AgResource Hog Comment and Analysis
Hogs End Mixed Friday, Higher For The Week: CME hog futures closed mixed on Friday amid nearby weakness. July hogs pared back its premium to the cash index ahead of next week’s expiration, while 2023 hog futures marked $1+ gains. June hogs for next year closed just under $100. The CME cash indexes were both…
Analysis of US Red Meat Exports
Pork exports in May increased slightly from May, but at 549 Mil Lbs were down 20% from last year and the lowest May export rate in three years. Once again, lower exports to China accounted for much of the decline. May exports to China were 110 Mil Lbs or 70% less than last year. This…
AgResource Soybean Comment and Analysis
Soybean Mark Strong Late Week Gains: Old-crop soybean futures rallied 28-39 cents on Friday while new crop November closed 31 cents higher. The Weekly Export Sales report showed another week of old crop cancellations of 5.9 Mil Bu. These are likely optional origin sales that were switched to Brazil due to a short-term decline in…