7/3/24
The Cattle Markets continued higher today. August’24 Live Cattle were 82 ½ cents higher today and settled at 185.92 ½. Today’s high was 186.10 and the 1-month high is 187.42 ½. Today’s low was 185.25 and the 1-month low is 175.80. Since 6/3 August’24 Live Cattle are $7.07 ½ higher or almost 4%. The Feeders led the way higher. August’24 Feeder Cattle were $2.27 ½ higher today and settled at 263.37 ½. Today’s high was 263.90 and that is the new 1-month high as well. Today’s low was 260.50 and the 1-month low is 250.80. Since 6/3 August’24 Feeder Cattle are $7.12 ½ higher or almost 3%. The Hogs did not do much today. August’24 Lean Hogs were 5 cents higher today and settled at 89.82 ½. Today’s high was 90.45 and the 1-month high is 95.55. Today’s low was 89.22 ½ and the 1-month low is 86.22 ½. Since 6/3 August’24 Lean Hogs are $5.80 lower or almost 3%. Beef exports in May were 258.93 million pounds, and that is a 4-year low. We will see where the Cattle Markets head next week. May pork exports were 584.7 million pounds. That is a drop of 5.4% from last year.
The Grain Markets were mixed today. November’24 Soybeans were 9 ½ cents higher today and settled at 1122 ½. Today’s high was 1126 ¼ and the 1-month high is 1172. Today’s low was 1110 ¾ and the 1-month low is 1097. Since 6/3 November’24 Soybeans are 43 cents lower or almost 4%. The Corn Market was a little lower today. December’24 Corn was 2 ¼ cents lower today and settled at 419 ½. Today’s high was 423 and the 1-month high is 478. Today’s low was 417 ½ and the 1-month low is 412. Since 6/3 December’24 Corn is 42 ½ lower cents lower or just over 9%. The Wheat Market was lower as well. September’24 Wheat was 7 ½ cents lower today and settled at 573 ½. Today’s high was 588 ½ and the 1-month high is 702. Today’s low was 572 ¾ and the 1-month low is 556 ¾. Since 6/3 September’24 Wheat is $1.18 ½ lower or more than 17%. Soybean exports in May were 1.41mmt, and that is down more than 20% from the month before. May Corn exports were 5.97mmt. Wheat exports in May were 1.58mmmt and that is a 3-year high. It looks like a sideways trade could occur in the Grain Markets for a few weeks. All markets will be closed until Friday morning. Have a great 4th of July.
–Bill
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