Posted 10:40 — Crop prices continue to trade higher Friday morning as bitterly cold temperatures continue to grip the central US. March corn is up 6 1/4 cents and March soybeans are up 14 cents. March KC wheat is up 5 3/4 cents and March Minneapolis wheat is up 7 3/4 cents. Crude oil in February is up $2.23 and ultra-low sulfur distillates are up 11 cents a gallon on the back of this week’s Arctic blast. Dow Jones futures are up 27 points, the US Dollar Index is down 0.15 and gold is up $14.80 in February. A Commerce Department inflation gauge showed a 5.5% year-on-year increase in consumer spending in November, compared to 6.1% in October.
Posted 8:37 AM – March Corn is up 4 1/4 cents a bushel, January Soybeans are up 9 cents, March KC Wheat is up 3 3/4 cents, March Chicago Wheat is up 6 3/4 cents and March Minneapolis wheat is up 3 3/4 cents. The Dow Jones Industrial Average is down 44.65 points and crude oil is up $2.32 a barrel in February. The US Dollar Index is down 0.040 and gold is up $5.70 an ounce in February. The USDA announced two new sales for 2022-23: 124,000 t (4.56 mb) soybeans to undisclosed destinations and 150,000 t (5.9 mb) corn to Mexico. The stock market fell slightly in November after a further drop in inflation, but durable goods orders fell 2.1% mom, a sign of a slowing economy.
Posted at 11:31 am — Live cattle are up $0.05 in February to $157.35, feed cattle are up $0.18 in March to $186.625, lean hogs are down $1.18 in February to $87.875 , Corn is up 6 1/2 cents a bushel in March and Soybean meal is up $4.40 in March. The Dow Jones Industrial Average is up 166.27 points. Bids from $156 to $158 are currently being offered in Nebraska, and bids from $155 are being offered in Colorado. More trades are likely to develop before the close of the week, but feedlots are not interested in trading cattle at constant prices. This afternoon will be eventful with a Cattle on Feed Report and a Quarterly Hogs and Pigs Report.
Posted at 8:38am – Live cattle in February are up $0.18 to $157.475, feed cattle in March are down $0.13 to $186.325, lean hogs in February are down $0.50 to 88.55 $ down, corn is up 3 3/4 cents a bushel in March and soybean meal is down $0.10 in March. The Dow Jones Industrial Average is down 80.86 points. The livestock complex got off to a rallying start on Friday morning but the lean hog and forage cattle markets are trading mixed. The main focus of the market today will be to see if more cash cattle trading develops and await reports from Cattle on Feed and Hogs and Pigs this afternoon.
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