Pages Navigation Menu

North Mountain Ag Services

North Mountain Ag Comments June 24, 2019

NORTH MOUNTAIN AG COMMENTS

Lean hog futures are under pressure as traders question whether short term US demand for fresh pork will keep up with domestic supplies. With industry hopes of increased exports becoming dimmer as global eyes are on the middle east, we are viewing live hog prices in the fourth quarter of 2019 being vulnerable.

Corn field reports indicate that the crop is 2-3 weeks behind schedule in key US growing regions. While the coming weeks will determine the extent of yield impacts in key areas, it is fair to assume that earlier yield expectations will not be met this season.

Soybean values, despite adequate global supplies, have moderate support as US producers strive to catch up despite weather concerns. The unknown in the global market right now is what Asian animal feed demand will look like as this year’s crop progresses.

Feeder cattle prices have declined 3% this past week as buyers have reservations about fourth quarter feed prices. As yards are working on 6 month projections, grain prices will have a significant impact on the ample feeder supplies being put on feed. Live cattle futures continue to trend lower, and we expect new lows on the horizon.

Nearby milk futures are trading at $16.38 at the beginning of today’s session. Deferred contracts are sluggish.

Wheat is riding on the back of corn values, trending higher this past week.

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.