Cattle:
– Cattle on feed numbers for this week are 122,000, down approximately 13,500 from a year ago
– Cattle market gained about 0.2% so far this week
– Choice/Select spread is widening
– Cattle cash prices ranging from 186-198
Hogs:
– Hog slaughter for the week was 475,000, down a little from last week but above year ago
– Lean hog index up 6 cents yesterday
– Pork cutout down 27 cents at 961
Grains:
– Corn ratings may drop another 1% due to dry, warm conditions
– Soybean export commitments down 14% from USDA forecast
– Argentina soybean crop estimated at 50.5 million tonnes
– Brazil soybean crop estimated down 5.6 million tonnes from USDA at 147 million tonnes
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