U.S. livestock: Cattle futures post limit-down losses

Cattle futures on the Chicago Mercantile Alternate had been down by their every day limits on Wednesday, with speculative lengthy liquidation a function.

The December reside cattle contract misplaced 7.250 cents per pound at 220.525 cents. Feeder cattle had been down 9.250 cents within the January contract at 319.975 cents per pound.

U.S. Agriculture Secretary Brooke Rollins met together with her Mexican counterparts on Tuesday. Whereas the U.S. border stays closed to Mexican cattle for now, Rollins stated President Trump was centered on reopening it. Rollins additionally praised how Mexico was dealing with the New World Screwworm outbreak within the nation — the explanation behind the border closure.

U.S. grains: Soybean prices rise as China-U.S. truce assessed

Chicago soybean prices rose on Wednesday, recovering some of the previous session’s losses, as Beijing’s confirmation that it was cutting tariffs on U.S. farm goods put attention back on a trade truce between the countries.

The U.S. Division of Agriculture reported wholesale boxed beef costs had been blended, with selection packing containers up $0.68 at $378.26 per hundredweight and choose packing containers down $1.00 at $360.25/cwt.

The continuing shutdown of the US authorities remained a function within the background, with confusion over funds underneath SNAP (the Supplemental Diet Help Program) maintaining some warning within the markets.

Lean hog costs had been blended. The December contract was up 0.675 cents at 80.600 cents per pound.