Pages Navigation Menu

North Mountain Ag Services

North Mountain Ag Comments

NORTH MOUNTAIN AG COMMENTS

July 9, 2018

 

  • Lean hog futures are under pressure from reports of over production in China along with concerns over US tariffs.  Fourth quarter futures continue to be at risk with domestic production projected to be above the historical average.

 

  • Corn futures have struggled as Asian demand has waned recently and US crop conditions are good to excellent in key areas.  Local PA basis has been softer, although we notice some regional mills have not updated their basis offerings this week.

 

  • Soybean delivered prices are under pressure as weather continues to point to potential high US yields in 2018.  Soybean meal continues to weaken, although at a slower pace than the rest of the soy complex.

 

  • Feeder cattle prices are currently trading 8% higher over last year, although the lack of opportunities to forward price at profitable levels would tend to indicate that the current strength is based on nearby availability.

 

  • Nearby milk futures are trading at $14.17 at the beginning of this week’s session.  Deferred contracts are showing very little strength, with 2019 offerings averaging $15.63.

 

  • Wheat quality will be watched very closely over the next month.  Current yield projections are pushing prices lower, with nearby wheat trading in a window around $5.06 per bushel.

 

As always, please call us for customized strategies that maximize your opportunities to protect and manage profit margin.

  • Brian Yingling  (717) 585-9772

Leave a Comment

Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.