[Thurs] Weak export sales to China helped to pressure the market and much higher than normal weight data is also seen as a bearish force, according to The Hightower Report. Cash has not been supportive to futures and finding hogs has not been difficult for packers, according to Total Farm Marketing... / National Daily Hog and Pork Summary: Natl: $55.10, -$1.20; IA/MN: $55.84, -$0.96; WCB: $55.91, -$0.73; ECB: N/A; Cutout: $89.69, +$5.17 ...

 

Farm Commodity Newsletter/Iowa Farmer Today

Thu 11/18/2021 4:29 PM

 

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

 

National carcass base down $1.20 to $55.10/cwt.

National live price not reported due to confidentiality.

Iowa-Minnesota carcass base at $55.84.

 

USDA reported carcass cutout values up $5.17 at $89.69.

 

Weak export sales to China helped to pressure the market and much higher than normal weight data is also seen as a bearish force, according to The Hightower Report.

 

Cash has not been supportive to futures and finding hogs has not been difficult for packers, according to Total Farm Marketing.

 

December hogs fall as chinese hog imports are down

 

February live cattle and January feeder cattle were both up today while February lean hogs were up as well, though December hogs were sharply down, according to The Hightower Report.

 

Chinese imports of hogs from the United States in October were down 41 percent from last year, according to Terry Roggensack of the CME Group.

 

Crop markets slide Thursday

 

The grain and oilseed complex opened stronger but by mid-morning it had faded on lackluster export sales and profit-taking, according to CHS Hedging.

 

Managed money flow is driving the market right now and that will likely mean more volatility, according to Karl Setzer of Agrivisor. There were solid export numbers, which was supportive, but no flash sales were reported and that was disappointing.

 

Corn

 

Corn futures rallied early in the session but faded on talk EPA could announce biofuel madates this week, according to ADM Investor Services.

 

Corn demand has been mixed in recent weeks with the United States seeing demand from Mexico and the hope there would be more Canadian business in the near future, according to Karl Setzer of Agrivisor.

 

Soybeans

 

The soybean market opened higher but faded throughout the day after the soybean meal and oil futures lost steam, according to CHS Hedging.

 

It was an inside trading day and while outside marke forces were positive beans still closed lower, according to The Hightower Report.

 

Wheat

 

Wheat was lower in all three classes after seeing new contract highs today in Chicago and Kansas City before profit-taking developed, according to CHS Hedging.

 

Wheat futures have been trending higher on lower Canada and U.S. spring wheat supplies, record low world stocks to use ratios and higher Russian prices, but there was some talk Canadian shipments could be slowed by the washout of rail service to Vancouver, according to ADM Investor Services.

 

iowafarmertoday.com