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DTN Early Word Livestock Comments 10/10 06:23

10 Oct 2024
DTN Early Word Livestock Comments 10/10 06:23 Livestock Futures May Show Further Weakness Thursday Livestock futures corrected with lower prices across the board Wednesday. This weakness may have been a price correction rather than the market reaching a peak. This may correct the overbought market. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $224.57 +$0.65* Hogs: Lower Futures: Lower Lean Equiv: $101.20 +$0.39** *Based on the formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. The index has been updated to depict recent changes in live cattle weights and grading percentages.) ** based on formula estimating lean hog equivalent of gross packer revenue. GENERAL COMMENTS: Traders did not see any cash cattle trade develop and felt the market already had an increase factored in. The October live cattle contract moved near the contract high with December and February setting new highs before falling back Wednesday. Traders decided to temper their buying ahead of seeing what cash would do this week. There is anticipation that cash cattle will trade higher this week, but higher cash is already factored in. Boxed beef prices indicated demand is improving with prices higher again Wednesday. Choice boxed beef increased by $1.34 with select up by $0.02. Based on the pattern of the past two weeks, it isn't likely cattle will trade today unless packers feel they need to get business done and pay more for the cattle. Feeder cattle prices continue to remain strong on good demand.
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FARM MARKET NEWS - CORN REPORT FOR Fri, September 27

27 Sep 2024
FARM MARKET NEWS - CORN REPORT FOR Fri, September 27 Exchange rate was 1.3493 up 0.0047 Chicago corn closed slightly higher. DEC24 HI 4.19 3/4 DEC24 HI 4.19 3/4 LOW 4.10 3/4 LOW 4.10 3/4 CLOSE4.18 Up 4 3/4 CLOSE 4.18 Up 4 3/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt ELEVATORS +DEC24+DEC24+MAR25 CK...

FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Fri, September 27

27 Sep 2024
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Fri, September 27 Exchange rate was 1.3493 up 0.0047 Chicago soybeans closed moderately higher. NOV24 HI 10.69 1/2 NOV24 HI 10.69 1/2 LOW 10.34 1/4 LOW 10.34 1/4 CLOSE10.65 3/4 Up 24 3/4 CLOSE 10.65 3/4 Up 24 3/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt ELEVATOR...

Ag Shipping Concerns at Harvest

27 Sep 2024
COLUMBIA, Mo., (DTN) -- With fall harvest and grain shipping reaching a peak, agricultural groups are calling on the Biden administration to protect agricultural shippers from a growing number of transportation bottlenecks. The National Grain and Feed Association (NGFA) on Friday led a letter to President Joe Biden signed by 195 agricultural groups...

DTN Closing Grain Comments 09/27 13:49

27 Sep 2024
DTN Closing Grain Comments 09/27 13:49 Corn, Soybeans, Soybean Meal Surge to Big Gains on Fund Buying With Wheat Lower Soybean and soymeal futures surged Friday while December corn challenged the recent high ahead of Monday's USDA small grains summary and September 1 stocks report. Bean oil continued to correct following Thursday's reversal, and al...
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