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Details are minimal so it’s not clear how there will be enough staff to provide the Milk Production, Crop Production, Cattle on Feed and WASDE reports with many still furloughed.
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Strong production numbers and government policies support the thesis of higher costs for longer.
After an ugly pullback in the cattle market futures are trying to recover according to Scott Varilek of Kooima Kooima Varilek as cash strength is returning in the feeder cattle market.
Mark Schultz with Northstar Commodity says in response to the China deal the soybean market pushed into new highs for the move with January finally closing above the $11 mark.
The announcement Beijing is buying soybeans marks a crucial step toward achieving some market stability for U.S. growers in the near term and hope for the future. USDA’s Vaden says the purchase ‘represents a floor and not a ceiling,’ while ag economists offer a mix of optimism and caution.