Cattle: Cash cattle last week $123.00-125.00; Nebraska $198.00-$200.00 dressed; boxed beef mixed on light movement; futures
Meandered back and forth around steady money all day. The premium kept the October in line while indecision over the August’s end month cash cattle trade kept that subdued. Apparently some traders pondering the effect of the ban on Zilmark on wts.
Hogs: Interior hogs lower, off $.59/1.32; pork midday cut outs lower early; futures only highlighted up front on bull spreading (or bear spread unwinding) as the October tries to narrow its gap between the interior/lean index. Otherwise, upside seen limited on weak cash hogs and limp pork prices.
GRAINS & OILSEEDS:
Corn: Soybeans: A rather modest consolidation after recent gains on 1) overbought technical and 2) possible rains coming in later week. Tour results providing no surprises especially from those hedge managers taking part in walking the jungle.
Wheat: Tried to hold ‘better than corn’ late session but fell back on inter-market spreading into the final bells. Very limited fresh news.