Briefing

Monthly Livestock Slaughter Monthly Livestock Slaughter Beef Production: 2,105.1M lbs (up 1% yr)Pork Production: 2,268.5M lbs (up 7% yr)Total Red Meat: 4,385.7M lbs (up 4% yr) Cattle Slaughter: 2.38M head (down 2% yr) Hog Slaughter: 10.50M head (up 5% yr) Cattle Avg Live Weight: 1,447 lbs (up 39 lbs yr)Hog…

EIA Natural Gas Storage: EIA Natural Gas Storage: 3,056 Bcf ↑ +32 Bcf on the week↓ −16 vs last year (−0.5%)↑ +183 vs 5yr average (+6.4%) Analysis  +32 Bcf for the week ending July 17, the smallest injection in four weeks, bringing total working gas to 3,056 Bcf. Injections have…

USDA Export Sales USDA Export Sales 🌽 Corn: 332,700 MT (▲6% wk | ▼44% 4wk avg)🌱 Soybeans: 56,400 MT (▼70% wk | ▼70% 4wk avg)🌾 Wheat: 290,000 MT (▲23% wk | ▼14% 4wk avg) Analysis  China booked another 1,006,000 MT of new crop soybeans, the second straight week over a…

Dairy Product Sales Dairy Product Sales 🧈 Butter: $1.64/lb (↓1.9¢)🧀 Cheddar: $1.49/lb (↓0.4¢)🥛 NDM: $1.64/lb (↓6.3¢)💧 Dry Whey: 65.3¢/lb (↑0.6¢) Analysis  The July 10 WASDE cut prices across the board and raised milk production to 236.6B lbs, but the cash market is still running ahead of those revisions. Cheddar has…

Ethanol Production Ethanol Production Production: 1.094 mb/dayWeekly Total: 7.658 mil bblStocks: 24.481 mil bblCorn Used: 108.96 vs 94.85 needed Analysis  Production snapped back to 1.094 million barrels per day for the week ending July 17, up 5.2% from the prior week and 1.5% above last year. Stocks edged up to…

EIA Weekly Energy Stocks EIA Weekly Energy Stocks Refinery Rate: 96.1% Crude Oil: 411.7 (up 2.0M wk, down 7.3M yr)Gasoline: 211.3 (up 0.8M wk, down 19.8M yr)Distillate: 109.6 (up 1.4M wk, down 0.3M yr)ULSD: 99.2 (up 0.8M wk, down 1.5M yr) Analysis  Crude added 2.0 million barrels this week, and…

USDA Crop Progress USDA Crop Progress Corn G/E to 67% Soybeans G/E rises to 66% Spring Wheat G/E drops to 53% Analysis  Spring wheat fell 5 points to 53% good to excellent, the biggest weekly slide of the season. Montana is at 25% and both Dakotas softened. Corn slipped a…

Grain Export Inspections USDA Grain Export Inspections Soybeans🫘: 10.910 mbu Corn🌽: 61.015 mbu Wheat🌾: 7.862 mbu Analysis  Corn held steady at 1.550M MT, nearly identical to the prior week, with top exports going to Mexico at 402K, Japan at 343K, South Korea at 213K. Beans dropped to 297K with an…

Commitment of Traders Commitment of Traders Net Positions 🌾 GRAINSCorn: +43,391Soybeans: +72,688Wheat: -36,798 🛢 ENERGIESCrude Oil: +86,383Nat Gas: -105,501RBOB: +68,951 📈 FINANCIALSE-Mini S&P: -353,965Nasdaq 100: -61,43710Y T-Note: -2,064,298 🐄 LIVESTOCKLive Cattle: +96,324Feeder Cattle: +9,880Lean Hogs: -30,438 🪙 METALSGold: +119,147Silver: +10,377Copper: +61,932 ☕ SOFTSCoffee: +24,967Sugar: -94,593Cocoa: -11,200 Analysis  Natural gas funds…

Weekly Livestock Slaughter USDA Weekly Livestock Slaughter 🐂 Cattle Slaughter Head: 525,000vs Last Week: −0.8%vs Year Ago: −7.4% 🐖 Hog Slaughter Head: 2,310,000vs Last Week: −2.3%vs Year Ago: −1.0% Analysis  525,000 cattle this week, down 7.4% from a year ago. Year to date slaughter is running 8.4% below last year’s…