Another solid week on the cash cattle. Could there be a correction headed our way? Any holiday pressure that might work into. How are cattle weights. Holcomb KS plant to start back up this week. How do you think the market react? Funds are long. Some red flags popping up. Hogs…way to cheap but China is playing a role in that. 10% of corn crop still in the field. Basis in corn market. China on again off again. December 15th…will we see changes before then? Mixed grain markets.
Markets closed early on Friday for the Thanksgiving holiday. This year’s crop outcome-what will be harvested is about there-this could move the markets higher as reality sets in that all the crop won’t be out before 2020. How will this change the basis? Cash will win in the end. South American production-any issues heading into December. December 15th deadline looming with China-will they just continue to buy what they need? Corn exports saw some improvements this past week. Getting a final spike trade in the dairy industry. Still seeing some Chinese purchases for milk powder. Weeks snowstorms and upcoming weekend weather be of concern to the feeder cattle market?
On Nov. 28, the European Parliament voted to approve a plan granting the United States a country-specific share of the European Union’s duty-free high-quality beef quota. The agreement, which was signed and announced in August, is detailed in this press release from the Office of the U.S. Trade Representative (USTR).
U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued the following statement:
Approval by the European Parliament keeps this agreement on track for implementation in early 2020, which is outstanding news for the U.S. beef industry and our customers in Europe. Lack of capacity in the duty-free quota has been a source of frustration on both sides of the Atlantic, and a U.S.-specific share of the quota will help ensure that U.S. beef can enter the European market 52 weeks per year, without delay or interruption.
The European Union is one of the highest value destinations in the world for U.S. beef, and consistent access will not only benefit U.S. producers and exporters, but also European importers and their clientele. USMEF thanks USTR and USDA for negotiating this agreement and securing its approval, which will bolster the U.S. industry’s efforts to expand the European customer base for U.S. beef.
Lower close headed into the holiday. Winter weather slows harvest once again & what are the implications. South American weather & crop update. Driest soybean in the past 4 decades but the crops look great. Trade talks, USMCA-8 days left on the schedule. If there is a will there is a way. China talks. Strong cash basis for corn & beans-some post-harvest feels. 124 million bushels of corn in NE…a lot more left as you head north. Exports tighten in Brazil. USDA put out a notice for export sales reporting of livestock. ASF.
Corn continues to see slop progress in harvest with over 3 billion bushels still out. Beans have been in a difficult spot, many still question the USDA reports. Hong Kong-is this causing a slow down in getting a trade agreement in place. South America supplies are running small. Cattle futures see a lower trade & ASF spread & the market effects.
Nice to have green on the screen even with bad trade news. Weekly crop progress report. Kansas Wheat condition. the corn market analysis going into next week & beyond. Lower U.S. dollar, Global plantings. Propane shortages continue with the need for harvest dry down. Thoughts of exports. Cattle is hitting some lofty levels. Holiday pressure begins.
Are the talks with China falling apart. Media play game? USMCA seems positive. Ethanol production 7th week higher…stocks lower. Brazil tariff quota for wheat. China & U.S. Poultry, ASF…
Markets giving back all the gains. Is China dead South America waiting to pounce. Tyson announcing earnings…Holcomb KS plant coming back on line, heavy weight cattle. Dean Foods & chapter 11
Turn Around Tuesday-sort of. Market deals with outside market pressure from lack of talks from China. Pushes coming to D.C. to move forward with USMCA. Harvest delays, planting progress in South America. Cattle market could continue to move higher in the weeks ahead. Worries of heavier cattle coming to market. Hogs have seen some struggles.
Cattle market makes another day of new highs except for December. Will this strong trade continue? Firmer cash market last week. Rumors we might see the Holcomb KS plant open earlier. Average weights are above a year ago. Lower grain markets. Year ago today March Corn 2nd largest crop…but still at the same price today. How much did the USDA WASDE glitch effect the markets?