Welcome to this week’s Nebraska Soybean Board Weekly Market Roundup!
In this episode, we’re joined by Alan Brugler, president of Brugler Marketing and Management LLC, and Kyle Bumsted to dive into the latest trends and movements in the grain and livestock markets for May.
Grain Market Update:
Corn and Wheat: Challenging week with significant daily losses, but corn ended the month slightly higher. Planting progress aligns with the five-year average, with few drought concerns. Export activity slowed due to mid-month price hikes.
Livestock Market Update:
Cattle: Fluctuations with August feeder cattle prices up overall, but recent weeks saw congestion and declines due to market reactions and plant suspensions in China. Feeder cattle experienced significant liquidation despite non-commercial fund activity.
Lean Hogs: Continued price declines throughout May, likely due to long liquidation by non-commercial funds. No clear sign of a reversal yet, although a recovery rally could occur.
What to Watch in June:
Grain Market: USDA’s first crop condition ratings and industrial reports on ethanol production and soybean crush.
Livestock Market: Potential sustained high demand for boxed beef amid economic concerns and shifts towards cheaper meats. Both live and feeder cattle markets might face further downside pressure.