Live cattle prices saw a dip of $1.93 on Tuesday, hitting $130.25. The 27-day average price now rests at $135.20. Feeder cattle prices saw a 72-cent fall to $164.68 on Tuesday, bringing the 27-day average price to $182.24.
Throughout the United States retail diesel prices dropped an average of four cents this week to hit $2.45. The highest drop in the country was in the Midwest region, where prices fell five cents to hit $2.44. The lowest fall was one cent in the Rocky Mountain region. The highest prices are in the West Coast region at $2.65, while the lowest are in the Midwest at $2.44.
Chicago wheat futures edged lower on Tuesday, giving up some of last session's gains, as a further improvement in the condition of the U.S. winter crop put attention back on ample global supply of the staple cereal.
Live hog prices fell below $40 per hundredweight last week. This means hog prices are at their lowest level since November of 2009 when the U.S. was just beginning to pull off the bottom of the great recession. The source of the current downturn in prices seems to have components from both supply and demand.
Live cattle prices saw a slight dip of 20 cents on Friday to hit $129.70. The 27-day average price now rests at $135.44. Feeder cattle prices jumped from $162.45 on Thursday to $163.65 on Friday, bringing the 27-day average price to $184.22.
Lean hog prices also saw a big jump of $2.05 to hit $57.45, bringing the 27-day average price to $59.25.
Corn and wheat prices both dipped one and two cents respectively.
The grain markets were lower ahead of a short holiday week and after Mauricio Marci, the former mayor of Buenos Aires and farmer friendly candidate, was elected Argentina's new president on Sunday, ousting the ruling party by a less than 3% margin.
Corn futures were quiet Friday morning ahead of a slow holiday week, down 1 and just 7 cents from the low. Better than expected corn export sales Thursday weren’t enough to lift a market weighed by a world awash in corn and exports that remain behind pace.
International and U.S. upstream oil companies wrote down $38 billion in assets in the third quarter of 2015, the largest for any quarter since at least 2008 for this set of 46 companies (Figure 1). Low oil prices continue to have a significant effect on the value of companies' assets and future prospects as well as on current revenue.