern cash was mostly two lower than a week ago, with most of the trade $138 (Schwieterman)
US Cattle Report by National Beef Wire
CORN MARKETS: There isn’t much fresh corn specific news out there, so looking at yesterday’s inside day on the July chart, it would seem that we are still on track for a run to the contract highs and possibly the all time highs in the corn (Schwieterman)
NBW Market Commmentary
CATTLE TRENDS (Short Term/Long Term): LIVE: Down/Down; FEEDERS: Down/Down
US Cattle Report by National Beef Wire
STOCK UPDATE: Dow 30: 32,240.44 (-414.15); Nasdaq: 11,765.94 (-218.58); S&P 500: 4,026.46 (-62.39) (Stocks Stumble As Target’s Plunge Weighs On Retailer Stocks)
Market Update
LIVESTOCK MARKETS: Cash cattle trade working lower; Pork cutouts softens; Meat alternatives see major losses; Beef production to decline in early 2023; US beef exports +2.9% on the year (AgriVisor)
NBW Market Commmentary
GRAIN MARKETS: Corn planting progress at 49% , emergence is 14%; World ethanol demand rising; Ukraine port closures hurting country’s economy; US dollar continues to rally (AgriVisor)
National Corn Wire
BEFORE THE BELL: U.S. stock index futures were higher, led by a global rally on optimism about an easing of China's crackdowns on tech and COVID-19, but concerns about rising prices worldwide set a nervy tone in markets as investors wait for more signals from policymakers (Reuters)
Market Update
Walmart cut its full-year profit forecast, signaling a bigger knock to the retail giant's profit margins from surging costs of everything from fuel to labor (Reuters)
Market Update
op baby formula makers Reckitt Benckiser and Nestle have ramped up supplies to the United States to resolve a shortage that has emptied shelves and caused panic among parents (Reuters)
Market Update
LIVESTOCK COMMENTS: There is a tremendous quantity of cattle on feed, which may be the reason cattle prices are softening and failing to push higher during a time when cattle prices seasonally strengthen
NBW Market Commmentary
NATIONAL STEER TRACKER: The largest steer string (700-899#) sold last week was 204 steers (846#) from El Reno, Oklahoma at $150.00. The average price for the top 10 steer strings sold was $157.26, compared to $156.66 the previous week
Cattle Prices
Surprising Cut to Corn Yields and North Dakota's Planting Nightmare Show Crop Supplies are Shrinking (AgWeb)
AgWeb