It was a rough day throughout the livestock complex as the market saw pressure abound technically as fundamental support continues to lag. No substantial cash cattle trade has developedyetthis week, but packer interestis expectedto increase by Thursday.
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 05/01/24 VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Wed, May 1 Exchange rate was 1.3713 down 0.0035
FARM MARKET NEWS - CORN REPORT FOR Wed, May 1 Exchange rate was 1.3713 down 0.0035
July corn closed up 4 cents and December corn was up 3 1/4 cents. July soybeans closed up 7 1/4 cents and November soybeans were up 5 1/2 cents. July KC wheat closed down 10 1/4 cents, July Chicago wheat was down 4 cents and July Minneapolis wheat was down 2 cents.
The cotton market continues to post new lows for the move with triple-digit closings Wednesday.
Cottonseed Prices 05/01 Last May May-Aug New Crop
With traders still leery of overly supporting the livestock contracts amid mixed consumer demand and the potential that more bird flu cases may develop, traders remain cautious in this marketplace.
Corn futures are flat to a penny lower at midday Wednesday; soybean futures are 6 to 8 cents higher; wheat futures are 2 to 9 cents lower. The U.S. stock market is mixed at midday with the S&P 13 points lower.
USDA Daily Market Rates 05/01 DAILY MARKET RATES(GRAIN/MISCELLANEOUS COMMODITIES)