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Seeding Rural Resilience Act Will Help Farmers and Ranchers

Seeding Rural Resilience Act Will Help Farmers and Ranchers

The American Farm Bureau Federation supports the Seeding Rural Resilience Act sponsored by Sens. Jon Tester (D-Mont.) and Chuck Grassley (R-Iowa), which is designed to help farmers respond to stress and decrease the stigma associated with mental health care in rural communities.

Market Closes - July 31, 2019
July 31, 2019
Market Closes - July 31, 2019

CBOT futures closed sharply lower as technical support levels were violated – especially in corn and wheat. The negative aspect of the US/China trade talks and relatively decent weather forecasts weighed on the market.  Cattle futures closed lower for a second day as traders liquidate long positions given a lack of friendly fundamentals. Lean Hog futures fell sharply for the third consecutive day on continued long liquidation in light of the negative US/China trade talks. 

Market Closes - July 30, 2019
July 30, 2019
Market Closes - July 30, 2019

CBOT futures closed markedly lower with corn performing the worst. The China negotiations are not going well based on President Trump’s comments. Cattle futures were a mixed bag today as Live Cattle fell under pressure from yesterday’s negative chart action, but Feeder futures recovered strongly from negative early trade. Lean Hog futures closed sharply lower in follow-through selling to yesterday’s heavy losses.

Market Closes - July 29, 2019
July 29, 2019
Market Closes - July 29, 2019

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).

Market Closes - July 25, 2019
July 25, 2019
Market Closes - July 25, 2019

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.

2019 Young Farm Outing Program
July 25, 2019
2019 Young Farm Outing Program
Market Closes - July 24, 2019
July 24, 2019
Market Closes - July 24, 2019

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.