DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

Posted 08:38 -- After Friday's 8:30 a.m. CDT open, nearly the entire commodity board is red, worried about higher interest rates and slowing economies. Crop prices are no exception with December corn is down 15 1/2 cents and November soybeans are down 26 1/2 cents. December KC wheat is down 20 1/4 cents and December Minneapolis wheat is down 19 1/2 cents. November crude oil is down $4.18, near its lowest prices this year. Dow Jones futures are down 298 points and the U.S. Dollar Index is up 0.78, pushing its highest prices in 20 years. December gold is down $21.30.

Livestock

OMAHA (DTN) -- December live cattle are down $0.50 at $148.85, October feeder cattle are up $0.88 at $178.85, December lean hogs are down $0.80 at $84.875, December corn is down 15 3/4 cents per bushel and December soybean meal is down $7.50. The Dow Jones Industrial Average is down 286.58 points. Following Thursday's lower close, both the live cattle and lean hog contracts are trending lower at Friday's start. The good news however is that with the corn market trending $0.15 to $0.16 lower at the day's start, the feeder cattle complex is trading higher. The cash cattle market may see a little bit of clean up trade develop throughout the day, but largely it's likely that the bulk of the week's trade is done with.