Closing Grain & Livestock Futures
Mar. corn closed at $3.65, down 1/2 cent
Mar. soybeans closed at $10.75, up 5 and 3/4 cents
Mar. soybean meal closed at $351.10, up $2.30
Mar. soybean oil closed at 35.58, up 2 points
Mar. wheat closed at $4.31, down 2 and 1/2 cents
Feb. live cattle closed at $120.27, up 70 cents
Feb. lean hogs closed at $65.20, down 60 cents
Feb. crude oil closed at $51.08, down $1.40
Mar. cotton closed at 72.26, up 15 points
Mar. rice closed at $9.92, down 3 cents
Feb. Class III milk closed at $16.91, down 12 cents
Feb. gold closed at $1,212.10, down 80 cents
Dow Jones Industrial Average closed at 19,804.72, down 22.05 points
Grain & Oilseed Market Briefs
Soybeans up, watching Argentina
Soybeans were modestly higher on commercial and technical buying. The trade’s watching weather in Argentina – some areas are too wet and others are too dry. Corn was fractionally lower on profit taking and technical selling, after an up and down day. Corn’s also watching South America with more rain in the forecast for already wet parts of Argentina this weekend. The wheat complex was narrowly mixed. Minneapolis was up on the comparatively good demand for higher protein types of wheat and Kansas City followed.
Livestock Market Briefs
Internet auction trends higher
The Fed Cattle Exchange Auction on Wednesday listed a total of 4,108 head for sale, with 3,526 head sold. Boxed beef cutout values were higher on light to moderate demand and offerings. Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 1,578 head on Tuesday. Lean hogs settled .07 to 1.12 lower after shifting higher and lower through the session. Barrows and gilts in the Iowa/Minnesota direct trade closed .39 higher at 63.39 weighted average on a carcass basis. The pork carcass cutout value was down 1.69 at 78.84 FOB plant.
USDA publishes last minute final organic rule
USDA has finalized animal welfare standards for organic poultry and livestock producers that the National Pork Producers Council says is another ‘midnight’ regulation dumped on farmers.
Pork industry looks to next Farm Bill as FMD concerns continue
Pork producers are zeroing in on the next Farm Bill as concerns about Foot and Mouth Disease continue.
Mexico hog expansion could hurt U.S. pork exports
Mexico is expanding its hog herd, and a market analyst says it could significantly impact demand for U.S. pork.
Campbell’s reiterates GMO stance
A spokesman for Campbell’s Soup Company has clarified its position on GMO foods with Brownfield Ag News.
Fake cattle id scammer in custody
A Tennessee man has been accused of fraudulently selling electronic cattle ear tags throughout the U.S.
Vilsack to focus on dairy market access
Tom Vilsack says accessing more markets for U.S. dairy products is a priority in his upcoming role with the U.S. Dairy Export council.
Economist says MPP buy-up not wise in 2017
An economist says the improved price forecast for dairy means producers need to be cautious before adding buy-up coverage under the Margin Protection Program.
Milk futures, cash cheese lower
In Class III trade at the Chicago Mercantile Exchange, milk futures were lower, pressured by demand uncertainties and technical selling.
Michigan Cattlemen concerned with bovine TB
The Michigan Cattlemen’s Association plans to strengthen their policy on bovine tuberculosis at their upcoming annual conference.
Ohio CIG funding available
Ohio will award up to $150,000 for new projects adopting successful conservation practices on agricultural land.
Ohio dairy saw low financial returns in 2015
An Ohio State report shows Ohio dairy producers had the lowest financial returns in five years, in 2015.
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