Monday, July 23, 2018 7:34AM CDT
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.3 million head on July 1, 2018, 4% above July 1, 2017, USDA reported on Friday. All cattle and calves in the United States on July 1, 2018, totaled 103 million head, 1% above the 102 million head on July 1, 2017.
Monday, July 23, 2018 7:27AM CDT
The 2018-19 ending stocks-to-use ratio for world wheat at 35% is among the highest on record. DTN Contributing Analyst Joel Karlin reminded us this week that for wheat, it's not the best way to keep score.
December corn was up 1 1/4 cents, November soybeans were up 3/4 cent, and September Kansas City (HRW) wheat was up 3 1/4 cents.
The cattle complex should open at least moderately higher, supported by higher feedlot sales on Friday and general short covering. On the other hand, lean futures are likely to open under pressure tied to struggling carcass value and increasing pork production.