Highlights as of 6/13 with Brad Kluver, CFS Swine Production Specialist:

Jun 13, 2023


Highlights as of 6/13 with Brad Kluver, CFS Swine Production Specialist:
Corn:
Nearby corn was under pressure a bit from concerns about slower demand for US corn. While July did climb as high as 6.25 on the day it settled out down 4-3/4 to 6.12-1/2. Otherwise, corn largely traded higher on concerns about this hot dry weather and declining crop conditions. September closed up 2-1/2 to 5.46 and December was up 2 to 5.51-1/4. July to September inverse narrowed a bit to 65-3/4 on the day. Corn is likely to be volatile as it’s heavily reliant on weather forecasts as of now. And today’s trade showed pretty wide swings above and below the closing prices. We did see basis numbers soften across the territory anywhere in the 5 to 15-cent range.
Meal:
Again basis remained largely quiet on the day, with posted values remaining unchanged. The rally in the crude market helped support the soy complex as well as improving demand for US soybeans in the export market with Brazil switching to corn offerings more for export. We are entering annual maintenance times for processors now and that will cause some fluctuations in basis. CHS Fairmont will be down for maintenance from 6/16 to 6/23. On the board, meal was relatively flat nearby but saw some strength in deferred months. July meal was up 0.10 to 397.50. It continues to struggle to stay above 400 despite spending a chunk of the day trading above that. October was up 5.70 to 377.60 and December was up 6.90 to 377.20. Deferred months are seeing some strength tied back to concerns about crop-growing conditions as well.
Hogs:
After starting weaker on the day, hogs rebounded for the most part outside of June and July. June was down 0.05 to 87.125, July was down 1.00 to 90.60, October was up 0.30 to 78.30 and December was up 0.65 to 75.40. The index continues to march higher, gaining 0.45 to 84.73 on the day. Cash keeps on chugging as well, with 13,341 head traded today we saw the National Cash price climb 0.85 to 94.09. The cutout showed some strength again too. Bellies gained 7.43 to 94.17 and that helped the carcass cutout climb 1.32 to 89.52. We’ve struggled to get over the $90 threshold on the cutout thought and to keep any gains in bellies. Tomorrow could help push us over that threshold if we can keep the gains on the cutout we saw today. Load volume was higher than the average of late with 385.15 loads today. Sow slaughter continues clipping along but there’s still a ways to go to get through all the anticipated sow liquidation.

Read More News

Jun 04, 2024
Central Farm Service (CFS) is thrilled to welcome Mason Brown, a 2024 Blooming Prairie High School graduate, to our team. Mason joins us through the CFS Career Path Program, which offers cross-training opportunities and college tuition assistance, providing a fantastic start to a career in agriculture.
Jun 04, 2024
Today, we're thrilled to announce that the new 690,000 bu. bin in Randolph will be complete and bolted down! This impressive structure consists of 32 rings, marking another milestone in our commitment to serving you better. Stay tuned for more updates as we continue to enhance our facilities for your convenience! #Randolph #NewBin #Expansion #Milestone
Jun 04, 2024
The CFS Foundation is proud to announce a donation to the Maple River FFA! With matching funds from the Land O’Lakes Foundation, the total contribution comes to $1,000!