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Crop markets close lower on Thursday
- HSUS ads deceive 90% of donors
- Texas dairyman puts animal health first
- Wheat posts biggest gain in 6 weeks on Wednesday
- CME to pare back plan for expanded grain trading
- Milk Mustache campaign gets Spanish makeover
- D.C. Watch: Work continues on farm bill
- Cattle futures climb at midday on improved demand
- Vilsack highlights importance of ag education and research
- Milk production continues robust expansion while prices soften
- Block cheese unchanged at $1.50 on CME
- Death of 3-year-old serves as reminder for better farm safety
- $1 to watch a video of farm animal abuse
- Calif. TV station investigates 'what’s in your milk'
- Co-ops start reacting to milk surplus
- Top 100 ag banks of 2011 posted
- Say 'yes' to Domino’s Pizza by paying it forward
- The latest on heat-treating colostrum
- Abused lawyers in parody of HSUS ad
- Don’t overlook zoonotic diseases
- Take her higher
- What you need to know about the latest case of BSE
- Mother warns against feeding raw milk to children
- Poll: Do you agree that dairy farming is the second worst job in America?
- Commentary: Obama’s going to tackle immigration? Yeah, right
- Domino’s Pizza says “no” to HSUS
- Commentary: Stand up for Dairy Security Act
- Stand up for Dairy Security Act
- Raw milk problems give dairy farmers a 'bad name,' says one
- Dairy group endorses Wisconsin governor in recall election
- New study blames dairy farms for much of LA’s smog
Corn futures closed lower on Thursday. The market was choppy following the relatively neutral USDA reports this morning, but fund selling weighed on prices into the close. USDA raised the corn export number by 50 million bushels and cut ending stocks by 45 million, but this was right on trade expectations. A smaller Argentine crop is expected to help boost U.S. export demand. March ended 5 1/2 cents lower at $6.37 and December was 5 1/2 cents lower at $5.68.
Soybean futures traded lower on Thursday. Spillover pressure from corn and wheat and technical selling weighed on the soybean market. USDA’s soybean report was neutral as U.S. supply/demand estimates were unchanged. Globally, USDA reduced its production forecast for Brazil by 2 million metric tons and Argentina by 2.5 mmt, but that was in line with trade expectations. March ended 4 cents lower at $12.27 1/2 and November was 1 1/2 cents lower at $12.38 1/2.
Wheat futures closed solidly lower on Thursday. The USDA reports were mixed for the market. USDA raised the forecast for U.S. exports by 25 million bushels and lowered ending stocks that amount. However, that was more than offset by bearish global revisions. USDA raised its world wheat ending stocks estimate by 3.1 million metric tons to a record 213.1 mmt. Traders were looking for USDA to lower world ending stocks slightly. CBOT March ended 14 3/4 cents lower at $6.46, KCBT March was 18 cents lower at $6.92 and MGE March fell 9 3/4 cents to close at $8.31 3/4.
Cattle futures closed lower on Thursday. Profit-taking and uncertainty about the cash market this week weighed on futures trade. Improved boxed beef prices and smaller showlists could support the cash market. However, with processing margins still well in the red, packers could choose to lower bids again and further slow slaughter. February ended 60 cents lower at $125.18 and April was 60 cents lower at $128.20.
Lean hog futures traded higher on Thursday. The gains today were attributed to short-covering and some outside market strength. Weakness in the dollar and strength in the stock market were supportive factors. However, gains were limited by weakness in pork prices and concerns that cash market trade could be lower on Friday. February ended $1.03 higher at $87.30 and April was 70 cents higher at $89.65.
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