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Beef packer leverage is evident with cash cattle prices $7 per cwt. lower than the same week a year ago and beef cutout prices $23 per cwt. higher. Pork producers are gaining leverage with a $5 per cwt. price rally.

The pendulum continues swinging toward cattle feeders as cash prices jumped $3 last week and left packers with their largest negative margins in nearly six years.

Profit margins for both cattle and hog finishing operations saw modest gains last week but also carry significantly higher feed costs than a year ago.

Cattle feeding margins declined last week after modest declines in cash cattle prices. Pork producer margins remain underwater.

During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.

“This is the earliest we’ve reported tar spot in Iowa,” says Robertson, Iowa State professor of plant pathology. She says the early detection could be due to the Tarspotter app. Here’s how it works.

Erik Lichtenberg, University of Maryland professor, says Congress could reorient farm bill conservation funds for climate change, but it could cut into their support.

The next opportunity for USDA to adjust its corn yield forecast is next week during the July WASDE report. Currently, USDA has penciled in a 181.5 bu. per acre national yield, but analysts think it may be too optimistic.

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Grains lower with wetter extended weather, sluggish exports & awaiting direction from the WASDE. Will USDA make yield adjustments? Cattle bounce on lower corn, while hogs consolidate. Joe Vaclavik, Standard Grain.