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Markets

Oilseed markets higher on Wednesday morning

The grain markets are neutral while the oilseed markets are higher early Wednesday morning. The U.S. Dollar index is up another .12% to 98.05 as it inches back to the 12-year high it reached in March 2015. Previously, the dollar reached the 100-level in early 2003. This dollar strength is bearish for U.S. grain exports. The DJIA closed down 47 points Tuesday. FC Stone released their production estimates Tuesday, pegging corn yield at 165.0 total production at 13.291 billion bushels.

Markets

In the Cattle Markets: Fed cattle prices looking for seasonal low

Cash fed cattle prices bounced back some last week after declining more-or-less steadily since the first week of April. That week, the 5-Area weekly weighted average steer price (live basis) worked out to $167.57. Two weeks ago, the 5-Area steer price bottomed out at $145.48. That is a decline from spring high to summer low (tentatively, at least) of 13.2 percent.

Markets

Boxed Beef Report: Boxed beef prices fall

Choice boxed beef slipped on from Monday to Tuesday from $233.66 to $233.18. The 48-cent drop brought the 27-day average price to $239.03. Select boxed beef fell hard as well, dropping $1.16 to hit $227.95. The 27-day average price is now at $235.56.

Choice primal chuck saw the largest fall of the primal cuts, dropping $2.59 to hit $193.09. Choice primal round was close behind, falling $1.86. Choice primal loin increased $2.18 on Tuesday to hit $310.72.

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