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Emergency measures in CME cattle futures market bring support

Rarely used emergency measures to ease volatility in livestock futures provided support for the market on their first day of implementation on Thursday, making it unlikely the Chicago Mercantile Exchange will continue to use them as it was forced to do a decade ago, the last time it took such steps.


Vilsack abandoning duplicative beef checkoff proposal

In the waning hours before Santa comes to town, U.S. Secretary of Agriculture Tom Vilsack is doing what he can to stay off the dreaded naughty list by announcing he will abandon recent efforts to create another beef checkoff under the 1996 general commodity checkoff law.


Crop markers proved surprisingly weak Thursday night

Corn bulls may be taking profits before the weekend. Despite continued equity market strength and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets turned decidedly lower Thursday night. Corn futures followed wheat lower, thereby seeming to reflect bullish profit-taking in the wake of this week’s gains. March corn futures dropped 6.0 cents to $4.05/bushel early Friday morning, while July lost 6.0 to $4.2025.


Ag markets moved almost universally higher Thursday

Corn futures backed away from early Thursday highs. Surging equity markets reflect renewed optimism about the global economic & political outlook, which in turn seems bullish for grain demand prospects. Corn futures rallied significantly in early morning action, but slumped in the wake of the mediocre result on the weekly USDA Export Sales report. March corn futures close 2.75 cents higher at $4.11/bushel Thursday, while July added 3.0 to $4.2625.


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