Posted at 8:33 a.m. – March corn is up 2 3/4 cents per bushel, January soybeans are down 1/4 cent per bushel. March KC wheat is up 13 cents per bushel, March Chicago wheat is up 16 1/4 cents per bushel and March Minneapolis wheat is up 8 cents. The Dow Jones Industrial Average rose 130.14 points to 36,254.70, the U.S. dollar index fell 0.160 to 103.89 and crude oil fell $1.65 a barrel to $70.67 in January. The USDA again announced new sales of US soft red winter wheat to China for 2023-24: 372,000 tonnes, or 13.7 tonnes to China, for a total of over 37 tonnes sold to China last week. They also announced 136,000 tons of soybeans, or 5 million tons, to China. Chicago March futures are once again popular in the news.
Posted at 11:49 a.m. – February live cattle are down $1.95 to $167,025, January feeder cattle are up $0.60 to $215.3, February lean hogs are up Up $0.13 to $69.475, March corn was down 6 1/2 cents a bushel and January soybean meal was down $7.80. The Dow Jones Industrial Average rose 2.74 points. Light food trading begins in all three major food states, with live deals in the South at $171, $3 below last week's weighted averages. Northern Clothing sales are $271, down $4 from the previous week's weighted average. Beef cuts are mixed at noon (selection 291.44 -2.31, selection 259.71 +0.58) with moderate to good box agitation (83 lds select cuts, 20 lds select cuts, 17 lds trim and 10 lds ground), with a Pick/Select Margin of 31.73. 126,000 cattle are expected to be slaughtered on Wednesday. Lunch pork cuts are 85.30, +0.63, with a total load of 209.22. 486,000 pigs are expected to be slaughtered on Wednesday.
Posted 08:40 – February live cattle are down $0.73 to $168.25, January feeder cattle are down $1.00 to $213.7, February lean hogs are down $0.08 to $69,425 rose, March corn was up 2 3/4 cents per bushel and January soybean meal was down $4.90. The Dow Jones Industrial Average rose 110.86 points. Initial asking prices for Cash Cattle were around $175 live and $275 dressed, but so far these have been completely rebuffed. With some isolated live trades from Mandatory in the South reported at $171 on Tuesday, they were $3 below last week's weighted averages. In parts of Nebraska, a few dressed deals were reported for $271, $4 less than the previous week's weighted average. Keep in mind that this deal was early and scattered and therefore doesn't necessarily set the trend for the week. The forecast CME Lean Hog Index for December 4 fell $0.24 to $69.60.
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