Mexico
John Heinberg with Total Farm Marketing says corn also got a boost from the 4% drop in crop ratings down to 63% good to excellent, the largest drop for the week in 20 years.
DuWayne Bosse with Bolt Marketing says the historic drop in crop ratings was supportive of corn and soybeans early. While cattle were trying to recover after the massive melt down on Monday but will it hold?
Brady Huck with Empower Ag Trading says the grain complex removed war and weather premium, while cattle ended sharply lower in reaction to the resumption of partial cattle trade with Mexico.
The reopening of the U.S.-Mexico border on Aug. 24 is expected to have a short-term impact on cattle markets, but analysts say the return of Mexican feeder cattle will not fundamentally change long-term supply.
Former US Trade Representative Bob Lighthizer says Mexico, not Canada, will be the biggest test in USMCA talks, citing trade deficits. That’s as agriculture leaders push to protect billions in North American trade.
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
USDA to open the Douglas, Ariz., port first to restart U.S.-Mexico cattle trade after more than a year of New World screwworm-driven closures — if Mexico adheres to the Joint Action Plan.
After 60 years of successful eradication, NWS has been detected in Texas. Understand the history of this parasite, the science behind the Sterile Insect Technique and USDA and TAHC’s actions to protect the U.S. livestock industry.