Hog Prices-Markets
Proposition 12 is exacerbating food insecurity in California – especially in the Asian and Latino communities who rely on pork as their primary protein.
Allison Thompson with The Money Farm says corn has rallied nearly $1 and soybeans around 50 cents off the lows. So production and ending stocks will need to come in well under trade estimates in the USDA reports for prices to push higher.
Rich Nelson with Allendale, Inc. says grain markets are seeing early pressure with a rebound in the U.S. dollar index back near recent highs, but also watching South American weather and ahead of USDA reports on Friday.
Kent Beadle with Paradigm Futures says corn and soybeans are seeing profit taking and farmer selling after hitting chart resistance on Monday at previous highs and retreating.
Brad Kooima of Kooima Kooima Varilek says cattle futures recovered nicely from Friday’s selloff with some contracts making new highs for the move, pricing in record cash cattle trade. Grain markets are seeing fund buying with soybeans and meal leading on dry weather forecasts for Argentina.
Randy Martinson, Martinson Ag, says corn and soybeans saw early pressure as both markets ran up into chart resistance which triggered fund profit taking.
Darin Newsom with Barchart says corn and soybeans were higher on technical buying and adding some weather premium with a hot dry extended forecast for Argentina and Southern Brazil. Cattle futures followed record cash in the South.
DuWayne Bosse, Bolt Marketing, says corn scored a new six month high close for the move on dryness in the extended forecast in Argentina and funds adding to their long position.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are extending gains after a higher week in the futures and with higher cash trade. Grains are seeing technical buying but dryness in Argentina is also a concern.
From trade and deregulation to alternative land uses and cash rent prices, ag economists have no shortage of issues on their radar for 2025.
Although there were no earth-shattering surprises in the Dec. 1 USDA Hogs and Pigs Report, economist Lee Schulz says there are several important takeaways for pork producers as the year comes to a close.
Chip Nellinger, Blue Reef Agri-Marketing says soybeans recovered off Thursday’s new contract lows on fund short covering and profit taking, plus market talk that China was in buying soybeans. Corn put in the highest weekly close in six months.
Grain markets are seeing value and technical buying but Kent Beadle of Paradigm Futures says the rebound in soybeans is supported by a recovery in the Brazilian Real.
Scott Varilek of Kooima Kooima Varilek says soybeans see a dead cat bounce off contract lows Thursday. Meanwhile, cattle futures end lower despite good early cash news. So is this topping action?
Alan Brugler of A&N Economics, LLC says corn started higher still digesting the bullish cut to ending stocks in the December WASDE but ran into chart resistance.
Kent Beadle, Paradigm Futures, says grains are extending gains from Tuesday on technical and fund buying as the markets. The markets are still digesting the bullish USDA report data for corn and even wheat.
Arlan Suderman, Chief Commodities Economist for Stone X, says corn and wheat ended higher on value buying after wheat hit contract lows last week. Soybeans continue to be under pressure with favorable weather in Brazil and basis levels below the U.S.
Brad Kooima, Kooima Kooima Varilek, says cattle are working in last week’s higher fed cash cattle trade. Grains are also mostly higher adding geopolitical risk premium and ahead of the WASDE.
John Heinberg, Total Farm Marketing, says corn failed mid-session with conflicting information about guidance being delayed for the 45Z Clean Fuel Production Credits, but it also hit chart resistance.
Brad Kooima, Kooima Kooima Varilek, says cattle recover Tuesday after a KS plant closure headline hurt the market. Grains see a technical bounce with a lower dollar.
Jim McCormick with AgMarket.Net says Mexico, Canada and China are the top three export customers of the U.S. and account for 40% of total exports. So, if these countries retaliate it could be devasting for trade and ag markets.
Mike Minor, Professional Ag Marketing, says the markets shook off tariff talk and saw positioning end of month and before first notice day Friday.
Jim McCormick, AgMarket.Net, says corn and soybeans slid on possible tariffs being placed on Mexico, Canada and China. Wheat ends higher on short covering.
Randy Martinson, Martinson Ag, says market reaction has been muted to possible 25% tariffs on Mexico and Canada and 10% on China on the first day of the Trump administration.
Kent Beadle with Paradigm Futures says soybeans built on Friday’s bullish reversal with talk China is looking for more U.S. soybeans. Cattle had a volatile session with a bearish Cattle on Feed Report and sorting through import restrictions on Mexican cattle due to New World Screwworm.
Brad Kooima, Kooima Kooima Varilek, says cattle futures shook off the bearish Cattle on Feed Report numbers with an announcement of New World Screwworm detected in Mexico. Soybeans built on the key reversal Friday on talk of China buying U.S. soybeans.
Scott Varilek of Kooima Kooima Varilek says cattle futures are being led by the feeders and the cash market which is on fire out in the country. Grains are sliding early despite solid export business.
DuWayne Bosse of Bolt Marketing says corn and wheat held risk premium tied to the escalating conflict in the Black Sea and despite a higher dollar.
Tomm Pfitzenmaier with Summit Commodity Brokerage says grains are facing the headwind of returning strength in the U.S. dollar index and the lack of weather threats. Soybean oil losses are additionally pulling down soybeans.
Ted Seifried, Zaner Ag Hedge, says wheat led the rally in the grains initially on a weaker dollar and adding geopolitical premium.