Uncover the Insights of Closing Grain and Livestock Futures
Cattle/Beef
February live cattle closed at $187.92, experiencing a decline of 70 cents. This shows the fluctuations in the cattle market and its impact on the beef industry. The continuous monitoring of such prices is crucial for stakeholders in the livestock sector.
January feeder cattle closed at $256.85, with a decrease of $2.62. These changes in feeder cattle prices can have a ripple effect on the overall cattle production and supply chain.
Commodities
Mar. corn closed at $4.32 and 1/2, down 1/2 cent. The movement in corn prices is significant as it is a staple in the agricultural market and affects various sectors such as food production and animal feed.
Jan. soybean meal closed at $287.90, down $4.00. Soybean meal is an essential component in livestock feed, and its price fluctuations can have a direct impact on the cost of raising livestock.
Jan. soybean oil closed at 41.42, down 32 points. The soybean oil market also showed a downward trend, which can have implications for industries that use soybean oil as a raw material.
Crops
Mar. wheat closed at $5.47 and 1/4, down 3/4 cent. Wheat is one of the major crops, and its price movements are closely watched by farmers and traders alike. The stability of wheat prices is crucial for ensuring food security.
Dairy
Jan. Class III milk closed at $18.22, down 3 cents. The dairy market is highly sensitive to various factors, and even a small change in milk prices can have an impact on dairy farmers and the dairy industry as a whole.
Gold
Feb. gold closed at $2,666.60, down $20.40. Gold is a precious metal with its own set of market dynamics. The decline in gold prices can be influenced by various economic and geopolitical factors.
Grains/Oilseeds
Jan. soybeans closed at $9.85 and 1/4, down 4 and 1/4 cents. Soybeans are an important oilseed crop, and their price movements have a significant impact on the agricultural and food industries.
Hogs/Pork
Feb. lean hogs closed at $83.22, up $1.15. The hog market showed an upward trend, which can have implications for the pork industry and consumers.
Livestock
The overall performance of livestock futures, including live cattle and feeder cattle, reflects the dynamics of the livestock market. These price movements are influenced by factors such as supply and demand, weather conditions, and market sentiment.
Rice
Jan. rice closed at $15.29, up 7 and 1/2 cents. Rice is a staple food in many parts of the world, and its price stability is important for food security.