The Office of the State Climatologist and the Kentucky Energy and Environment Cabinet, in coordination with the Kentucky Drought Mitigation Team, are issuing a Level 2 for 78 counties and a Level 1 drought declaration for 42 counties.
Kentucky celebrated farmers markets last week with Agriculture Commissioner Ryan Quarles recognizing the importance. Commissioner Quarles talks about the number of farmers markets in the state, where they are located, what they offer customers and how they impact each community.
CBOT futures closed steady to slightly higher, but near the day’s highs. There was little new in the market today as traders prepare for Monday’s USDA crop reports. Cattle futures closed mostly higher except for nearby feeder cattle. Lean hog futures closed strongly higher beyond the nearby August LH.
CBOT futures traded lower overnight but rallied throughout the day session even as the U.S. equity markets were falling lower and lower due to the escalation of the US/China trade dispute. Cattle futures closed variably higher after suffering sharply lower opening trade due to the sharp losses in equities and other commodity futures. Lean Hog futures closed extremely mixed with the August LH up 1.57 and the May20 LH down 2.97.
Grain futures followed the lead of the financial markets in dropping sharply as news broke that President Trump will place a new 10% tariff on $300 billion of Chinese products effective September 1. Live Cattle futures closed higher, recovering much of yesterday’s losses. LC ignored the negative news and price action in many other ag futures and the US financial markets. Lean Hog futures beyond the nearby August LH closed sharply lower, adding to yesterday’s limit-down losses.
New Kentucky Farm Bureau Executive Vice-President Drew Graham is off to a great start leading the state’s largest farm organization. Graham, who took over in October 2018, talks about the organization, the staff that leads Kentucky Farm Bureau, communicating with the membership and some of the major issues Farm Bureau is working on.
