Reviewing our list of 48 commodities that we track each day here at the Bottomline Report, grains and livestock switched positions as the month of July came to a close. During the month, the only grain ending in the red, as a matter of fact, was oats, down nearly 4%. Extended hot, dry weather helping soybeans gain 5% for the month, corn gaining 5.5%, while wheat rebounded from harvest lows and was up 8.5% when the month ended.
Now, conversely, live cattle and feeder cattle had been riding the tight number scenario all year, but as the month ended, feeder cattle lost 4% when all was said and done during the month of July, live cattle down 5%. This is the Bottom-Line Report. Tomorrow, we’ll review our list of 48 commodities year-to-date, looking back at New Year’s, with seven months now in the books.
Audio Reporting by Mark Oppold for Southeast AgNet.