Posted 10:33 AM — Tuesday morning, the US Federal Reserve’s expectation of higher interest rates on Wednesday is being blamed for Tuesday’s lower stock market and the decline in metals and energy prices. However, crop prices are generally trading higher, reflecting the tighter supply situation this season, even as row crops begin to pick up. December corn is up 14 1/2 cents and November soybeans are up 21 cents while December soybean meal is up $10.00. December KC wheat is up 37 1/2 cents and December Minneapolis wheat is up 32 1/4 cents. October crude oil is down $1.54 and Dow Jones futures are down 328 points. US Dollar Index is up 0.30 and December Gold is down $5.00.
Posted 08:35 — After Tuesday’s 8:30 CDT open, the Commodity Committee is surprisingly unfazed as the US Dollar Index rose 0.51 in December ahead of the Federal Reserve’s expected rate hike on Wednesday . Corn in December is up 4 1/2 cents and soybeans are down 5 1/4 cents in November after the USDA reported early crop progress late Monday. KC December wheat is up 10 3/4 cents and Minneapolis December wheat is up 8 3/4 cents, erasing some of Monday’s losses as the forecast remains largely dry across the southwestern US Plains , unfavorable conditions for growing winter wheat. October crude oil is down $0.99 and Dow Jones futures are down 254 points. Gold in December is down $5.80.
Posted 11:53 — Live cattle in October are up $0.53 to $146.25, feed cattle in October are down $1.38 to $180.925, lean hogs in December are down $0.40 to 88, Up $55, corn is up 12 1/4 cents a bushel in December and soybean meal is up $11.80 in December. The Dow Jones Industrial Average is down 305.73 points and the NASDAQ is down 63.44 points. Cash cattle trading is currently very quiet. Some early asking prices are around $145-$146 in the South but are not yet established in the North. Pork packers have increased their hog slaughter pace in recent weeks and Tuesday’s slaughter is estimated to be another big day: 481,000 head, which is level with last week and 18,000 more than at this point a year ago.
Posted 08:44 — Live cattle in October are up $0.28 to $146.00, feed cattle in October are down $0.48 to $181.825, lean hogs in December are down $0.88 to $89.025 up, corn is up 9 cents a bushel in December and soybean meal is down $3.00 in December. The Dow Jones Industrial Average is down 251.49 points and the NASDAQ is down 73.83 points. Cattle country is quiet on Tuesday morning and any significant trading volume is likely to be delayed until Wednesday or Thursday.
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