Markets Now
National reporter Michelle Rook talks daily with industry analysts to break down crop and livestock commodity markets. Listen below to learn what’s happening with the markets when they open, at midday and again at close.
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More from Michelle Rook
Grains saw profit taking, farmer selling, China tariffs & higher Brazil crop estimates. Milk reversed off contract highs, while cattle rallied with lower corn, higher beef. Bryan Doherty, Total Farm Marketing, has more.
The cattle markets breathed a sigh of relief after USDA announced negative test results for H5N1 in ground beef. And a former USDA Under Secretary for Food Safety says is unlikely to be found in beef in the future.
Grains see profit taking on the announcement of additional China tariffs, plus Conab raises Brazil estimates. Livestock bounce on short covering, higher products, lower feed. Kent Beadle, Paradigm Futures, has more.
Grains rally led by wheat on continued crop concerns and fund short covering. Live cattle lower despite the futures discount to cash. Hogs fall on the futures premium to the LHI. Brian Grete, Pro Farmer, has more.
Brian Grete, Pro Farmer editor, says wheat led the price rally in wheat once again adding weather premium on global production concerns.
Grain & livestock futures are mostly higher. Brad Kooima, Kooima Kooima Varilek says cattle are at a discount to steady to higher cash which is supportive, Hogs see short covering. Grains continue to add risk premium.
Chip Nellinger, Blue Reef Agri-Marketing, says if rains continue to delay planting and wheat areas like Russia and the Southwest Plains miss forecasted rains that could continue to drive buying interest in the grains.
Grains end higher on Friday after the WASDE but was the market trading the report or was it weather and fund short covering? Chip Nellinger, Blue Reef Agri-Marketing, has more plus talks cattle.
Jerry Gulke, president of the Gulke Group, says in the report USDA finally rectified the old crop corn carryover figure trimming it by 100 million bushels with an increase in demand.
Grains higher post-WASDE. U.S. numbers came in friendly for corn, neutral for wheat but bearish for soybeans. So, is the market trading the report or is it fund short covering? Matt Bennett, AgMarket.Net, has more.