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.
CBOT futures closed mostly higher but several cents below the day’s highs. Prices are generally moving sideways without significant market-moving news. Cattle futures closed lower today and near the day’s lows. Lean Hog futures closed sharply lower with October LH down the daily $3.00 limit (expanded limit tomorrow).
As it did yesterday, wheat futures outperformed corn and soybeans. Corn and beans lost about one percent and closed near the day’s lows. Cattle futures ended the day very narrowly mixed. Live cattle futures traded to new highs for the move before setting back some. Lean Hog futures closed lower with October and December LH losing around $2.00/cwt.
CBOT futures closed mixed with wheat posting the best gains. Corn and soybeans lack significant news or fundamental changes to drive prices. Cattle futures closed mostly higher with increases mostly 35 cents or less. Lean Hog futures closed narrowly mixed but August and October LH hit new highs for the current rally off June lows.
More than forty Kentucky Farm Bureau members were part of the Roadside Farm Market Tour that made stops in Eastern Kentucky and West Virginia in late June. Roadside Farm Market Advisory Committee Chairman David Chappell from Owen County talks about the tour, what people saw, what they learned and what he and others will take back to their operation.
