Latest / AG Bull / AG Squawk AM 10/23/2026 with Jed Sidwell | Cattle on Feed Report Today

Transcript

AG Squawk AM 10/23/2026 with Jed Sidwell | Cattle on Feed Report Today · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:12
  SPEAKER_00: Jed Sidwell here, live from Juliet, Illinois.
• 0:15
  SPEAKER_00: Today to wrap up our week, we'll talk about some harvest progress things, heifer retention rates, and maybe some fossil fuel projects coming out of the White House.
• 0:25
  SPEAKER_00: Late to all of that and more here in a bit.
• 0:46
  SPEAKER_00: 231 and 13 there.
• 0:48
  SPEAKER_00: Feeder cattle came back down, though.
• 0:50
  SPEAKER_00: They were down$1.90 at$346.93.
• 0:53
  SPEAKER_00: Lean Hogs closed at$65.55, basically unchanged, down 18 cents.
• 1:00
  SPEAKER_00: As we quote the markets live here on the grain side of things, like to shout out our sponsor, plus 500.
• 1:06
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• 1:11
  SPEAKER_00: And as I look here, the December corn contract is at 459 and a half.
• 1:17
  SPEAKER_00: Soybeans are up just a little bit overnight.
• 1:19
  SPEAKER_00: They're at 1255 even.
• 1:21
  SPEAKER_00: And Chicago December wheat, they're up as well, just a tick at 6256.
• 1:29
  SPEAKER_00: The weather outlook for this weekend looks great for harvest progress, but outside of that, we are going to see significant rain arriving this weekend for the hard rest the western hard red wheat belt and feedlot areas and the far northwestern corn belt running into maybe mid midweek with the western hard red wheat areas the wettest and above normal amounts through maybe the next 15-day period.
• 1:56
  SPEAKER_00: The rest of the Midwest, though, the I states, they're looking fairly good for harvest continuation this weekend.
• 2:03
  SPEAKER_00: This was the grain market chart that I had, and I thought it made sense to bring on.
• 2:13
  SPEAKER_00: As you can see there, we're still sitting well able where we were at at 1.44% there, compared to the same time in over the five-year average, the middle of that kind of shaded area there, the dotted line is 53%.
• 2:30
  SPEAKER_00: We're sitting at 44, obviously, quite behind this year.
• 2:34
  SPEAKER_00: I'm interested to see when we get more data out.
• 2:37
  SPEAKER_00: Iowa was the culprit for maybe not having the most harvest progress done.
• 2:41
  SPEAKER_00: Not their fault though.
• 2:43
  SPEAKER_00: Weather-related problems there.
• 2:45
  SPEAKER_00: I'm interested to see if they catch back up with everyone else here on the next report.
• 2:50
  SPEAKER_00: This is beef heifers retained and heifers entering the cow herd.
• 2:54
  SPEAKER_00: And I figured I'd bring it up because the Catalon Feed Report comes out this afternoon.
• 2:59
  SPEAKER_00: There's a lot of things that we can look at there.
• 3:01
  SPEAKER_00: It's a quarterly report, so we break things down by steers and heifers on this one.
• 3:05
  SPEAKER_00: And so we finally get to see maybe if 2026 might have the indication of some herd growback.
• 3:11
  SPEAKER_00: We'll see.
• 3:12
  SPEAKER_00: Obviously, interest rates aren't there, but the past five years have been pretty decent on the cow calf side.
• 3:17
  SPEAKER_00: Maybe that's uh sent some signals to keep back a few heifers, and we're maybe finally seeing the results of a few of those heifers kept back.
• 3:27
  SPEAKER_00: This was the breaking news headline that I had this morning, and it's certainly an eye-catching one.
• 3:33
  SPEAKER_00: Trump invokes Cold War era defense production act for oil production and refining.
• 3:40
  SPEAKER_00: President Donald Trump determined on Thursday that petroleum production, refining, and related activities are essential to the national defense.
• 3:46
  SPEAKER_00: No way.
• 3:47
  SPEAKER_00: A move that could open up the U.S.
• 3:49
  SPEAKER_00: funding for fossil fuel projects.
• 3:52
  SPEAKER_00: In a presidential memo, Trump Trump also invoked part of the Cold War era Defense Production Act, allowing him to provide financial incentives for oil-related activities, pipelines, and storage of liquid fuels.
• 4:06
  SPEAKER_00: Now, obviously, the input costs related to fuel right now are absolutely crazy, and we want to see those come back down, but we don't want to do it in a way that keeps this inflation up where it's at right now, because that just makes everything else more expensive in relation to fuel.
• 4:22
  SPEAKER_00: And I don't think that's the way to go either.
• 4:25
  SPEAKER_00: We'll see how this all plays out.
• 4:27
  SPEAKER_00: I think we just need to have the market come back down a little bit, would probably be the better way to solve this, and that it will run its natural course.
• 4:34
  SPEAKER_00: But for now, it seems like Trump is trying to get ahead of some of this before these midterms.
• 4:40
  SPEAKER_00: As we look towards the economic calendar for today, we got quite a bit on there.
• 4:44
  SPEAKER_00: The SP Global Manufacturing and Services PMI comes out at 8 45 a.m.
• 4:49
  SPEAKER_00: At 9, the University of Michigan sentiment comes out.
• 4:52
  SPEAKER_00: Then after the close, we get quite a few.
• 4:54
  SPEAKER_00: At 2, we get the Catalon feed that I talked about, and cold storage.
• 4:58
  SPEAKER_00: And at 2 30, we get the commitment of traders.
• 5:02
  SPEAKER_00: Well, that's all I have for you guys today.
• 5:04
  SPEAKER_00: Thank you for watching and tuning in this week.
• 5:06
  SPEAKER_00: It's been great hearing back from some of you guys that do.
• 5:09
  SPEAKER_00: If you have anything you'd like to see in the show, make sure and leave a comment down below and catch our shows that we did yesterday.
• 5:15
  SPEAKER_00: Dave has talked to a young producer in Minnesota that has his own coffee company that directly goes back to supporting farmers.
• 5:25
  SPEAKER_00: Tommy, if I can get the words out, just stuttering just a little bit there.
• 5:30
  SPEAKER_00: Tommy and Weissmeyer talked yesterday to David Wasserman from the Cook Political Report.
• 5:36
  SPEAKER_00: If you have any interest at all in what's going on in policy right now, that is the show to watch.
• 5:42
  SPEAKER_00: We thought it was so good that we made it all free to the public.
• 5:45
  SPEAKER_00: Weissmeyer is no longer free to everyone.
• 5:48
  SPEAKER_00: So to find more Wiesmeier content, you'll have to go to AgBull.com and look under the Weissmeyer's Perspectives tab.
• 5:55
  SPEAKER_00: Thank you for watching and thank you for listening this morning.
• 5:57
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media, where a financial channel that absolutely loves agriculture.
• 6:02
  SPEAKER_00: I'll talk to you next week.