Despite recent moisture in some parts of the state this week, it remains very dry as producers try to get their crops in the ground. But are the markets concerned about the dryness?
Jeff Peterson, president of Heartland Farm Partners in Lincoln, said at this point in time, the market isn’t necessarily concerned about dry conditions. Instead, he suggested the markets are looking at planting progress right now, but concerns about drought might surface as the growing season continues.
In the livestock complexes this week, Kyle Bumsted said news of Smithfield closing 37 sow barns in Missouri put the lean hog market under intense pressure and the complex saw nearly a $10 swing in just one week.