Market and Industry News
Stay up to date with this week's industry news and market highlights. Also, learn more about what we're up to at Stockguard.
What's new this week?
- After building momentum earlier in the week, the live cattle market experienced a downtrend last week. On Friday, December live cattle closed at $169.27. This week, we saw prices jump on Tuesday. However, on Wednesday, December cattle prices dropped significantly, closing at about $163, down by about $5 from the previous day.
- Meanwhile, feeder cattle prices dropped at the end of last week, with January feeders closing at $214.42 on Friday. Like the live cattle market, feeder prices climbed on Tuesday before dropping again on Wednesday. January feeders closed at approximately $210 on Wednesday.
- LMoving onto the grain market, corn prices rose through last week, with March corn closing at $4.84 on Friday. Earlier this week, the market remained strong on Monday and Tuesday before dipping slightly on Wednesday. March corn prices closed at about $4.84 on Wednesday.
- Finally, looking at soybeans, the market experienced a sharp price drop at the end of last week. On Friday, January soybeans were down by about $0.17 to close at $13.25. This week, prices have continued to decline, with January soybeans closing at about $12.94 on Wednesday.
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Market analysts predict higher prices in the near future
Dry conditions impact yield on edges of corn fields
Hybrid crops experienced good yields this year
Drought conditions cause more limited hay supply
Drought conditions over the summer have led to a tighter hay supply for Midwestern producers. While some producers decided to sell some cattle earlier this year due to the drought to reduce the stress on their feed supplies, experts have noted that reduced hay quality is also an emerging issue. Producers are urged to test hay and cornstalks to determine quality and how to supplement cattle diets.
Uncertain feed costs, extreme weather, interest rates, and limited cattle inventory are only a few causes of market volatility. Unexpected market price drops can negatively impact your bottom line and shrink your profits. But there are ways to manage risk and protect your operation.
Unfortunately, no one can predict exactly what tomorrow’s market may bring. With LRP from Stockguard, you can create a safety net for your investment. Lock in your minimum price guarantee, but rest assured that the ceiling remains open and you’ll benefit if the market is up when you’re ready to sell your herd. Learn more today at stockguard.io
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