[Weds] February hogs attempted to follow through on yesterday’s breakout rally but could not climb into positive territory and finished with a mild loss while December hogs remain stuck in a narrow range, according to The Hightower Report. Hogs were mixed but still held onto most of their recent gains, according to Virginia McGathey of the CME Group. The spread of African Swine Fever in Europe could provide a boost... / National Daily Hog and Pork Summary: Natl: $56.30, -$0.86; IA/MN: $56.80, -$0.66; WCB: $56.64, -$0.81; ECB: N/A; Cutout: $84.52, -$3.25 ...

 

In weighted average negotiated prices for barrows and gilts, USDA reported;

 

National carcass base down 86 cents to $56.30/cwt.

National live up $11.01 to $55.01.

Iowa-Minnesota carcass base at $56.80.

 

USDA reported carcass cutout values down $3.25 at $84.52.

 

February hogs attempted to follow through on yesterday’s breakout rally but could not climb into positive territory and finished with a mild loss while December hogs remain stuck in a narrow range, according to The Hightower Report.

 

Hogs were mixed but still held onto most of their recent gains, according to Virginia McGathey of the CME Group. The spread of African Swine Fever in Europe could provide a boost.

 

Cattle move higher on supportive news

 

Cattle were mostly higher and hogs were mixed today but there was some good news in both markets, according to Virginia McGathey of the CME Group.

 

December and February live cattle built on early support and finished with mild gains while December lean hogs finished down slightly, according to The Hightower Report.

 

Soybeans lead crops higher

 

Grain futures made a considerable rebound today with the soy complex leading the way higher thanks to spillover support from the global vegetable oil market, according to Karl Setzer of Agrivivor.

 

All three major grain markets were up for different reasons, according to Virginia McGathey of the CME Group.

 

Corn

 

The corn market appear to have been lifted by a revival of export demand and by inflationary interest in many physical commodities, according to ADM Investor Services.

 

Ethanol manufacturing for the week ending Nov. 12 was supportive for the market, according to Karl Setzer of Agrivisor. Production was 2 percent higher than the previous week and 10 percent higher from last year.

 

Soybeans

 

The soybean market was lifted aggressively by the announcement of a U.S. sale of soybeans to China, according to The Hightower Report. The 132,000 ton sale boosted prices.

 

Soybean crush is on the rise and is acting like a magnet, pulling up soybean prices, according to Virginia McGathey of the CME Group.

 

Wheat

 

Chicago wheat forged a new contract high and inflation-related buying helped boost wheat prices, according to ADM Investor Services.

 

The wheat complex continues to rise and Russia’s escalating export tax has helped, according to William Moore at Agmaster.

 

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