[Tues]: … In negotiated cash sales in Nebraska, the USDA reported 1,300 head sold dressed at $199.95. In Iowa/Minnesota, 44 head were sold dressed at $195… With corn up strong today, futures are being pressured and boxed beef prices refuse to show any signs of stability, according to Total Farm Marketing… Choice down 1.61… Select down 91 cents…
Afternoon National Slaughter Cattle Review: Thus far for Tuesday in the Southern Plains negotiated cash trading has been at a standstill. In Nebraska negotiated cash trading was limited with very light demand. In the Western Cornbelt negotiated cash trading has been mostly inactive with very light demand. Not enough purchases in any region for a market trend. Last week in the Southern Plains live purchases traded at 120.00. In Nebraska for the prior week live and dressed purchases traded from 123.00-125.00 and from 196.00-202.00, respectively. In the Western Cornbelt for the previous week live and dressed purchases traded at 125.00 and from 196.00-197.00, respectively…
Farm Commodity Newsletter/Iowa Farmer Today
7/20/2021 4:47 PM
Choice down 1.61 to $264.88.
Select down 91 cents to $248.58.
In negotiated cash sales in Nebraska, the USDA reported 1,300 head sold dressed at $199.95. In Iowa/Minnesota, 44 head were sold dressed at $195.
August live cattle and August feeder cattle both closed down as the early bounce failed to find any new buying interest, according to The Hightower Report.
With corn up strong today, futures are being pressured and boxed beef prices refuse to show any signs of stability, according to Total Farm Marketing.
Livestock markets mixed
Cattle were mostly down while hogs were up in today’s trading, according to The Hightower Report.
Packers may need to be more aggressive to meet pork demand, and China pulling back from importing pork may back up supply into the domestic market, according to Total Farm Marketing.
7/20/2021 8:17 AM
Cash cattle 'firm,' pork values 'positive'
Beef markets “continue to weaken” Karl Setzer of Agrivisor said, as cash cattle bottomed in July last year. He said the long-term cattle outlook “remains firm” as cattle slaughter is on the rise.
With the lean-hog market holding a “stiff discount to the cash market,” cutout values are advancing and a “short-term positive force,” The Hightower Report said. “Once pork values begin to subside, the market could be in a position to see a resumption of the downtrend.”
7/20/2021 4:47 PM
Renewed buying interest lifts grains
Trade was solidly higher today as renewed buying interest surfaced in each of the grain complexes, according to Karl Setzer of Agrivisor.
Soybeans traded higher in a wide range, and corn and wheat futures were also higher on the day, according to ADM Investor Services.
The corn market was stronger throughout the day and finished a few cents off the highs amid concerns about dry conditions and above-normal temperatures, according to CHS Hedging.
The Brazilian corn estimate of 93 million metric tons is generally considered to be too high by many traders, and there are thoughts in the market that the size of that crop may continue to shrink, according to Karl Setzer of Agrivisor.
Soybeans were stronger throughout the day but finished roughly 15 cents off the highs, according to CHS Hedging.
November beans closed moderately higher, and the weather forecast could lead to more upward pressure, according to The Hightower Report.
Wheat finished mixed after trading higher for most of the session, according to CHS Hedging.
September wheat finished higher on the session but down from the early peak, according to The Hightower Report.