(Illustration by Nick Scalise)
Posted at 10:34 a.m. – March corn down 1 1/2 cents per bushel, March soybeans down 12 1/4 cents per bushel. March KC wheat is down 5 1/4 cents per bushel, March Chicago wheat is down 7 3/4 cents per bushel and March Minneapolis wheat is down 5 3/4 cents. The Dow Jones Industrial Average fell 106.75 points to 37,603.35, the US dollar index fell 0.000 points to 101.23 and crude oil rose $0.49 a barrel to $72.26 in February . Grain and soy markets are equally declining at the end of 2023 trading, with soybeans, soymeal and Chicago wheat leading losses. Spot corn futures remain nearly flat but slightly lower, with March less than a penny from the contract low on a no-news day.
Posted at 8:33 a.m. – March corn down 1 3/4 cents per bushel, March soybeans down 4 3/4 cents per bushel. In March, KC wheat was up 1 1/2 cents per bushel, in March, Chicago wheat was down 2 1/4 cents per bushel, and in March, Minneapolis wheat was up 1 3/4 cents. The Dow Jones Industrial Average rose 15.18 points to 37,725.28, the U.S. dollar index rose 0.120 to 101.35 and crude oil rose $0.66 a barrel to $72.43 in February. Corn, soybeans, meal and Chicago wheat are under early selling pressure, while the two durum wheat futures markets are higher in thin year-end 2023 trading. The weather in Brazil seems to be more pessimistic next week.
OMAHA (DTN) – February live cattle are down $0.03 at $168.9, March feeder cattle are up $0.53 at $223.65, February lean hogs are up Down $0.15 to $68.3, March corn down 2 1/4 cents per bushel and March soybean meal down $4.50. The Dow Jones Industrial Average is down 146.89 points. After Thursday's light business, everything remains quiet in Cash Cather Land. Beef cuts are mixed at lunchtime (selection 288.87 -2.41, selection 260.44 +1.20) with light to moderate box agitation (33 lds selected cuts, 05 lds selected cuts, 04 lds trim and 08 lds ground), with a Pick/Select Margin of 28.43. 123,000 cattle are expected to be slaughtered on Friday and 80,000 head will be slaughtered on Saturday. Lunch pork cuts are 85.54, +2.93, with a total load of 189.89. 484,000 pigs are expected to be slaughtered on Friday and 311,000 pigs will be slaughtered on Saturday.
Posted 08:37 — February live cattle increased $1.05 to $169,975, March feeder cattle increased $0.75 to $223,875, February lean hogs increased $0.53 to $68,975, in March corn is down 3/4 cent per bushel and March soybean meal is down $2.10. The Dow Jones Industrial Average rose 45.18 points. Light cash cattle trading took place yesterday, with southern live deals mostly at $172, $1 higher than last week's weighted averages, while northern dressing deals were mostly at was $272, $1 higher than last week's weighted average in Nebraska. According to the U.S. export sales summary for the week ended December 21, 2023, 2023 net sales of beef were 2,100 tons, down 78% from the previous week and 68% below the previous four-week average. The three largest buyers were Japan (1,500 million t), South Korea (400 million t) and Mexico (200 million t). Net sales of 23,800 tons of pork in 2023 were 23% below the previous week and 10% below the previous four-week average. The three largest buyers were Mexico (13,300 mt), Japan (6,500 mt) and Australia (3,000 mt). The forecast CME Lean Hog Index for December 27 fell $0.15 to $65.57.
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