Cattle: Cash cattle so far $122.00 Nebraska and $195-$196.00 dressed; boxed beef lower on light midday movement; futures mixed with cash cattle coming in lower after yesterday’s sell-off. Light support from what has been strong beef movement though the weekly beef export sales number was disappointing.
Hogs: Interior hogs not well established; pork midday cut outs lower; futures score new highs as fund buying once more moves in; talk continues that a combination of low weights and delayed marketing’s off the summer illness tightened the supply situation.
GRAINS & OILSEEDS:
Corn: Informa 14.013bln.bu. with 157.2bu./acre is negative but the break coming in allowed some pre-weekend shortcovering.
Soybeans: Mixed bag in a consolidation trade after yesterday’s ‘reversal’ in futures. Warmer and drier weather provided some underlying support. Informa 3.239bln.bu. with a 42.4bu./acre negative but much was already in the market coming in.
Wheat: Rallied with corn but unlike corn (and beans) weekly export sales were supportive. However, gains still limited to what the corn action did.