CME LIVESTOCK: Live Cattle: $144.50 (-0.60); Feeder Cattle: $183.375 (-1.225); Hogs: $100.025 (-1.05); Milk: $19.89 (-0.21)
US Cattle Report by National Beef Wire
CME GRAINS: Corn: $6.3975 (+10.50); Soybeans: $15.35 (+14.75); Wheat: 8.06 (-4.75); Cotton: $114.44 (+4.00)
National Corn Wire
LIVESTOCK, DAIRY & POULTRY OUTLOOK (WASDE): Beef production is raised for the second half with lower expected carcass weights and lower third-quarter slaughter more than offset by higher fourth-quarter slaughter
WASDE
DROUGHT MONITOR: Drought improves slightly... 65.59% of the contiguous U.S. in drought this week, compared to 66.48% last week and 56.22% last year
Weather
Short Range Weather: . Monsoon showers and thunderstorms may result in flash flooding and debris flows from the Four Corners region and Southwest into the Intermountain West through the weekend
Weather
STOCK UPDATE: Dow 30: 33,523.88 (+187.21); Nasdaq: 12,941.28 (+161.37); S&P 500: 4,244.42 (+37.15) (Stocks Higher On Consumer Sentiment Optimism)
Market Update
CATTLE MARKETS: Higher cash trade was the driving force, with Kansas trading as high as $140, a good $4-$5 better than a week ago. The cash index jumped triple digits to 178.06 on Thursday (Schwieterman)
US Cattle Report by National Beef Wire
CORN MARKETS: A lot of it will depend on today’s report and what USDA uses for a yield estimate. The average trade guess suggests we will see a yield cut today, so anything above 176 will probably be deemed bearish (Schwieterman)
NBW Market Commmentary
GRAIN TRENDS (Short Term/Long Term): CORN: Up/Down; WHEAT: Up/Down; SOYBEANS: Up/Up
National Corn Wire
CATTLE TRENDS (Short Term/Long Term): LIVE: Up/Up; FEEDERS: Up/Up
US Cattle Report by National Beef Wire
U.S. EXPORT SALES: Beef sales not great but up 22% from last week; Corn sales terrible
Market Update
NATURAL GAS: Henry Hub up 94 cents to $8.45, the highest daily price since a winter storm contributed to near record-high spot prices in February 2021
Cash Prices
MEATBOARD PM: Boxed Beef Choice: $263.10 (-0.13); Pork Carcass: $123.31 (-0.36); Chicken Breast: $224.95 (-0.22)
Cash Prices
CORN EXPORTS: Net sales of 151,600 MT for 2021/2022--a marketing-year low--were down 63 percent from the previous week and 73 percent from the prior 4-week average
National Corn Wire
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports