Posted at 10:44 a.m. – So far Friday morning there were no signs of trader unrest on the last trading day before Christmas. March corn is up 1 cent, March soybeans are up 7 cents. and March soybean meal is up $3.90. There is no indication yet as to when Texas' two rail lines to Mexico will reopen, but given the political pressure, it's fair to wonder whether the reopening isn't too far off. March KC wheat rose 1 3/4 cents and March Minneapolis wheat fell 1/4 cent. Crude oil rose $0.09 in February and Dow Jones futures rose 28 points, back into positive territory, after the Federal Reserve's favorite inflation gauge came in weaker than expected Friday morning. The US Dollar Index fell by 0.18 and February gold prices rose by $20.70.
Posted 8:37 a.m. – After opening at 8:30 a.m. Friday, crop prices are quietly mixed on the last trading day before Christmas. Corn rose 1/4 cent in March and soybeans rose 3 cents in March, both trying to find support at the end of a bearish week for crop prices. March KC wheat rose 3 3/4 cents and March Chicago wheat rose 3 cents despite rain falling over Missouri early Friday. In February, crude oil rose $0.69 and Dow Jones futures fell 54 points. The US Dollar Index fell by 0.34 and February gold prices rose by $27.50. The U.S. Commerce Department said the personal consumption expenditures index rose 2.6% in November, down from the previous month and less than expected. The yield on 10-year T-notes is 2 basis points lower at 3.87%.
Posted at 11:42 a.m. – February live cattle are up $0.53 to $169.2, March feeder cattle are up $1.78 to $225.15, February lean hogs are up $1.05 Up $71.7, March corn was up 1 cent per bushel and March soybean meal was up $2.90. The Dow Jones Industrial Average rose 39.58 points. In the South, light trading develops at $171, $1 more than last week's weighted average. Some isolated deals are also reported in the North at $271, $3 more than last week's weighted averages. Beef proportions are higher at midday (Selection 292.18 +1.05, Selection 262.90 +1.63) with light to moderate box movement (39 lds selected cuts, 06 lds selected cuts, 08 lds trim cuts and 07 lds ground cuts), with a choice/choice margin of 29.28. 120,000 cattle are expected to be slaughtered on Friday and 11,000 animals are expected to be slaughtered on Saturday. Lunch pork cuts are 81.67, +0.32, with a total load of 213.44. 441,000 pigs are expected to be slaughtered on Friday and 56,000 pigs are expected to be slaughtered on Saturday.
Posted 08:37 — February live cattle are stable, March feeder cattle are up $0.28 to $223.65, February lean hogs are up $0.63 to $71,275, March is Corn is up 3/4 cent per bushel and March soybean meal is down $0.40. The Dow Jones Industrial Average rose 26.95 points. In the cash cattle market so far this week, northern dressing deals have been quoted at $268 to $272, mostly $270, $2 above last week's weighted averages, and it looks that way , as if most of the business in this area could essentially be completed, but as the day progresses, some sales here and there are not out of the question. The South has moved very small quantities (just over 300 head) so they will have to trade cattle sometime on Friday. The forecast CME Lean Hog Index for December 20 rose $0.15 to $66.69.
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