Dwight Elmore

USDA's monthly Cattle-on-Feed report summary has bullish bias for cattle complex next week as long as macro headlines and equity selloff stabilize: -July 1 Cattle on Feed modestly lower than expected -June Placements lower than expected - lowest in 8 years -June Marketings slightly lower than expected - lowest in 9 years Futures and options trading involves risk of loss and may not be suitable for all investors. https://lnkd.in/gqnX7ySn

Monday Market Watch - Grains Open New Week Lower on Continued Fallout From October WASDE No livestock market report available. December corn closed down 7 1/2 cents and March corn was down 8 1/4 cents. November soybeans closed down 9 1/2 cents and March soybeans were down 9 3/4 cents. December KC wheat closed down 14 1/2 cents, December Chicago wheat was down 13 3/4 cents and December Minneapolis wheat was down 14 3/4 cents. The U.S. Dollar Index is up 0.36 at 103.25. November crude oil is down $1.73 per barrel at $73.83. The Dow Jones Industrial Average is up 201 points at 43,065 with the NASDAQ up 160 points at 18,503. December gold is down $10.30 at $2,666.0, December silver is down $0.36 at $31.40 and December copper is down $0.0950. November ultra-low sulfur diesel is down $0.0649, November RBOB gasoline is down $0.0406 and November natural gas is down $0.133. Milk futures held up well despite the weakness of cheese and butter prices. Traders seem to believe the bottom must be near, or more selling pressure would have been seen in milk futures. The market will need to prove itself before traders may want to step in to buy. The November Class III contract fell below $21 after spending a week above the level. Milk production is steady and should be at the low for the year. Cooler weather will improve cow comfort and should improve milk output. The level of milk production that took place in September is uncertain, and we will not see the production report until next week. There are sufficient supplies of milk available for bottling and manufacturing, leaving buyers unaggressive even if milk production remains below a year ago. More: https://ow.ly/Ws5350TLebr #dashboardreport #excellsb #excell https://ow.ly/52oB50TLebs

Farmers in eastern Arkansas say their in "dire straits" with low commodity prices and high input costs such as seed and fertilizer. For daily news and analysis subscribe to the https://lnkd.in/gEFx2TMZ newsletter. #Agriculture #Farming #AgriTech

The South Dakota Corn Growers Association greatly appreciates the inclusion of a farm bill extension as well as around $10 billion in 2024 economic assistance for producers with the short-term continuing resolution to fund the federal government. Input prices have generally been increasing, including relatively recent spikes in fertilizer costs. We also note that targeting these dollars to those that bear risk, is strongly supported by our members. Finally, we thank our Congressional delegation and U.S. House of Representatives Speaker Mike Johnson (R-LA) for the inclusion of a fix to allow the sale nationwide, year-round of E15. This is great for consumers’ pocketbooks and a win for the environment, as E15 burns cleaner than other fuel options. South Dakota farmers have great ability to help provide food, feed and fuel here in our country. If anything has become apparent from “black swan” events such as Covid and Ukraine, it is that if we can produce energy and food here in the U.S., we should do so. We support the funding bill package and urge Congress to quickly pass this important legislation. https://lnkd.in/gKv4wk23

The agriculture industry in Mississippi is valued at a staggering $9 billion, with a recent rebound in broiler chicken production being a major contributor to this impressive figure. According to Josh Maples, an agricultural economist with the Mississippi State University Extension Service, this uptick in production has played a significant role in driving the state's agricultural economy forward. As we consider the significance of this industry, we must ask ourselves: what strategies can be employed to ensure the long-term sustainability and growth of agriculture in Mississippi, and how can we support smaller-scale farmers in their efforts to contribute to this thriving sector? #abutispinach #Agvocate #AgroDiplomacy 🌾👨‍🌾💡

Wednesday Market Watch - Live Cattle and Feeder Cattle Higher; Soybean Oil Soars Again to a Sixth Consecutive Higher Finish, Bringing Soybeans Along for the Ride It was a strong day for the cattle complex as both the live cattle and feeder cattle contracts closed higher, and the cash cattle market continues to wait for better bids from packers before they'll trade cattle. Meanwhile, the lean hog complex closed mixed, with the nearby contracts receiving more support than the deferred. More: https://ow.ly/Tmba50Sv1tM December corn closed down 1 3/4 cents per bushel, November soybeans were up 8 1/2 cents per bushel. September KC wheat finished down 8 3/4 cents per bushel, September Chicago wheat was down 7 cents per bushel and September Minneapolis wheat closed down 8 1/4 cents. The September U.S. Dollar Index is trading down 0.327 at 105.080. August crude oil is up $0.82 per barrel at $83.63. The Dow Jones Industrial Average is down 24 points at 39,308 with the NASDAQ up 160 points at 18,188. August gold is up $32.60 at $2,366.00, September silver is up $1.14 at $30.80 and September copper is up $0.1100 at $4.5290. August heating oil is up $0.0051, August RBOB is up $0.0285 and August natural gas is down $0.018. Class III milk futures were lower early in the day but found support from the increase of barrel cheese and the comeback of block cheese during spot trading. Overall, futures are sideways to lower. There are reports that spot milk loads are unavailable to a few plants this week in the Central region. This is unusual for this time of year as it is a holiday week. This compares to a year ago when spot prices were as much as $10.00 below class. Increased temperatures affecting cow comfort have been noted in many areas. Some areas have also had difficulty harvesting forage due to extremely wet weather. More: https://ow.ly/hYU350Sv1tJ https://ow.ly/TxcE50Sv1tK #dashboardreport #excellallnatural #feedlot

