CBOT futures are little changed at midday. Prices rallied strongly at the 830 am opening but have sold off in the last hour. The US dollar is up strongly on China’s move to boost its economy with lower interest rates and the EU’s stimulus program.

Cattle futures are slightly higher as traders remain optimistic that cash prices will hold near these record highs. Midday boxed beef values are near steady. Deferred LC futures are hitting contract highs. COF report is out this afternoon.

Lean Hog futures are weaker as pork values continue to slide. Fob Plant Pork is down .74 at 92.88/cwt. December LH futures have not traded below yesterday’s lows.

Corn Dec +2 376; May +2 397; Dec +2 418 Bean Jan +1 1021; May unch 1035; Nov +1 1006 Meal -1 370 Oil +9 3276 Wheat Dec +3 550; Jly +3 567 KC +1 604; MGE unch 584 Oats +2 328 Rice -3 1255

LC Dec +27 17052; Feb +37 17220; Jun+70 16270 FC Jan +57 23615; Mar +37 23410; May +57 23412 LH Dec -45 9032; Feb -50 9040; Apr +5 9280 Milk Dec +6 1875; Jan +11 1735

US$ +.6%

Dow +.6% SP +.5% NAS +.4% Tran +.8% VIX +1% 13.71

WTI -.1% Brent +.2% Gas +.1% NG -4% HO -.3% Eth +3.8% Gold +.2% Slvr +1%

5-yr -.006 1.616% 10yr -.013 2.320% 30yr -.019 3.034%

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