Closing Prices March 8th, 2019 and weekly change.
Grains
May Corn $364.25 down 8.75
May Soybeans $895.75 down 15.75
May Wheat $439.50 down 12.75
May KC Wheat $430.75 down 14.00
Livestock
April Live Cattle $129.675 up .125
April Lean Hogs $60.550 up 4.15
May Feeder Cattle $147.700 up 2.65
This week saw the grain market move substantially lower as traders are losing hope a trade deal will be achieved any time soon with China. On the other hand livestock futures were higher with signs of better demand for the product.
World Agricultural Supply and Demand Estimates
The statistics released in today’s WASDE — placing wheat and corn ending supplies higher while dropping export forecasts for those grains — did little to change traders’ minds about the status of the market’s supply and demand metrics. “All price-negative (supply/demand) fundamental numbers I’ve seen so far should be already factored-in for Feed-Grains given the recent price collapse,” says Mike Zuzolo of Global Commodity Analytics & Consulting. Some traders are simply happy that the WASDE didn’t introduce any market-shaking surprises. “I think as much as anything right now, there’s relief that it’s over — that we’re done with it,” says Dan Hueber of The Hueber Report. kirk.maltais@wsj.com
Cattle on Feed Report
US Cattle on Feed Up Slightly in February — Market Talk 16:01 ET – The USDA says that cattle and calves on feed for the slaughter market in the US totaled 11.7M head as of Feb. 1, which is slightly up from the same time last year. According to the USDAs’ Cattle on Feed report, placement in feedlots during January totaled 1.96M head, which is 5% below 2018. Meanwhile, marketings of fed cattle totaled 1.91M head, 3% higher than last year. April live cattle futures closed on the CME today up 0.6%, at $1.29675 per pound. kirk.maltais@wsj.com
If you would like to review our current inventory of farms and land for sale in Northwest Missouri click on this link Davidson Real Estate Farms for Sale
And for more information on agricultural commodities and prices the CME Group is a good resource. Feel free to contact any of our team for more information on farm and land values as they relate to the ever changing commodity price changes.
