What You Need to Know Today:
Cattle futures crashed on social media rumors that ICE raided one or possibly three fed cattle packing plants in Kansas Monday night or Tuesday morning. Operations at one plant have been disrupted and production curtailed. Outcomes for shipping via the Strait of Hormuz are as unclear as ever after Reuters reported overnight that Iran could reopen the lane within a week if the U.S. reduces its blockade and military pressure, but that Iran’s president will not meet with President Trump during this week’s UN summit. President Trump is rumored to be meeting with the Arab Gulf states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE as part of the UN General Assembly. Much of the U.S. remains un...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
