Beef stocks climbed more than average during September, largely because the previous month’s figure was revised down 15.1 million pounds. Sept. pork stocks dropped, whereas there is normally a small buildup in supplies.
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across the eastern half of Kansas, along with most of Texas and Oklahoma through January.
Corn futures are lower with soybeans firmer and wheat mixed to start the week. Cattle futures are mildly firmer and lean hog futures are choppy with seller interest limited...
Uncertainties included difficulties estimating the state of financial markets, potential oil price shocks and the impact of labor union strikes on the economy, among other factors.
Corn, soybeans and wheat firmed overnight on support from crude oil as it responded to a major geopolitical shock over the weekend when Hamas raided Israel.