Closing Grain & Livestock Futures
Mar. corn closed at $3.68 and 1/4, down 5 and 1/4 cents
Mar. soybeans closed at $10.32 and 1/2, down 11 and 1/4 cents
Mar. soybean meal closed at $339.60, down $2.40
Mar. soybean oil closed at 32.89, down 63 points
Mar. wheat closed at $4.41, down 6 and 3/4 cents
Feb. live cattle closed at $117.92, up $1.40
Apr. lean hogs closed at $70.77, up 95 cents
Mar. crude oil closed at $53.40, up 4 cents
Mar. cotton closed at 73.43, down 153 points
Mar. rice closed at $9.33 and 1/2, down 1/2 cent
Mar. Class III milk closed at $16.87, down 6 cents
Feb. gold closed at $1,237.30, down $2.40
Dow Jones Industrial Average closed at 20,624.05, up 4.28 points
Grain & Oilseed Market Briefs
Soybeans, corn down watching South America
Soybeans were lower on profit taking and technical selling. South American conditions generally look good with only limited flooding expected in Argentina. Corn was lower on profit taking and technical selling. Corn’s also watching conditions in South America and expecting at least some slowdown in export demand, against continued solid domestic demand. The wheat complex was lower on profit taking and technical selling. The supply side of the market is bearish and demand is essentially neutral.
Livestock Market Briefs
Cattle trade steady to higher
USDA Mandatory reported negotiated cash cattle trade and demand was moderate on Friday in the Southern Plains. Boxed beef cutout values were higher on moderate demand and moderate to heavy offerings. Chicago Mercantile Exchange live cattle futures contracts closed .45 to 1.40 higher. Lean hogs settled .25 to 1.00 higher. Barrows and gilts in the Iowa/Minnesota direct trade closed .28 lower at 74.05 weighted average on a carcass basis, the West was down .32 at 74.00, and nationally the market was .34 lower at 72.95. The pork carcass cutout value was up .23 at 84.65 FOB plant.
Ag reacts to Scott Pruitt’s confirmation as EPA chief
Two Democrats have voted with Republicans to confirm the nomination of Scott Pruitt as the nation’s new EPA Administrator.
Growing domestic and global demand for US pork
The CEO of the National Pork Board says the pork industry needs to increase market share both domestically and globally.
Mexico may pay high premium to source South American grain
A market analyst says Mexico’s talk this week to cease US grain purchases in response to rhetoric from the Trump Administration – may be easier said than done.
Agronomist advises against early action in the field
Spring-like weather across sections of the Corn Belt has some farmers starting fieldwork much earlier than usual.
Deere earnings down, cost management improves profits
Deere and Company’s first quarter income is down, but CEO Samuel Allen says despite lower earnings, the company is profitable because of cost management.
Latino work stoppage slows hog processing
The one-day U.S. work stoppage by many Latino workers on Thursday had an impact on pork processing.
Former NRCS chief Weller finds right fit at Land O’Lakes
Former NRCS chief Jason Weller says he wants to help farmers become more productive and efficient in his new role with Land O’Lakes.
Milk futures down, cash dairy mostly lower
Class III milk futures at the Chicago Mercantile Exchange were down on follow through selling.
Conservation practices from a farmer perspective
To say Randy Miller is serious about conservation would be a big understatement.
Pork production expanding in Eastern Corn Belt
A pork producer says farms in Michigan and surrounding states are expanding to meet the needs of the new Clemens Food Group pork processing plant.
Reducing pig aggression in group housing
An animal behavior specialist is researching how genetics and management practices can reduce pig aggression in group housing.
Dayton signs RFA bill into law
Legislation to fund the Rural Finance Authority (RFA) will be signed into law by Minnesota Governor Mark Dayton today.
Fewer overall farms in Minnesota, but more high-revenue operations
New USDA data shows while there are fewer farms in Minnesota, the number of high-revenue operations is increasing.
Super School Breakfast promotes dairy ahead of Super Bowl
The Minnesota Super Bowl Host Committee’s Super School Breakfast initiative is highlighting the importance of dairy products as part of a nutritious diet to children throughout the state.
Walker signs Oostburg cheese plant exemption
The first new law of Wisconsin’s new legislative session allows a Sheboygan County cheesemaker to expand.
Transportation laws for livestock, farm goods vary
An instructor says many producers do not understand agricultural transportation requirements.
Spring-like weather builds across the Heartland
On the Plains, spring-like weather continues.
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