Latest / Professional Ag Marketing Podcast / Livestock Tumbles & Wall Street Loses $2.5 Trillion | The Opening Look

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Livestock Tumbles & Wall Street Loses $2.5 Trillion | The Opening Look · Professional Ag Marketing Podcast

• 0:05
  SPEAKER_00: Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors.
• 0:10
  SPEAKER_00: Hello world and good morning.
• 0:13
  SPEAKER_00: This is the opening look for Friday, November 6th, 2026.
• 0:18
  SPEAKER_00: I'm Nathan.
• 0:19
  SPEAKER_00: The grain markets greet the morning with a little commotion, but behind the quiet opening stands a bruising Thursday in livestock.
• 0:26
  SPEAKER_00: Hogs and cattle fell sharply.
• 0:28
  SPEAKER_00: The cash and wholesale trade supplied its own set of signals, and beyond the farm gate, new Chinese grain agreements share the headlines with a remarkable retreat on Wall Street.
• 0:39
  SPEAKER_00: First, the overnight price action.
• 0:42
  SPEAKER_00: We begin in Chicago, where the grain markets have passed the overnight hours on comparatively quiet footing.
• 0:48
  SPEAKER_00: December corn is down half a cent at four hundred thirty nine and a half per bushel.
• 0:53
  SPEAKER_00: March corn is off a quarter cent at four hundred fifty four and a half.
• 0:58
  SPEAKER_00: Soybeans are largely unchanged, with January up three quarter cents at eleven eighty nine.
• 1:04
  SPEAKER_00: Quiet is the word across the board this morning.
• 1:07
  SPEAKER_00: From this morning's subdued grain trade, we look back now at Thursday's livestock session, where the tone was considerably heavier.
• 1:15
  SPEAKER_00: December lean hogs fell two dollars forty five cents yesterday to settle at fifty five ten.
• 1:21
  SPEAKER_00: February surrendered two dollars twelve cents, closing at sixty and seventeen cents, with losses reaching farther along the curve.
• 1:30
  SPEAKER_00: Cattle followed the same downward road.
• 1:33
  SPEAKER_00: December live cattle dropped three dollars sixty cents Thursday to two hundred fourteen forty, while February lost three twenty to finish at two hundred seventeen sixty two and a half.
• 1:43
  SPEAKER_00: The deepest losses belonged to feeder cattle.
• 1:46
  SPEAKER_00: November feeders fell six hundred ninety-seven to three hundred twenty five.
• 1:51
  SPEAKER_00: January dropped five hundred forty to three hundred twenty thirty-two, and March declined four hundred ninety-two to three hundred fifteen ninety-two.
• 1:59
  SPEAKER_00: So Friday's grain trade begins with whisper.
• 2:02
  SPEAKER_00: Thursday's livestock trade ended with something considerably louder.
• 2:07
  SPEAKER_00: The cash hog market also moved lower Thursday.
• 2:11
  SPEAKER_00: The national negotiated weighted average slipped 70 cents to 41.79, with 1711 head reported.
• 2:20
  SPEAKER_00: But wholesale pork proved considerably steadier.
• 2:24
  SPEAKER_00: The estimated pork cutout eased just 30 cents to sixty eight ninety nine on three hundred and forty-two loads.
• 2:32
  SPEAKER_00: Beneath the carcass value, ribs gained four hundred seventy-five and picnics rose three dollars and one cent, while bellies fell$359 and HAMS lost$1.66.
• 2:44
  SPEAKER_00: Boxed beef also lost ground.
• 2:46
  SPEAKER_00: Choice declined 94 cents to$361.56, while select fell much steeper$4.33 to$352.32.
• 2:56
  SPEAKER_00: That leaves the choice to select spread at$9.24 with 97 total loads reported.
• 3:02
  SPEAKER_00: So the fundamentals close on a softer note.
• 3:05
  SPEAKER_00: Cash hogs moved lower, the port cutout gave up ground with sharp swings beneath the surface, and box beef slipped as well.
• 3:13
  SPEAKER_00: With that, we turned from the cash and wholesale trade to the headlines shaping the broader picture.
• 3:19
  SPEAKER_00: Across the Pacific comes a notable development for American grain.
• 3:24
  SPEAKER_00: Chinese buyers have signed$600 million in agreements for U.S.
• 3:27
  SPEAKER_00: sorghum and wheat.
• 3:29
  SPEAKER_00: According to Reuters, Illinois-based Heng Tung Resources signed the deals with three Chinese buyers Friday at the China International Import Expo in Shanghai.
• 3:40
  SPEAKER_00: The agreements arrived with China's purchases of American farm products outside soybeans running well behind its$17 billion annual commitment.
• 3:48
  SPEAKER_00: Those purchases totaled$7.2 billion through September.
• 3:53
  SPEAKER_00: China has not officially purchased any U.S.
• 3:55
  SPEAKER_00: wheat this year, while it ranks as the second largest buyer of U.S.
• 3:59
  SPEAKER_00: sorghum behind Mexico.
• 4:02
  SPEAKER_00: And from Shanghai, we crossed the ocean to Wall Street, where Thursday brought a very different story, very different sort of headline.
• 4:10
  SPEAKER_00: The NASDAQ plunged 5.5%, carrying the index into correction territory, more than 10% beneath its October record high.
• 4:19
  SPEAKER_00: Roughly$2.5 trillion in market value disappeared.
• 4:23
  SPEAKER_00: The SP 500 fell for 4.4%, and the Dow dropped 3.4%, giving all three indexes their worst day since April 2025.
• 4:35
  SPEAKER_00: Technology and AI shares led the retreat amid concerns that the Democratic midterm victories could bring tighter AI regulation.
• 4:44
  SPEAKER_00: The selling then widened into industrial and financial shares, turning Wednesday's post-election rally into Thursday's broad retreat.
• 4:53
  SPEAKER_00: And so another November morning unfolds across the markets.
• 4:57
  SPEAKER_00: Grain moves quietly.
• 4:59
  SPEAKER_00: Livestock carries the weight of yesterday's losses.
• 5:02
  SPEAKER_00: New possibilities appear across the Pacific, while Wall Street offers a fresh reminder of how quickly confidence can give way to caution.
• 5:12
  SPEAKER_00: For producers, that is the business we are in.
• 5:16
  SPEAKER_00: Reading the currents without being carried away by them.
• 5:19
  SPEAKER_00: Professional ag marketing helps farmers and livestock producers understand those currents, manage price risk, recognize opportunity, and put disciplined marketing plans to work.
• 5:30
  SPEAKER_00: We cannot quiet the markets.
• 5:32
  SPEAKER_00: We can meet them prepared.
• 5:35
  SPEAKER_00: That is the opening look for Friday, November 6th, 2026.
• 5:39
  SPEAKER_00: I'm Nathan.