World events certainly affect grain, and livestock markets all year long, but as we move deeper into July, weather takes more of a spotlight for both. Markets back open today after the holiday.
We hope it was a great weekend for family and friends. We mentioned in a report last week that December corn historically reaches a top 10 to 15 days prior to the 4th of July, or 10 to 15 days after. Last week’s hot, mostly dry weather across a wide area was certainly noticed by the trade.
Lots of numbers last Tuesday ahead of the holiday break. We think they’ll be paying a lot of attention to this afternoon’s weekly crop progress reports, and we would expect conditions to be no better than steady of last week. This is the Bottom-Line report.
Livestock producers transport cattle and hogs early in the day and weather this time of year. Feedlot cattle daily rates of gain also reduced.
Audio Reporting by Mark Oppold for Southeast AgNet.