Morning Comments 3/13/12 & Updates

12:35 update

Cattle helped by equities and energy markets are 270 points above Monday low

Boxed beef $.6 lower

Packer demand firms cash cattle?

Hams strong leads pork

Cattle plus pulls pork

Talk of 600,000 ofChinacorn buying from last Friday unconfirmed

Beans need to rally versus corn to attract cares

12:10 update

Dow 13,065 up 105

NASDAQ 3013 up 29

Crude oil $107.01 up $ .67

Gold $1700 steady

May beans up $.18 at $13.52

Corn steady

Wheat off $.3 at 46.47

Meats mark time cattle up $ .77 while hogs or about unchanged

10:40 update

240,000 tons of corn to unknown likelyChina

Ukrainewheat off 2 MT at 14 MT

Watch  S. Brazilian bean conditions

Cattle up $ .70 early and cash may exceed last week’s values, beginning perhaps today

NASDAQ over 3000 on tech strength

Crude pulls back $105.82 off $ .52




FOMC today no change in rates expected with a moderate growth


Retail sales up .6% in January the best since September


Business inventories expected to rise .5%


Dow up 50 at 13,008


Crude up $ .40 at $106.80


Gold off $12 at $1687


Dollar up to 80.46 42 better


DAX up .9%






Show lists unchanged in cattle


Cash offered at $130 up from $126


Choice beef off $1


Warm weather means cook outs


Gas guzzling money for meats


Pork cut out up $ .58 with loins $.8 better and hams up $2


Slaughter level with a week ago




Grain and soybeans


New high beans


Brazilian beans 49% harvested


“Oil World’ estimates 68 MT with USDA at 68.5 MT


Argentina 47 MT and corn and corn at 21.6 both unchanged


Chinese corn purchase rumor persists of 2-3 cargoes


Argentine port strike stalls 85 ships but that is down last week


Watch bean export sales to measure S. American competition


Corn plantings begin in the south


Midwest farmers await insurance OK to plant as it is awfully early


Informa’s 95.5 million acres corn estimate would bear down on new crop corn


Watch put options


Plains wheat in good shape with Nebraska 65% g-x versus 40% last year and Kansas 50% up from 25%




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