Kleist Comments

CLOSING AGS 9/09/13
CLOSING AGS 9/09/13

LIVESTOCK

Cattle: Cash cattle last week $122.-123.50, with dressed Nebraska $194-$195.00; boxed beef lower on light midday movement; futures

under pressure most of the session on its premium to the live and after last week’s disappointing live trade.

Hogs: Interior hogs sharply lower; pork midday cut outs higher; futures hold lightly together in a quiet trade. While interior markets got hit on an early run the pork trade was higher led by loins, bells and butts; ‘hot’ temps and causal wt. loss noted as an underlying feature.

GRAINS & OILSEEDS:

Corn: Lower day led by spot September which gets hit from a southern harvest after more old crop corn found air as the crop growing season wraps up and production differences from here out not likely of matter.

Soybeans: Like the corn, spot September hit harder on a bit of old crop showing up and ahead of early southern harvest supplies (light though they’ll be) and seemingly stalled export demand.

Wheat: Losses in line with the corn pit as wheat cannot escape the gravity of being a major substitute feed grain. Add to that no export business around to start the week and no apparent crop problems globally.

Kleist Comments

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

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