Every day the Market Day Report delivers “live” coverage of agri-business news, weather, and commodity market information from across the world. Scott contributes information on the complete agriculture spectrum with a focus on the option markets. View today’s video
Livestock Report
June Lean Hogs grinded higher today, besting resistance at 90.45 and then the May 7th high (91.35) was taken out on its way to 92.00 the session high. It settled at 91.825 below resistance at 92.375. It is the highest close since May 3rd as it closed the gap from the low (91.975) on that day to the May 7th …
Undercurrent of Weather
Let’s just say that the producer will be more than happy if nearby corn returns to $4, nearby wheat in Chicago and Kansas City to $5 and nearby beans to $9. We’ve taken off the bearish edge with this week’s short covering rally as funds got a little too cocky and pressed everything below the cost of production well …
Livestock Report
June Lean Hogs held support and a strong recovery led to a rally to 90.175, just below resistance at 90.45. It is now in the upper section of May 7th trading range which is where Hogs have been trading in for the past 5 sessions. The range is 91.35 high to 85.375 low. If price can take out the 90.45 …
Lots to Consider
We are approaching parity in the central Heartland with wheat/corn. Remember 60 pounds of wheat per bushels and only 56 pounds of corn. Grain consuming units like turkeys and chickens respond better to wheat than cattle and hogs but if wheat starts having some quality issues and gets discounted then it’s always easier to work it into most rations …
Today’s Market Day Report
Every day the Market Day Report delivers “live” coverage of agri-business news, weather, and commodity market information from across the world. Scott contributes information on the complete agriculture spectrum with a focus on the option markets. View today’s video
Grain Spreads: Plantings
Planting numbers for corn came in this afternoon at just 30 percent planted vs 59 last year and 66 percent the five year average. Will the delay mean higher prices or just more noise and a rally to sell?. The last three crop reports from the USDA have been nothing but bearish for corn as ending stocks have been raised …
Livestock Report
June Lean Hogs traded down limit as China retaliates with new tariffs on US goods. Limits will expand for trade on Tuesday to 4.5 handles. Hogs settled at 86.675. Support comes in at 85.375 and then 83.325. The 50 DMA is at 86.97. A recovery could lead to a test of resistance at 88.325 and then 90.45.The market remains vulnerable …
So Begins a Growing Season
China is not self sufficient in the food sector! It needs to get a heck of a lot more efficient with grain/meat production or resolve to having its population on a permanent diet. The recent collapse in grain prices has been influenced by the threat and reality of a trade war yet Brazilian corn production at 100 mmt this …
Livestock Report
June Lean Hogs continued it trading within Tuesday’s trading range. Trading above the 90.45 resistance level could see price test resistance at 92.375. A break down below the 88.375 support level could see price approach the Monday low at 85.375. The tariff increases are here but it will take some time to effect trade. Cash prices should firm on …