Daily market commentary

Daily market commentary
January 24th, 2022 | Rural Radio Network Staff

The market is in full risk off territory to start the week. Traders are wanting their money in safe haven assets as geo political tensions arise around the world. Spurred on by expected economic tightening in the US.

Outside equities are selling off sharply as Russia and Ukraine continue to ratchet up tensions. This comes as China continues to show aggression towards Taiwan and expected reunification with the mainland. The Federal Reserve is also set to meet early this week. Releasing their minutes on Wednesday. Analysts expect that the Fed may actually step up their taper on economic stimulus. While maintaining interest rate hikes to start in March.

In the grain complex rains were in Brazil and Argentina again over the weekend. Some area’s have actually reported localized flooding due to the recent rains. Big picture South America is getting rain just ahead of the second corn crop planting.

In the cash trade a light trade is developed on Tuesday and a slightly heavier trade on Wednesday. In the South cattle are trading at $137 live and in the North $218 dressed. Prices seem essentially steady with the previous week.

The Fed Cattle Exchange Auction Wednesday listed a total of 3,580 head, of which none actually sold, 159 were sFor The Fed Cattle Exchange Auction today listed a total of 2,904 head (TX 1,438 head, KS 987 head, IA 203 head, NE 120 head, OK 121 head, CA 35 head), all of which went unsold, as they did not meet the reserve prices, that ranged from $130 to $138.50. Opening prices ranged from $125 to $136.50, high bids ranged from $130 to $138.50. Another auction is scheduled for tomorrow.

For the week ending January 15, 2022, Imported Beef Passed for Entry in the U.S. totaled 50,726, 116.16% of the previous week and 111.57% of the 4-week average.

Daily Slaughter Estimates Thursday

Cattle

118,000 hd today 116,000 hd wk ago 121,000 hd yr ago

Hogs

475,000 hd today 457,000 hd wk ago 493,000 hd yr ago

Thursday midday carcass cutout

Beef

Choice dn 1.03 288.43

Select dn 0.38 279.34

C/S Spread 9.09

Loads 65

Pork

Carcass up 6.05 100.65

Bellies up 18.44

Loads 130

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

Share:

© 2022 Nebraska Rural Radio Association. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information