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Did You See This? Allendale Research Center Subscribers Did!
Nebraska feeders sold cattle yesterday afternoon at 147 to 149 while the Texas market is still at a stand off. Bids in the south are 93 and asking prices are 95 to 97. It is expected that sales would be made if 94 was bid. Beef cutout values were mixed, choice down .53 and select up .61. Packer margin calculations are negative in excess of 5.00 per cwt. Futures are being supported by the strength in pork and sharply higher stock market. We expect rallies today will be met with resistance as cash markets feel heavy.
Soybean Exports Continue to Shine
Soybean export sales seem to be on fire. With old crop export sales at 12.5 million bushels and new crop export sales at 42 million it comes in well above the highest trade estimate going into today’s report as the trade was expecting the high end of combined export sales in the 38.6 million bushel range...This exports recap is prepared by Allendale Branch Manager Rich Mosier. Please contact Rich @888-439-3636 with any questions.
Allendale Monday Research Meeting Bits & Bytes
Listen in on bits and pieces of our weekly research meeting. New videos posted every Tuesday morning. If you would like more information or to discuss any topic further call us at 800-2MARKET (262-7538).