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Grain markets trade mixed Monday

The grain markets traded mixed Monday ahead of the USDA Stocks and Acreage reports tomorrow. After the trade had seen significant weather premiums in the last few weeks, if seemed as profit taking and long liquidation was the theme today. The average trade estimate for June 1, 2015 stocks is 4.557 billion bushels with a range of 4.35-4.7 billion bushels. The June 1, 2014 stocks number was 3.852 billion bushels. The weekly export inspections came in at 1.04 million tonnes, suggesting firmness in demand.

Markets

Boxed Beef Report: Beef prices down

Choice boxed beef prices fell a whopping $1.93 on Monday, hitting $252.60. The decrease brought the 27-day average price to $252.74. Select boxed beef saw a smaller drop from $249.68 on Friday to $249.34 on Monday. The 34-cent fall brought the 27-day average price to $244.90.

All cuts of choice primal meat saw decrease. Choice primal flank fell the hardest at $2.75 to hit $147.70. Chioce primal loin was close behind, falling $3.16 to $337.05. Choice prmail round saw the smallest fall from $230.93 on Friday to $230.05 on Monday.

Markets

Mexico sees TPP deal doubling agricultural exports to Japan

Mexico expects a finalized 12-nation Pacific trade deal to double the country's agricultural exports to Japan's mostly closed market, and the deal will likely be signed in the "next few weeks," a senior trade official said on Friday.

Markets

Morning Farm Report: Hogs up 80 cents, cattle down further Friday

Lean hog prices gained 80 cents and went to $75.45, which is their highest of the week. The 27-day average is $80.23. Cattle prices ended the week Friday with further decreases. Live cattle prices dropped 10 cents to $148.40. The 27-day average price is $152.38. Feeder cattle prices went down $1.80 to $217.25. The 27-day average price comes to $222.64.

Markets

Feeder Cattle Review: Demand remains good for calves and yearlings

Compared to last week, yearling feeder cattle sold mostly steady with spots 2.00 higher to 2.00 lower. Steer and heifer calves traded steady to 5.00 lower throughout auctions in the Midwest and the Southeast. Demand still remains very good for calves and yearlings as there were several special sales this week as on Wednesday in Bassett, NE held a special fall-born calf sale selling 4500 head of top quality calves with some of the bell ringers; near 400 head of steer calves weighing 550-600 lbs averaging 578 lbs selling with a weighted average price of 306.68 and near 800 head of their bigger brothers weighing 650-700 lbs averaging 662 lbs with a weighted average price of 274.07.

Markets

Grain markets trade higher Friday ahead of next week's Acreage, Grain Stocks reports

The grain markets traded substantially higher today ahead of the acreage and stocks reports next week. July corn tested a high of 3.90 today then set back. The last time nearby corn traded above that level was April 8th. The US Dollar index is up .30 to 95.49 and the DJIA was up 47 points to 17,937. July corn futures gained 8.5 cents to $3.85/bushel at the close Friday morning, while December was up 9.75 cents to $4.02.

Markets

Boxed Beef Report: Beef prices tumbling

Choice boxed beef prices fell on Friday to $254.53. The $1.31 drop brought the 27-day average price to $253.23. Select boxed beef fell from $251.51 to $249.68 on Friday, a $1.83 change that brought the 27-day average price to $245.01.

Choice primal rib saw a large drop Friday, falling $4.26 to hit $352.80. The 27-day average price now sits at $364.85. Choice primal loin and choice primal flank were the only two cuts that saw increases, of 11 cents and 50 cents.

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