[Tues]: … 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… Chinese authorities claim that even with ongoing cases of African swine fever, the country’s hog herd is building, according to Karl Setzer of Agrivisor…  / National Daily Hog and Pork Summary: Natl: $109.84 +$3.60; IA/MN: $111.92; WCB: $110.92; ECB: $107.69; Cutout: $120.34, -$1.51…

 

Farm Commodity Newsletter/Iowa Farmer Today

7/20/2021 4:47 PM

 

National carcass base up $3.60 at $109.84/cwt.

National live up 10 cents at $81.03.

Iowa-Minnesota carcass base was $111.92.

 

USDA reported carcass cutout values this afternoon down $1.51 at $120.34.

 

August hogs closed higher on the session with a quiet inside trading day, and October hogs closed sharply higher, according to The Hightower Report.

 

Chinese authorities claim that even with ongoing cases of African swine fever, the country’s hog herd is building, according to Karl Setzer of Agrivisor.

 

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.

 

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.

 

Corn

 

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

 

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

 

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.

 

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