(Illustration by Nick Scalise)
Posted at 8:33 a.m. – March corn is up 4 1/2 cents a bushel, January soybeans are up 10 cents a bushel. In March, KC wheat rose 8 3/4 cents per bushel, in March, Chicago wheat rose 13 3/4 cents per bushel, and in March, Minneapolis wheat rose 11 cents. The Dow Jones Industrial Average rose 98.32 points to 37,188.56, the U.S. dollar index fell 0.620 points to 102.25 and crude oil rose $2.14 a barrel to $71.61 in January . The USDA announced a new sale of 400,000 metric tons (14.7 million tons) to undisclosed destinations for 2023-24. Grain and soy markets are rising at the same time as the US dollar index fell to a four-month low.
OMAHA (DTN) – February live cattle increased $0.98 to $168.2, January feeder cattle increased $1.43 to $218.8, February lean hogs increased 1.10 US dollar at $67,825, March corn up 4 1/2 cents per bushel and January soybean meal is steady. The Dow Jones Industrial Average rose 117.07 points. A slight price of $267 to $268 was reported in the north on Wednesday, which is $2 to $3 less than last week's weighted average in Nebraska. There were also some live deals reported at $165 to $167, which is $3 to $5 less than last week's weighted average in Nebraska. Even though the start to Thursday morning has been a bit slow so far, demand from packers is expected to improve as the day progresses. According to the export sales summary for the period December 1-7, 2023, net beef sales in 2023 were 10,600 tons, significantly higher than the previous week and 67% higher than the previous four-week average. There were increases primarily in South Korea (2,700 tons), Japan (2,300 tons) and Mexico (1,800 tons). Net sales for 2024 were 5,100 tons. During the same period, net pork sales in 2023 were 28,200 tonnes, up 9% from the previous week and 15% above the previous four-week average. There were increases primarily in Mexico (13,700 tons), Japan (3,100 tons) and Australia (2,100 tons). Net sales for 2024 were 12,900 tons. The forecast CME Lean Hog Index for December 12 rose $0.43 to $68.13.
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