Cattle: Narrowly changed all session with indecision over the fate of cash cattle this week. It would be easier with having beef activity, both price change AND size of movement but what is, IS. Have to say not too bad since packers would feel it first (and pay lower) would they not?
Hogs: Some reports of steady/mixed at old terminals and some talk major packers will use some type of CME futures and their cash pork to guide their live market buying decisions. You know, for all the times packers kicked in “confidentiality” to NOT disclose certain interior prices and yet that was not a problem was it? How about they just report prices to the news wires for awhile?
GRAINS & OILSEEDS:
Corn: Soybeans: Both markets basically hit a chart brick wall with the December at the $4.50 area and the ‘double high’ in the November beans at $13.05-3/4 area. Weather also drying up an with it expected pick up in harvesting and with that expected increase in cash movement (once both in the 50% completed range it is easier for the producer to close the silo doors for the rest of the year). No visible or just light export demand also eased back buyers and allowed for some local profit taking. Wheat mixed across their respective exchanges with Chicago’s weakness certainly spillover from the corn losses.