Cattle futures prices may be going up, but a similar reaction from cash prices may not be a good thing.
Another choppy, volatile week in grain markets is expected with input from the two big Ws — weather and WASDE.
Volatility is expected to rise over the next several weeks as uncertainty mounts around grain markets.
The latest USDA Cattle on Feed report was largely neutral for cattle markets, and it pointed to the expected smaller numbers ahead. Colorado State University ag economist Stephen Koontz wrote in his “In the Cattle Markets” column that placements did come in lower than expected.
March pork exports were the largest in almost two years, according to data from the USDA and an analysis from the U.S. Meat Export Federation.
A warm, dry weather forecast can be good for crops at this time of year, particularly for farmers who need to replant. However, good conditions can often pressure market prices.
Markets will continue to watch what is happening in the Black Sea corridor as there has still been no word on whether Russia will agree to extend the grain passage deal that expires this Thursday, May 18.
The feedlot returns calculated by the Livestock Marketing Information Center have climbed higher as live cattle prices have hit records.
Storms across the Midwest brought rain for newly planted crops, but the market hasn’t reacted quite yet to the positive crop conditions overall.
Low prices for wheat and soybeans from international competition will continue to pressure U.S. prices.
Strong beef demand and a smaller beef supply continue to support cattle markets. University of Tennessee livestock marketing specialist Andrew Griffith says any weakness in markets will likely come from the broader economy.
The prices for live cattle futures contracts continue to rise as records are broken.
U.S. planting got off to a quick start, according to the USDA planting progress reports, but may be slowing down after storms and possible flooding along the Mississippi and Missouri rivers have kept some farmers out of the field.
Live cattle prices have outpaced expectations so far this spring, University of Tennessee ag economist Andrew Griffith says.
The cooler, wetter weather in the Midwest this past week was supportive to corn and soybean prices, said Jack Scoville of Price Futures Group.
Pork exports continued to be strong in February, according to data released by the USDA and compiled by the U.S. Meat Export Federation. Beef exports were lower year-over-year but improved from the low totals posted in January.
Early April rains and a string of warm weather has planting season firmly in the minds for many Midwest farmers. As they look at markets for the upcoming crop, acreage expectations are likely to limit corn’s price movement, but soybeans may find room to be bullish.
The latest USDA hogs and pigs inventory report, released March 30, showed hog numbers up from a year ago but lower than the previous quarterly report.
Rising oil prices are making a big splash for the grain markets this week.
Sow slaughter into mid-March is narrowly higher than it was a year ago, according to data from the USDA.
Crop markets found a boost toward the end of the week ending on March 24.
Calf markets are showing strength early in 2023, and the Livestock Marketing Information Center says optimism is brewing about the markets.
Some of the selling pressure on wheat this week comes from Russia and Ukraine agreeing to extend the Black Sea grain corridor, said Jack Scoville, an analyst with the Price Futures Group.
Planting season is rapidly approaching, and production costs are one of the primary concerns for corn farmers. With high input costs and a decline in new crop futures prices, maintaining a positive outlook could be difficult in 2023.
Pork exports continued to be strong as 2022 ended and 2023 began.
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