In the News

We are distributing the forms to update your organization's listing in the annual Agri Marketing Services Guide. Please respond promptly. To schedule your ad, contact Audrey Evans: AudreyE@AgriMarketing.com.

ADVERTISEMENT

Proven Performance

Flex and build your marketing muscle in the beef market with solid, targeted beef producer impact. As with beef genetics, you want proven performance - Farm Progress' pedigree is built on its powerful user-engaged brands and multi-layered audience impact tools.

It all starts with our iconic industry brands - print, digital, mobile and innovative digital producer ID and engagement solutions: BEEF, BEEF Vet, Beef Producer, Feedstuffs
Read More

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-0.0075	3.8575	3.7625
Soybeans	+0.0450	9.4600	9.0675
Wheat	+0.1000	5.6450	5.1375
Cattle	+2.70	127.43	124.88
Hogs	-1.30	67.25	64.08
Cotton	+2.11	71.31	72.85
Milk	-0.06	16.96	14.45
Crude Oil	-4.01	59.04	52.59

Grain and soybean futures were mostly higher on the week, underpinned by expectations of a U.S.-China trade deal signing. Positioning ahead of Friday's key USDA reports was a factor throughout the week, although the reports ended up not being a major market-mover in most cases. The USDA reports, including Crop Production and Dec. 1 Grain Stocks, were mixed for corn, neutral for wheat and a non-event for soybeans. USDA's corn yield estimate was actually higher, and up from expectations, although it was offset by a reduction in harvested acres. USDA slashed corn export and corn-use-for-ethanol demand, off-setting it was a large increase in "feed and residual" use. Wheat futures remained strong, making new multi-month highs on Friday. Cotton futures also surged, making a fresh eight-month high as USDA slashed its 2019 Texas crop estimate further. Rice futures made new contract highs and had support late in the week from USDA's cut to the 2019-20 carryout. Crude oil futures were down sharply on the week and made a big bearish reversal on the weekly chart. The market soared early in the week on tensions in Iran and the threat of war, before retreating sharply.

In the livestock complex, live cattle futures surged on Monday, consolidated through the middle of the week and made new highs again on Friday. Near-term supply fundamentals are strong as market-ready cattle supplies are seasonally tight. Meanwhile, cattle slaughter has increased since Tyson Food's Holcomb, Kan. Beef plant came back on line last month. Near-term beef demand has been soft, however. Packer margins that have dropped to near break-even are another question mark for the market. Lean hog futures were firm early in the week but tumbled on Thursday to their lowest price in several weeks. The market was pressured by large hog supplies, futures' premium to cash, and technical selling.

Click on the Brock logo or call 1-800-558-3431 for more info on our services.