What You Need to Know Today:
The U.S. and Iran exchanged strikes, with the U.S. hitting Iranian bridges, energy sites, and military infrastructure. Iran launched a missile into Kuwait that damaged a desalination plant. Crude oil futures surged on heightened Middle East tensions, providing support to energy-linked markets and biofuel feedstocks. New-crop soybean sales continue to flourish, with 707 KMT worth of flash sales announced today by the USDA. Cattle markets continued to shed their New World screwworm risk premium, while hogs remained supported by strong pork demand.
Outside Markets Crude oil futures surged nearly 4 percent today as escalating U.S.-Iran tensions increased concerns over potential disruptions to Middle East energy in...
What You Need to Know Today: The cattle market rebounded sharply this week, with January feeder cattle futures gaining $16.98/cwt and February live cattle futures advancing $7.60/cwt since last Friday. Tyson Foods' plans to restore a second processing shift at its Amarillo, Texas, facili...
Tuesday’s CPI report from the Bureau of Labor Statistics (BLS) showed inflation roaring back stronger than expected in October. That probably locks in another rate hike – which was expected anyway – at the Federal Open Market Committee (FOMC) meeting in December. Consumer pric...
Key Takeaways: The rationale for farm programs has changed significantly from their original intentions. Farmers’ incomes have grown sharply and have surpassed non-farm incomes beginning in the 1970s. Current farm programs are complex and focus on supporting risk management, environmenta...
