KeyAg Distributors

This Week's Hay Markets https://ow.ly/WU3v50SQ51q #foragefodder #completeforageprogram #keyagdistributors

Friday Market Watch - Livestock Complex Rounds Out the Week on Slightly Lower Tone; Wheat, Corn Extend Winning Streak; Soybeans, Soy Products Fail to Hold Early Gains Friday's market wasn't overly eventful as trades were somewhat checked out early for the week and mostly let the contracts either chop sideways or drift lower ahead of Friday's close. It was encouraging; however, to see that Northern cattle traded at mostly $288 which is fully steady with last week's weighted average. From Friday-to-Friday livestock futures scored the following changes: October live cattle up $2.47, December live cattle up $3.80; September feeder cattle up $7.60, October feeder cattle up $8.18; October lean hogs down $1.05, December lean hogs up $0.08. More: https://ow.ly/RpWP50Tnnp2 December corn closed up 7 1/4 cents per bushel at $4.13 1/4 and March corn was up 6 1/2 cents at $4.31 0/1. November soybeans closed down 4 1/2 cents at $10.06 1/4 and January soybeans were down 4 3/4 cents at $10.25 3/4. December KC wheat closed up 13 3/4 cents at $6.00 0/1, December Chicago wheat was up 16 1/4 cents at $5.95 3/4 and December Minneapolis wheat was up 13 3/4 cents at $6.35 3/4. For the Week: December corn finished up 7 cents to $4.13 1/4. November beans closed up 1 1/4 cents to settle at $10.06 1/4. December Chicago wheat closed up 27 3/4 cents for the week to $5.94 3/4. December KC wheat finished up 22 1/2 cents to $6.00. December Minneapolis wheat closed 21 3/4 cents higher for the week at $6.35 3/4. The September U.S. Dollar Index is trading down 0.276 at 101.075. October crude oil is down $0.32 per barrel at $68.65. The Dow Jones Industrial Average is up 297 points at 31,394 with the NASDAQ up 114 points at 17,684. December gold is up $30.40 at $2,611.00, December silver is up $0.91 at $31.02 and December copper is up $0.0245 at $4.2200. October heating oil is down $0.0319, October RBOB is up $0.0028 and October natural gas is down $0.051. It has been a good week for Class III futures with new contract highs in all months. Strong underlying cash prices supported futures with most of the gain seen in the barrel price. The September contract is mostly priced and will see limited price movement as the movement of spot prices will not have much impact on it. The tightening milk supply has increased the desire of buyers to purchase cheese and butter for filling contracts and for expected demand through the rest of the year. Milk production seems to have reached its low for the year and will slowly improve. The lower cow numbers will impact the gain in milk production seen during the rest of the year. Class IV milk futures were higher in most months but did not make new contract highs in all contracts this week. The butter price was the limiting factor for Class IV futures. More: https://ow.ly/9chH50Tnn3C https://ow.ly/v3cc50Tnn3B #dashboardreport #excellallnatural #excellsb

Friday Midday Markets - Trader Interest Falls Short of Supporting the Livestock Complex; Corn, Wheat Futures Higher; Soybeans Lower Even though the Dow Jones is up over 300 points, the livestock complex is trading mostly lower into Friday's noon hour as traders seem eager for the weekend. Some Northern dressed cattle sales have been reported 288 which is steady with last week's weighted average. More: https://ow.ly/Xv9I50Tnfp1 Corn futures are 3 to 4 cents higher at midday with trade pushing back toward the top of the range with firmer spread action and trade just a bit off the highs with positive spillover from wheat. On the report, yield came in at 183.6 bushels per acre (bpa) versus 183.1 bpa last month, but carryout eased to 2.057 billion bushels (bb) from 2.073 bb on better demand with world stocks edging lower. Soybean futures are 2 to 3 cents lower with early gains fading as product values slip and harvest pressure expands going into the weekend. Meal is 2.00 to 3.00 lower and oil is 5 to 15 points lower. On the report, yield was unchanged at 53.2 bpa with carryout falling 10 million bushels (mb) to 550 mb with stocks slightly higher. Wheat futures are 7 to 13 cents higher with KC trade pushing back to the $6.00 area on the front month before fading a bit with cargo attacks in the Black Sea area helping us test and consolidate the upper end of the range. On the report, carryout was unchanged at 828 mb with world stocks edging slightly higher. DOW JONES: 339 Points Higher NASDAQ: 139 Points Higher CRUDE OIL: $0.38 Lower The block cheese price slipped by 0.50 cents closing at $2.2750 with three loads traded. The barrel cheese price jumped 5 cents closing at $2.4850 with no loads traded. Barrels moved back to the highest price since November 5, 2020. There were two unfilled bids for loads of barrels with one uncovered offer at the close of spot trading. No bids or offers were remaining for blocks. The dry whey price increased 1.50 cents closing at 60.50 cents with three loads traded. Class III futures are 6 cents lower to 19 cents higher. The butter price increased 4.50 cents closing at $3.13 with no loads traded. This would suggest further upside is possible. More: https://ow.ly/ZH3150Tnfp3 https://ow.ly/7gXC50Tnfp0 #dashboardreport #excelleratorallnatural #livestockshowsupplement #stockshowanimalsupplements #showanimalsupplements #showsupplements

