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How will closing the trading pits affect market performance?

CME Group's recent announcement regarding the scheduled July 2 closing of most futures trading pits has triggered a range of reactions. News stories have covered related issues such as displaced floor traders and the effect on membership or "seat" prices, but there has been little discussion about the impact of these closings on the performance of the agricultural futures markets used by farmdoc daily readers. This article examines three questions of interest to market participants.

Markets

Gasoline prices still rising

The average price for gasoline across the U.S. is now $2.36. Prices rose 10 cents over the last week to start March with the highest prices the U.S. has seen in a month and a half.

Markets

Packer margins in the black to close out February

Feedlot operators faced another week of negative margins to close out February, according to the Sterling Beef Profit Tracker. Feedlot margins declined nearly $45 last week, falling to negative $150 per head, a more than $430 difference per head compared to last year when feedlot margins were nearly $258 per head.

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