Posted at 10:32 a.m. – December corn is up 8 3/4 cents per bushel, January soybeans are up 16 1/4 cents, December KC wheat is up 2 1/4 cents, December Chicago Wheat rose 7 cents and December Minneapolis wheat rose 3 1/4 cents. The Dow Jones Industrial Average rose 178.69 points and crude oil fell $0.56 a barrel in December. The US Dollar Index is down 0.980 and gold is up $8.00 an ounce in December. Soybean oil has reversed its initial gains and is moving in line with the falling crude oil market. Soybeans, soybean meal and corn are all up sharply as wheat markets aim for a three-day winning streak. The sharp fall in the US dollar index, which has just hit a new low, is supporting US agricultural exports.
Posted 08:37 – December corn is down 1/4 cent, January soybeans are up 17 cents, KC December wheat is down 1/4 cent, December Chicago wheat is up 3/4 cent and Minneapolis wheat in December is down 1 3/4 cents. The Dow Jones Industrial Average rose 181.51 points and crude oil fell $0.96 a barrel in December. The US Dollar Index is down 0.860 and gold is up $5.30 an ounce in December. The USDA reported new sales of 131,150 metric tons (4.8 million metric tons) of soybeans sold to unknown destinations for 2023-24. Corn and Minneapolis wheat are lower to start, while soybeans and soy products are higher early Friday. There is little new news, but the harvest is likely to move forward with mostly clear radar. Fewer jobs are driving up stock prices while the U.S. dollar is under pressure.
Posted at 11:49 a.m. — December live cattle are down $0.05 to $184,625, January feeder cattle are down $1.50 to $240,675, December lean pork is down $1.48 to 71.8 $ down, corn up 8 1/4 cents per bushel in December and soybean meal up $11.70 in December. The Dow Jones Industrial Average rose 266.64 points. Light northern trading is reported at $292, up $2 from last week’s weighted average. A regional paid 292.75 for a line of steers in eastern Nebraska. The south remains very quiet at this time. Beef proportions are lower at lunchtime (Selection 302.67 -1.86, Selection 272.54 -1.80) with moderate crate movement (51 loads of choice cuts, 15 loads of select cuts, 34 loads of trim and 10 loads of ground), with a Select/Select the spread from 13/30. 116,000 cattle were slaughtered on Friday and 14,000 head were slaughtered on Saturday. The lunch pork cuts are 86.75, -0.66, with a total load of 186.07. 481,000 pigs are expected to be slaughtered on Friday and 251,000 pigs will be slaughtered on Saturday.
Posted 08:40 – December live cattle are down $0.03 to $184.65, January feeder cattle are down $0.58 to $241.6, December lean hogs are down $0.03 to 73.3 $ increased, corn was up 1/4 cent per bushel in December and soybean meal was up $3.60 in December. The Dow Jones Industrial Average rose 178.84 points. In cash cattle country, a regional district in eastern Nebraska has renewed bids of $292, but so far that is the only renewed bid on the table as of Friday morning. Asking prices are around $188 in the south and $294 in the north. The Packer request needs to be improved at some point today.
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