06/05/2025
Subject: South Korea is in for corn, will this turn the market higher like last time? Weekly bean sales continue to dwindle, product sales cool off too.
Time Sent: 06/05/2025 10:30 AM
________________________________________
THE NEWS INFORMATION FOR TODAYS MARKET UPDATE IS BROUGHT TO YOU BY THE QT NEWS STAFF. QT NEWS IS YOUR ONLY REAL-TIME NEWS SOURCE WITHIN THE MARKETPLACE TODAY.
-- Overnight, the corn market was quietly steady/better, finishing 1-3 cents higher by the biscuit break. Early news is mostly of the export variety. The weekly report was ‘just okay’, barely clearing the 1 million metric ton (mmt) bar despite some pre-announced business.
-- Overnight grain markets were mixed with wheat and corn firmer and the soy complex weaker. July beans are 3 cents lower while the new crop November futures are off by 2 cents.
-- In the product trade, oil and meal are both slightly lower to start the day. A negative influence from a weaker global veg oil trade is somewhat offset by a recovery in the heating oil market. Export sales of meal and oil were down from their recent volumes.
*****AgCenter Cattle Market Report & Analysis
THE MARKETS
-- Finding a price point in the north will be the first order of business for the balance of the week. Few sales in the north have not defined a market. The first indications of cash prices this week were in Texas where the online exchange featured live sales from $124-$126 — $2-3 higher. This stimulated a race to buy ending with larger volumes of cattle trading in the south, both in Kansas and Texas at $228 — $5 higher than last week.
-- This past week’s slaughter is one of the smallest Memorial Day week slaughter on record, if not the smallest. Packers faced with declining supplies of fed cattle pulled down the slaughter number to 477,000 — 93,000 under last week and down 62,000 from last year’s holiday week. There is a widespread feeling within the industry and futures traders that the most recent surge in cattle prices is not sustainable. These price increases in live cattle will not immediately be felt in the grocery store or restaurant menus but as pricing decisions occur in the next few weeks, more definition regarding the impact to consumer spending will be tested.
-- CATTLE FUTURES. Futures are having a difficult time of keeping up with the rise in cash prices. For futures to rise $2 when cash jumps $5, the discount increases by $3. The battle between the reality that exists in the cash markets and the doubt expressed in the futures market is not over. Futures prices currently are selling $10 under sales this week in the south and maybe double that number when the week has concluded with sales in the north.
-- The discount in the deferred contracts is pricing in a plant closure. No one knows what plant will close, or the size of the plant, or when it will close. When a plant does close, it will allow packers to reduce the red ink that has been spilling most of this year. Live cattle operators will lose some of the benefit of too much processing capacity and the losses at the plants that subsidized gains in margin at the feedlot level.
**CHECK OUT THE ELANCO PENPOINT MARKET PLATFORM AND ALL ITS DIVERSE AND EASY TO USE CAPABILITIES. CONTACT ME AND I CAN GET YOU FULL ACCESS TO THE PLATFORM AND MOBILE APP FOR A 14 DAY FREE TRIAL TO ACCESS THE BEST DATA/INFORMATION APP/PLATFORM WITHIN THE MARKETPLACE TODAY. GET ACCESS TO THE BEST COMMODITES/CHARTING AND NEWS PLATFORM TODAY ALONG WITH FULL ACCESS TO THE GRAIN BID DIRECTORY WITHIN DESKTOP/TABLET OR MOBILE AS WELL.
LET US SHOW YOU FIRSTHAND, THE POWER OF THE PENPOINT MARKET PLATFORM!!!!
https://farmanimal.elanco.com/us/beef/penpoint-market
Contact Dave @ [email protected] or [email protected] and I can get a free 14 day trial setup for you to compare it with your Data platform you are using.
Have A Great Day
Dave Cameron
QT Information Systems
[email protected]
[email protected]
The information transmitted, including attachments, is intended only for the person(s) or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and destroy any copies of this information.
If you'd like to unsubscribe and stop receiving these emails click here.