I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle and Feeder Cattle futures traded mildly high on Wednesday. Even though markets were closed yesterday, the nation Boxed Beef price jumped again by almost $500, indicating strong retail demand. Cattle on Feed report due today after the close. Total on feed est. to be 99%, placements at 94% and marketing near 90%. I think those would be bullish numbers, should they actually post like that. Corn and Soybeans are a bit firmer this morning on hot weather forecasts for the next several days. New crop is leading the way there. Wheat made huge gains on Wednesday, trading back a little lower this morning. Export Sales report this morning wasn’t hugely bearish or bullish, I think. A flash sale of 124,000MT of Corn was announced for new crop Corn a few minutes ago.