FRIDAY OPENING CALLS: Class III Milk Futures: Mixed Class IV Milk Futures: Mixed Butter Futures: Mixed More: https://ow.ly/Amou50TmRy8 Corn Futures: 3 to 5 Higher Soybean Futures: 2 to 4 Higher Soybean Meal Futures: $1 to $2 Higher Wheat Futures: 8 to 10 Higher Cattle: Steady Futures: Mixed Live Equiv: $225.63 +$0.17 Hogs: Lower Futures: Mixed Lean Equiv: $100.29 +$1.27 More: https://ow.ly/xv5h50TmRye https://ow.ly/SCyi50TmRyc #dashboardreport #forage #seed #doublecropping

Thursday Market Watch - Cattle Futures Firm Following Report Release; Corn Futures Dip on Record WASDE Report Yield but Recover; Soybeans and Products Finish Firm on Neutral Report Triple-digit gains quickly flooded through the cattle complex as traders focusing on previous market shifts quickly and aggressively became active buyers Thursday. Momentum seen in nearby live cattle and feeder cattle contracts are a combination limited support from Thursday's WASDE report and a renewed late day shift in outside financial markets. October feeder cattle futures became the shining star of the livestock complex Thursday afternoon, leading the market higher with gains of $2.25 per cwt. All nearby cattle trade posted triple digit gains Thursday, which is creating some underlying hope that renewed support will continue to develop through the end of the week. Hog futures remained under pressure Thursday, as traders continue to search for support levels during early September. More: https://ow.ly/OOZJ50Tmsqn December corn closed up 1 1/4 cents per bushel at $4.06 and March corn was up 1 cent at $4.25 1/2. November soybeans closed up 10 1/4 cents at $10.11 3/4 and January soybeans were up 10 1/2 cents at $10.30 1/2. December KC wheat closed down 2 cents at $5.86 1/4, December Chicago wheat was down 3/4 cent at $5.79 1/2 and December Minneapolis wheat was up 5 1/4 cents at $6.22 3/4. The September U.S. Dollar Index is trading down 0.303 at 101.355. The Dow Jones Industrial Average is up 183.13 points at 41,044.84. December gold is up $40.80 at $2,583.20, December silver is up $1.18 at $30.11 and December copper is up $0.0550 at $4.1970. October crude oil is up $1.66 at $68.97, October heating oil is up $0.0273, October RBOB is up $0.0309 and October natural gas is up $0.086. The USDA released the World Agricultural Supply and Demand Report. They reduced their expectation of milk production this year to 225.9 billion pounds, down 400 million from the previous report. Milk production for 2025 was reduced by 300 million pounds to 227.9 billion pounds. Exports on a fat basis rose by 100 million pounds to 11.6 billion pounds but were left unchanged for the next year at 11.3 billion pounds. Exports on a skim-solids basis were raised by 100 million to 48.9 billion pounds and were reduced by 300 million pounds for 2025 at 49.8 billion pounds. The average Class III price was raised this year by $1.05 to $19.45 per cwt. The average price for 2025 was raised by $0.95 to $19.60 per cwt. The Class IV average price was raised this year to $21.00, up $0.29 from the previous estimate. The price for 2025 was raised by $0.25 to an average of $21.20. The All-milk price increased by $0.75 to an average of $23.05 while the price for next year is estimated at $23.45, up $0.70. More: https://ow.ly/LQYi50Tmsqq https://ow.ly/XlM550Tmsqp #dashboardreport #forage #seed #doublecropping

Fluid Milk and Cream - Western U.S. Report 37 https://ow.ly/fweX50Tm9Mv #fluidmilk #dynasile #organicforage #silage

