Posted at 10:35 a.m. – By mid-morning Wednesday, crop prices are generally lower on low volume and there is no willingness to move in any direction this week between holidays. March corn is down 3 1/2 cents and March soybeans are down 7 cents. March KC wheat was down 11 1/2 cents and March Minneapolis wheat was down 9 cents. No new export sales were announced on Wednesday and the weekly report will be released on Friday morning. February crude oil prices fell $0.69 and Dow Jones futures rose 34 points. The US dollar index is down 0.62 and falls to a new six-month low, with lower interest rates expected in 2024. In February, gold rose $22.00.
Posted at 8:33 a.m. – March corn down 1/2 cent per bushel, March soybeans down 4 1/4 cents per bushel. In March, KC wheat fell 4 3/4 cents per bushel, in March, Chicago wheat fell 7 3/4 cents per bushel, and in March, Minneapolis wheat fell 3 cents. The Dow Jones Industrial Average fell 46.03 points to 37,499.30, the US dollar index fell 0.210 to 101.26 and crude oil fell $0.80 a barrel to $74.77 in February. Grain and soy markets are trading lower early Wednesday after closing strongly on Wednesday. Profit taking is likely due to slow trading as there is a lack of new news to drive the markets.
Posted at 11:37 a.m. (DTN) – February live cattle are down $1.28 to $169,125, March feeder cattle are up $0.83 to $225.4, February lean hogs are up $0.10 down to $69.2, March corn down 4 3/4 cents a bushel and soybean meal down $2.60. The Dow Jones Industrial Average rose 78.83 points. As for Cash Cattle News, there are currently some bids on the table in parts of Nebraska for $270, but so far those bids have been accepted. Offer prices remain very difficult to achieve as many manufacturers try to sustain higher prices. Beef cuts are mixed at noon (selection 291.59 -1.72, selection 261.32 +0.13) with light to moderate box agitation (36 lds select cuts, 12 lds select cuts, 00 lds trim and 11 lds ground), with a Pick/Select Margin of 30.27. 125,000 cattle are expected to be slaughtered on Wednesday. Lunch pork cuts are 83.17, +1.05, with a total load of 159.42. 485,000 pigs are expected to be slaughtered on Wednesday.
Posted 08:34 — February live cattle are up $0.20 to $170.6, March feeder cattle are up $1.08 to $225.65, February lean hogs are up $0.58 to 68,725 $ decreased, March corn was down 1/2 cent per bushel and March soybean meal was down $1.20. The Dow Jones Industrial Average is down 54.79 points. A very quiet start in the cash cattle area as many feedlots finally finish cleaning up after the winter storms on Christmas Day. Significant trading volume is likely to be delayed until sometime on Thursday and/or Friday. The forecast CME Lean Hog Index for December 22 fell $0.66 to $65.59.
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