Hogs Extend Weekly Gains on Follow Through Buying: Hog futures extended weekly gains on Tuesday in response to last week’s inventory report. The CME cash hog index gained $.04 to $91.51 and the formula for Wednesday is $.64 higher. There are just two other years that the index was higher at the end of September.…
Highlight: Negative Indian Ocean Dipole Fading But La Nina to Strengthen Which Keeps Australia Avoiding Drought Risk Fig. 1: The meteorological winter 2021 percent of normal precipitation observations across Australia. Discussion: Negative phase of the Indian Ocean Dipole (-IOD) is fading. Meanwhile La Nina is redeveloping. In fact, according to multivariate ENSO index, a La…
Highlight: East and South Australia patchy wet zones. Charts of the day: The 5-day outlook Discussion: Wet weather in the southeast continent crop areas this week with marginal wet conditions in the southwest crop areas. Cool in northeast New South Wales while northern areas are warmer than normal. Week-2 Ahead Forecast valid October 3-9, 2021:…
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