Live cattle futures remain under pressure in overnight trading as long liquidation continues amid weaker cash prices in spite of continued strength in beef markets.\r\n Cash cattle in the Plains this week traded in a range from mostly $148 to $150 per cwt on a live basis and at $237 to $240 dressed in … Read More
World Remains Focused On Ukraine
The world remains focused on events in and around Ukraine this morning, but it is apparent that conditions there are less worrisome to investors than they were on Monday. \r\n European and US stock prices have already regained Monday’s losses and appear this morning to be headed higher. Commodity funds Tuesday took agricultural futures … Read More
World Markets Calmer After Russian Stepdown
The world is a little less tense this morning after Russian President Vladimir Putin ordered tens of thousands of Russian troops to return to their bases after participating in military exercises near Ukraine’s border.\r\n The move lessens the threat of an immediate full-scale Russian invasion of Ukraine, although Putin, in talks with reporters this … Read More
Beef Cutout Up Sharply; Still Below January Redord
The USDA’s beef cutout value rose sharply last week, but while the gains were impressive, the values themselves fell short of record highs set in January.\r\n Choice boxed-beef values Friday were quoted at $225.33 per cwt on a live basis, up $3.92 on the day and up $11.58 for the week. The weekly average … Read More
Forecasters See Mid-March Relief From Arctic Blast
The wave of arctic air surging across the lower 48 states will continue into mid-March before a slow warming trend emerges, according to meteorologists. Average March temperatures threaten to be below average.\r\n More rain, ice and snow is predicted over the next couple of weeks in the central and eastern Midwest and the beleaguered … Read More
Grains Lower Amid Month-End Book Squaring
Grain futures this morning are lower and soybeans are up, amid month-end position squaring and profit taking by investment funds. Since these commodities have done well this month, such a move would seem logical as the funds seek to pay off investors.\r\n Through Wednesday, March corn has climbed 21 ½ cents to settle at … Read More
Profit Taking, Macro Concerns Take Grains, Soybeans Lower
Grain and soybean futures are lower in overnight trading as traders take profits on long positions and macro-economic concerns about the viability of US exports over the next few months sharpen.\r\n However, live cattle and lean hog futures are up amid tightening supplies and steady consumer demand.\r\n Margin liquidation also is a dominant … Read More