Posted at 8:37 am – December Corn is up 8 1/2 cents a bushel, November Soybeans are up 18 cents, September KC Wheat is up 10 cents, September Chicago Wheat is up 20 cents up and September Minneapolis wheat is up 10 cents. The Dow Jones Industrial Average is up 150.29 points and crude oil is up $0.35 a barrel in September. The US dollar index is down 0.670 and gold is up $10.30 an ounce in December. Grain and soybean markets have risen sharply in response to an attack on a key Russian grain export port. Ukraine’s drone strike damaged a naval vessel and the market is raising the premium on the potential disruption to more Black Sea exports. There are reports of fears that marine insurers may now be more reluctant to cover vessels as tensions appear to be rising.
Posted 8:35am – October live cattle are up $0.20 to $181.5, September feed cattle are down $0.35 to $251.3, October lean hogs are down $0.25 to 82 Up $.3, in December corn is up 9 cents a bushel and in December soybean meal is up $4.80. The Dow Jones Industrial Average is up 130.56 points. Cash Cattle Country remains very quiet on Friday morning and no bids have been renewed at this time. But the packer request should improve over the next few hours. The Actual Slaughter Under Federal Inspection report released yesterday reported a total slaughter of 625,915 head for the week ended July 22, 2023, down 37,475 head from the previous year. Slaughter weight was 893 pounds. the steers weight remained stable from the previous week, the heifers weight was 812 pounds. up to 4 pounds. from the week before.
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