Financial
Mish mash trade in financials
Dow off a little and DAX up 1.2%
Crude $83.51
Gold $1599
ISM manufacturing weak at 49.7 from 53.5
May construction firm up .9 %?
French growth projected at just .4%
EU summit produces more promises to fight debt but little hard news
Talk of Fed stimulus is floating around again—but
Livestock
Sluggish cattle trade
Heat hampers weight gains and consumption
Boxed beef up $ .63
Futures premium to cash
Hogs highest since 3-15
Week’s pork needs covered by large slaughter
Hog and Pig report neutral
Grain and soybeans
Extreme heat and little general rain drive’s the markets
Chicagohas had the driest June in 84 years
Hot and dry pattern looks locked in for at least another 10 days
Deterioration in corn and soybeans with a fresh measure due
Intense rationing as we head toward our first survey estimate in August
Early breakouts in wheat, corn and beans
Largest corn planting since 1937 but drought trumps acres
Corn yields could drop to 152 bushels and beans to 42 off the present pattern
Argentine crops in good shape thus far
Indiawill export wheat to Asian countries for the first time in 7 years and watch long term production
French wheat at new all time high
Boxed beef looking seasonally toppy
Cash needs firmed boxed demand
Hog and Pig Quarterly neutral
Cash call steady to lower
Margins remain deep in the red
Week’s pork needed covered
Few more corn acres and more beans are not the story as temp’s fire up!
Breakouts in corn, beans and wheat
Argentine crops in good shape
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