Commentary
- Fats Leading the Bull Charge on Friday
- Live cattle futures are up another 75 cents to $2 so far on Friday. Cash trade saw action increase to $230-232 sales in the South. North action has been $240-242. Feeder cattle futures are mixed, with August up 7 cent and other nearbys down 22 to 35 cents. The CME...
- Hogs Rallying with Cash and Cutout Strength
- Lean hog futures are rallying on Friday, with contracts up $1.25 to $2.07 at midday. USDA’s national average base hog negotiated price was reported at $100.55 on Friday morning, up 93 cents. The CME Lean Hog Index was up 82 cents on June 3, at $96.57. USDA’s FOB plant pork...
- Soybeans Showing Higher Midday Trade
- Soybeans are recovering from overnight weakness on Friday, with midday strength of 2 to 7 cents. The cmdtyView Cash Bean price was up 7 cents to $10.14. Soymeal futures are down $1.20/ton higher, as Soy Oil are up 81 points. Export Sales data indicated a total of 48.65 MMT of...
- Corn Busy Unwinding on Friday’s Midday
- Corn futures are seeing some unwinding from the recent bear spreading as midday, with contracts fractionally to 5 cents higher. The front month CmdtyView national average Cash Corn price is up 4 3/4 at $4.20. Forecasts are running on the drier side for much of the Central Corn Belt in...
- Wheat Gains Extending to Friday’s Midday
- The wheat complex is posting gains across the three markets on Friday. Chicago SRW futures are 7 to 8 cents in the green at Friday’s midday. Kansas City HRW contracts are popping 4 to 5 cents higher at midday. Minneapolis spring wheat futures are up 4 to 6 cents at...
- Cotton Popping Higher at Midday
- Cotton futures are posting 30 to 46 points across most contracts at midday. Crude oil prices are up $1.37/barrel, closing in on $65, with the US dollar index back up $0.466 at midday to $99.170. USDA’s Export Sales data now has upland cotton sales at 11.525 million RB as of...
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