Kleist Comments

CLOSING AGS 6/14/13
CLOSING AGS 6/14/13

CLOSING AGS 6/14/13

LIVESTOCK

Cattle: Cash cattle so far: $120.00 south, dn. $2.00—neb. dressed $195.00 dn $2.00; boxed beef moderately lower on light midday volume; futures hit hard as the cash cattle kick off lower than expected in Ks. at $120.00, then Tx. Continued concerns over extended weak beef demand remains; weekly beef export sales also noted as routine. U.S. consumer confidence readings fell, adding a negative tint.

Hogs: Interior hogs up $.05/.21; pork midday cut outs sharply higher early; futures in June higher tracing cash into expiry while July gets pressure on talk pork prices might be hitting summer highs.

GRAINS & OILSEEDS:

Corn: July corn the stellar performer in an otherwise obscure trade. Except for the old reasons, I know of no NEW overtly bullish news. Back months reflected what could be improved weather conditions.

Soybeans: Tag along trade it seemed with the front corn helping the front beans in light volume. Weather reports suggesting lessened rain chances through next week for plantings and yesterday’s weekly export sales report likely limited the upside.

Wheat: Moderate losses in quiet dealings. July fell back early but held its May and yesterday’s low prompting light shortcovering. No fresh news to speak of.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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