Kleist Comments

CLOSING AGS 9/06/13
CLOSING AGS 9/06/13

LIVESTOCK

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.

Kleist Comments

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

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