The weather generally remained warmer than average through the report week, as much as 4° Fahrenheit above normal. The warmest temperatures were felt from Texas up through the Midwest, with heat and humidity moving east through the report week.
Improved corn condition ratings, a mostly favorable weather outlook, are macro-economic uncertainties kept the grain markets under pressure in the overnight session after they lifted Tuesday in part due to a rebound in the U.S and Chinese stock markets.
Live cattle prices increased over the weekend, jumping 32 cents from $143.03 to $143.35. The increase brought the 27-day average price to $148.22. Feeder cattle prices did not fare so well, dropping 93 cents to $208.75, bringing the 27-day average price to $216.03.
Lean hog prices dropped 15 cents over the weekend to $77.53. The 27-day average price now rests at $76.97.
Corn prices dropped 20 cents from Friday to Monday to $3.73. Wheat prices saw no change.