Periodic Updates on the Grains, Livestock Futures Markets

Posted 08:36 — After Tuesday’s 8:30 a.m. CST open, grain prices are mostly lower with snow falling around the northeastern Corn Belt and rain throughout the southeastern Corn Belt, helping river levels get a boost later this week. December corn is down 5 cents and January soybeans are down 5 1/2 cents. Shortly after 8 a.m. CST, USDA reported 9.1 million bushels of U.S. corn and 9.6 million bushels of U.S. soybeans sold to Mexico, both for 2022-23. December KC wheat is down 8 1/2 cents and December Minneapolis wheat is down 5 1/4 cents. December crude oil is down $1.12 and Dow Jones futures are up 386 points. The U.S. Dollar Index is down 0.66, near the lowest price in three months after the Labor Department reported producer prices increased 0.2% in October, less than expected. December gold is down $.70.

OMAHA (DTN) — December live cattle are up $0.28 at $151.85, January feeder cattle are down $1.43 at $178.025, December lean hogs are up $0.73 at $85.6, December corn is up 1 1/4 cents per bushel and December soybean meal is up $0.50. The Dow Jones Industrial Average is up 164.35 points. Heading into Tuesday afternoon, traders will need to see strong fundamental support in closing boxed beef and pork cutout prices if they are going to keep with this rally in the live cattle and lean hog markets into Wednesday. Meanwhile, the feeder cattle complex is trading lower as it’s leery of what corn prices could do.

Posted 08:35 — December live cattle are up $0.15 at $151.725, January feeder cattle are up $0.25 at $179.7, December lean hogs are up $0.10 at $84.975, December corn is down 3 cents per bushel and December soybean meal is down $1.60. The Dow Jones Industrial Average is up 371.97 points. The livestock complex is fronting a mild rally at Tuesday’s start as the grain complex again trades lower. It’s too early in the week for cash cattle trade to develop, so seeing meat demand in the form of strong pork cutouts and strong boxed beef prices will be important.

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This year’s DTN Ag Summit will be conducted virtually on the mornings of December 12-13, 2022. Please join us for DTN lead analyst Todd Hultman’s insights into how long these high crop prices will last and what to watch for in the year ahead. Full details available at www.dtn.com/agsummit

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