Thursday Midday Markets - Cattle Find Support While Hogs Regress; Soybean, Wheat Futures Higher; Corn Mixed It is a mixed day for the livestock complex as the cattle contracts are trading moderately higher but the lean hog complex is chopping sideways. The cash cattle market still hasn't seen packer interest improve much, but that could change Thursday afternoon. More: https://ow.ly/KFqc50Tmkag Corn futures are narrowly mixed with early strength fading as we head toward the report as positions get squared ahead of it. On the report, traders are looking for yield at 182.5 bushels per acre (bpa) versus 183.1 bpa last month with domestic carryout at 2.012 billion bushels (bb) versus 2.073 bb last month. Soybean futures are 6 to 8 cents higher at midday with trade staying in the recent range ahead of the report. Meal is 1.00 to 2.00 higher and oil is 65 to 75 points higher. On the report, traders are looking for yields at 53.3 bpa versus 53.2 bpa last month and carryout at 561 million bushels (mb) versus 560 mb last month. Warmer weather should continue to push maturity in much of the belt with early harvest likely to ramp up quickly into the second half of the month, depending on rains next week. Better rains have entered the second week forecast for part of Brazil. Wheat futures are 3 to 7 cents higher ahead of the report with trade pressing into fresh highs for the move on KC with solid spread action pre-report and action just off session highs. On the report, traders are looking for carryout at 820 mb versus 828 mb last month. Northern Hemisphere harvest should continue to wind down. Early Plains wheat drilling is underway with some wetter conditions expected into midmonth to potentially support emergence. DOW JONES: 134 Points Higher NASDAQ: 132 Points Higher CRUDE OIL: $1.79 Higher The block cheese price declined 3.50 cents closing at $2.28 with four loads traded. The price initially declined to $2.27 before buyer interest reduced the loss. The barrel cheese price increased 5 cents closing at $2.4350 with two loads traded. The price divergence was surprising as price declines have been limited over the past few weeks. The dry whey price remained unchanged at 59 cents with one load traded. Class III futures are 25 cents lower to 2 cents higher. The only gain is seen in the September contract. It is mostly priced and adjusted to the weekly AMS prices. The butter price fell 9 cents closing at $3.0850 with 12 loads traded. This is the lowest price since July 23. More: https://ow.ly/IcHF50Tmkab https://ow.ly/M58150Tmka8 #dashboardreport #excellallnatural #weaning #preconditioning

This Week's Drought Summary (9/12) https://ow.ly/WSw950TlZGj #droughtmonitor #dashboardreport #excellallnatural #excellsb

THURSDAY OPENING CALLS: Class III Milk Futures: 10 to 15 Lower Class IV Milk Futures: 4 to 8 Lower Butter Futures: Mixed More: https://ow.ly/VlOZ50TlYPU Corn Futures: 3 to 4 Higher Soybean Futures: 7 to 8 Higher Soybean Meal Futures: $2 to $3 Higher Wheat Futures: 6 to 8 Higher Cattle: Lower Futures: Mixed Live Equiv: $225.46 -$0.98 Hogs: Lower Futures: Lower Lean Equiv: $99.02 -$1.89 More: https://ow.ly/82jW50TlYPT https://ow.ly/yix250TlYPV #dashboardreport #excelleratorallnatural #livestockshowsupplement #stockshowanimalsupplements #showanimalsupplements #showsupplements

Wednesday Market Watch - Once the Equity Markets Improved the Cattle Complex Rebounded; Soybeans, Wheat Firmer in Quiet Pre-Report Trade; Corn Little Changed It was a back-and-forth day for the cattle complex, but thankfully by the day's end the market closed higher. A few cash cattle sales were reported in Kansas, but overall, the market has yet to trade. More: https://ow.ly/ATkX50TlxXe December corn closed up 1/2 cent per bushel at $4.05 3/4 and March corn was up 1/4 cent at $4.24 1/2. November soybeans closed up 3 1/4 cents at $10.01 1/2 and January soybeans were up 3 3/4 cents at $10.19 0/1. December KC wheat closed up 4 1/4 cents at $5.88 1/4, December Chicago wheat was up 5 cents at $5.79 1/4 and December Minneapolis wheat was up 7 1/2 cents at $6.18 1/2. The September U.S. Dollar Index is trading up 0.047 at 101.645. The Dow Jones Industrial Average is down 101.81 points at 40,635.15. December gold is down $2.70 at $2,540.40, December silver is up $0.32 at $28.93 and December copper is up $0.0605 at $4.1585. October crude oil is up $1.54 at $67.29, October heating oil is up $0.0347, October RBOB is up $0.0289 and October natural gas is up $0.039. Traders anticipated higher cheese prices this morning, but after they materialized pressure was put on Class III futures. The market had been overdone to the upside earlier this week and now it is correcting. The close was not very negative, but continued trading after futures were settled for the day showed substantial pressure with the November contract down as much as 42 cents. Further pressure may be seen during overnight trade. Class IV futures showed some pressure even though the butter price remained steady and nonfat dry milk increased slightly. The level of market volatility will remain high. Milk production is reportedly lighter, but the declines are less pronounced. Some areas report milk production is beginning to stabilize. Demand for Class I price is strong, reducing the milk available for manufacturing. The USDA will release the World Agricultural Supply and Demand report on Thursday. The report will impact the grain markets as adjustments are made to the supply and demand tables. The report contains the estimates for milk production, milk prices, and dairy product prices for this year and 2025. More: https://ow.ly/8HFa50TlxXh https://ow.ly/QlFK50TlxXg #dashboardreport https://ow.ly/QlFK50TlxXg #excelleratorallnatural #livestockshowsupplement #stockshowanimalsupplements #showanimalsupplements #showsupplements