Closing Prices February 22nd, 2019 and weekly change.
Grains
March Corn $375.25 up .50
March Soybeans $910.25 up 2.75
March Wheat $486.75 down 17.50
March KC Wheat $458.50 down 18.00
Livestock
April Live Cattle $128.875 up 1.700
April Lean Hogs $55.450 down 2.975
March Feeder Cattle $142.90 up .30
For the week ended February 22nd, 2019 we saw the grains mixed with corn and soybeans higher while wheat drifted lower. Live Cattle, Feeder Cattle and Lean Hogs were all higher for the week.The grain trade is cautiously optimistic that something will happen next week on the China trade deal. Hog supplies are seen as over burdensome while beef production is favorable.
“A new trade deal between the US and Japan could be a boon for US livestock producers, especially if it contains similar conditions that were in the now-defunct Trans-Pacific Partnership (TPP) trade deal. “The TPP, for all-intensive purposes, was a comprehensive deal with the US and Japan,” says Jeffrey Schott, a senior fellow at the Peterson Institute for International Economics. Prospects for a bilateral deal are limited, Schott said, but for US meat it could be huge. Japan imported over $5B worth of pork and $4B worth of beef in 2018, according to Erin Borror, an economist with the US Meat Export Federation. Japan imported nearly 400,000 metric tons of US pork last year, but Canada is taking US market share, Borror says. Japan currently has beef tariffs in place. (kirk.maltais@wsj.com; @kirkmaltais)”
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.