Tuesday Market Watch - Lean Hog, Feeder Cattle Contracts Close Higher; Ag Markets Post Mixed Reaction to Trade Rhetoric From President-Elect Trump The livestock complex rounded out the day mixed as both the lean hog and feeder cattle markets were well supported through Tuesday's close, but the live cattle contracts remained cautious. Still no sizeable sales have developed in the cash cattle market, but packer demand could improve on Wednesday. More: https://ow.ly/9pgp50UgnFz March corn closed down 5 cents and May corn was down 4 1/2 cents. January soybeans closed down 2 1/4 cents and March soybeans were down 1/4 cents. March KC wheat closed up 1 3/4 cents, March Chicago wheat was up 2 1/4 cents and March Minneapolis wheat was up 3 3/4 cents. The U.S. Dollar Index is up 0.30 at 107.11. January crude oil is down $0.17 per barrel at $68.77. The Dow Jones Industrial Average is up 124 points at 44,860 with the NASDAQ up 119 points at 19,174. December gold is up $8.30 at $2,626.80, December silver is up $0.23 at $30.47 and December copper is down $0.0490. January ultra-low sulfur diesel is up $0.0011, January RBOB gasoline is down $0.0054 and January natural gas is up $0.024. Class III futures found some buying interest as steady cheese prices were not viewed as bearish due to the strength of dry whey. Dry whey moved to a new high for the year providing price support to the market that cheese prices have not been able to do. Milk production is improving throughout the country with component values higher than a year ago. Butterfat is reported to be particularly higher providing a greater cream supply to the market. More milk will be available over the Thanksgiving holiday weekend, but it appears the spot milk supply may be less than usual for this time of year. However, that will not result in increased prices as manufacturing and bottling plants are not clamoring for extra milk supplies. Class IV futures showed substantial losses on some contracts as the continued weakness of the butter price turned traders increasingly bearish. Wednesday will be the last day to trade dairy futures and options for the week with both the spot market and the futures market remaining closed on Friday. More: https://ow.ly/8rB550UgnFB https://ow.ly/2rve50UgnFy #dashboardreport #excellallnatural #completecalfcare #replacementheifers

(USA25.04.24) #onions Market and Crop Update + Retail Snapshots for April 25, 2024 [AG: Australian Fresh Produce Market and Crop Updates + Retail Snapshots for April 25, 2024?] California's Imperial Valley notes strong demand for red onions and favorable sizing in other varieties. Texas and Mexico see the end of their seasons with positive market trends. Transition between regions like Texas, California, and Vidalia, GA, is smooth, with tight supplies of red onions. In crop updates, New Mexico anticipates an early start to the crop, while Colorado and Utah report satisfactory planting conditions. Retail Snapshots for April 25, 2024 https://lnkd.in/gZf843eU ----- [AG: In Australia's vibrant fresh produce industry, a significant issue looms large: the absence of readily available weekly Fresh Produce Market and Crop Updates and retail price snapshots. This dearth of crucial information poses a substantial obstacle for growers, hindering their ability to sustainably and profitably manage their operations. Without timely insights, growers are left to navigate uncertainty, lacking the necessary data to make informed decisions crucial for their businesses. Despite the well-meaning efforts of existing industry representatives, funded by taxpayers, this pressing issue remains inadequately addressed, placing growers at a distinct disadvantage. This isn't merely a plea for assistance; it's a call for empowerment. By prioritizing the dissemination of freely accessible and regular updates on market trends and crop progress, we can level the playing field, enabling growers to make informed choices that foster sustainable growth in our Australian fresh produce industry. Growers deserve access to up-to-date information on market dynamics, crop development and retail trends. Providing them with this knowledge not only benefits individual growers but also enhances the resilience and prosperity of our entire industry. It's time to bridge the information gap and empower growers to flourish amidst the ever-evolving market landscape. Let's prioritize transparency, collaboration, and innovation to secure a promising future for Australia's fresh produce industry.] ----- https://lnkd.in/gTJrB3Ns

USDA Crop Progress - 9% of Corn, 6% of Soybeans Left to Harvest; Wheat Condition Up as of Nov. 3 https://ow.ly/IzjL50TZTbY #cropprogress #dashboardreport #excelleratorallnatural #livestockshowsupplement #stockshowanimalsupplements #showanimalsupplements #showsupplements

🇺🇸🌾 During 6-12 Dec, US wheat net export sales totaled 457.9 KMT for 2024/25 MY, up 58% w/w and 16% from the prior 4WA. – USDA Weekly exports reached 405.7 KMT, up significantly w/w and 49% from the prior 4WA. Top destinations were Venezuela (80.8 KMT), Japan (66 KMT), and Mexico (60.1 KMT).