Daily market commentary

Daily market commentary
February 15th, 2022 | Rural Radio Network Staff

Volatility dominated the markets last week and it appears we may be in for another week of roller coaster price action across the broader market complex. Early on in the Monday trade we have seen the VIX volatility index (an index measuring the put options being bought against the S&P 500) jump to a multi week high of 32. By the opening bell the VIX had dropped back closer to 29-30, but still showed that money was wanting to buy down side protection in the stock market.

Geo politics continue to dominate headlines and cause some knee jerk reactions to the latest updates in the trade. There seems to be plenty of story lines that support and discredit the possibility of Russian invasion in Ukraine. Arlan Suderman highlighted in his commentary that knee jerk reactions to the headlines likely won’t stop though until the situation is resolved, “The ebb and flow of market emotions will likely continue with each passing headline until either this crisis plays out, or until it has been diffused.”

In the grain complex the market is under pressure to start the week. After a week of strong sales for new crop soybeans and other grains the USDA sales terminal was silent on Monday. Looking to South America soybean harvest is rolling right along. In Mato Grasso nearly 60% of the soybean harvest is done and most analysts report that yields are average and pretty good in general. However more drought stricken area’s are just starting to get into harvest with  just over 20% harvested in Mato Grosso do Sul and in Parana and 1% in Rio Grande do Sul. As the combines start to roll in that area it’s likely that poorer yields will start to become more evident.

As for global demand export shipments were pretty good on Monday. Corn and soybeans were both over a million metric tons and up from the previous week. Year to date though corn is 2.9 MMT tons back and soybeans are nearly 12 MMT back of the previous years export pace. Soybeans though continue to be about 3% ahead of the seasonal pace needed to hit USDA’s export goals.

In the country a bulk of the cash trade took place on Wednesday and Thursday. Southern live deals had a full range of $138 to mostly $140, generally steady with the prior week’s weighted averages. Northern dressed trade had a full range of $222 to $227, mostly $224, $2 higher than the previous week

For the week ending February 02, 2022, Imported Beef Passed for Entry in the U.S. totaled 47,687, 94.68% of the previous week and 96.59% of the 4-week average.

Daily Slaughter Estimates Monday


121,000 hd today 121,000 hd wk ago 77,000 hd yr ago


470,000 hd today 481,000 hd wk ago 405,000 hd yr ago

Tuesday midday carcass cutout


Choice dn 2.63 271.33

Select up 1.14 269.89

C/S Spread 1.44

Loads 99


Carcass up 2.13 110.11

Bellies up 5.22 201.87

Loads 170

Daily Broker Commentary

Pre-opening grains with Mark Gold of Top Third Ag Marketing

Pre-opening livestock with Jerry Stowell of Country Futures

Midday market commentary with Mike Zuzolo of Global Commodity Analytics

Closing grain commentary with John Payne Daniels Ag Marketing

Closing market commentary with Jack Fenske with York Commodities


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