Mostly bearish outside markets, talk of Chinese soybean purchase cancellations, fund selling and the general desire to lower risks through the weekend are all weighing on commodity futures.  Treasury rates are down as money moves to safety.

  CBOT contracts are at/near the day’s lows.  Soybean futures have broken chart support, as have December 2013 Corn and old-crop CBOT Wheat.  Old-crop Corn futures are still holding above Tuesday’s lows with September lows another nickel below that.

  Cattle and hog futures are trading narrowly mixed.  Bearish outside markets and weakened demand ahead of Thanksgiving are limiting gains.

  Cattle on Feed Report comes out this afternoon.  On-feed should be down over 5% from a year ago.

Corn Dec -6.5 715; Mar -6.5 718; Dec’13 -4 603

Bean Jan -25 1377; Mar -23 1361; Nov -11 1260 Meal Dec -8 423; Oct -2 359   Oil -71 4675

Wheat Dec -14 831; Jly -15 839   KC -16 870; MGE -13 907

LC Dec +7 12567; Apr -12 13322 FC Jan +2 14517; Apr +32 14975

LH Dec +10 8017; Apr -10 9105

Milk Dec +10 1907; Jan +15 1869

Oats -3 361

Rice -5 1481 

US$ +.5%

Dow -.5%

SP -.7%

NAS -.8%

Tran -.9%

VIX +2.7% 18.47

WTI +1%

Brent +.3%

Gas +.2%

NG +1.7%

HO -.5%

Eth -.7%

Gold -.1%

Slvr -1.5%

5-yr -.019 0.602% 10yr -.032 1.562% 30yr -.029 2.703% 

Nevil Speer, Western KY University, has an article in BEEF Magazine on cull cow marketing. http://beefmagazine.com/print/markets/industry-glance-cull-market-continues-surge