Latest / AG Bull / AG Squawk AM 7/6/2026 | Morning Market Pulse for Grain and Livestock

Transcript

AG Squawk AM 7/6/2026 | Morning Market Pulse for Grain and Livestock · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:12
  SPEAKER_00: Jed Sidwell here with Ag Bull Media.
• 0:14
  SPEAKER_00: We're a financial channel that loves agriculture.
• 0:17
  SPEAKER_00: Well, I hope you had a great 4th of July weekend.
• 0:20
  SPEAKER_00: I know that I sure did back home in Colorado, and I'm excited to be back and get back into it.
• 0:25
  SPEAKER_00: Man, we saw some weather throughout parts of the country this past weekend.
• 0:29
  SPEAKER_00: Did some interesting stuff to grains on the open last night.
• 0:33
  SPEAKER_00: We'll get to it here in a bit.
• 0:34
  SPEAKER_00: Let's go ahead and roll the intro.
• 0:54
  SPEAKER_00: Live cattle were at$239.23, down$2.60.
• 0:59
  SPEAKER_00: Feeder cattle were at$3.60 and 63 cents, down$3.50.
• 1:04
  SPEAKER_00: Lean Hogs, however, saw a much needed jump.
• 1:06
  SPEAKER_00: They were at$1.70 higher at$98.7.50.
• 1:11
  SPEAKER_00: Those are all the August contract there.
• 1:14
  SPEAKER_00: On the grain side of things, however, we saw an overnight rally last night in grains, a big jump, especially in corn and soybeans.
• 1:23
  SPEAKER_00: As I'm making this right now on the September contracts, corn's at$4.34, beans are$11.68, and Chicago wheat is at$6.07.
• 1:35
  SPEAKER_00: Now we saw some flooding throughout the Midwest last week.
• 1:38
  SPEAKER_00: And like we've talked about on this channel before, it doesn't matter how good your corn genomics are, how good your fertilizer plan is, how good your timing and everything like that is, if it all floods out, your yield goes back to zero.
• 1:52
  SPEAKER_00: And it's really unfortunate to see it causes really big changes in the market.
• 1:57
  SPEAKER_00: Hopefully, some of this drier weather that we're going to see here for the next couple days allows the parts of this corn and soybean belt to dry out for a little bit.
• 2:06
  SPEAKER_00: Because, man, in spots, especially where Tommy's at up in Valparaiso, they could really use it.
• 2:11
  SPEAKER_00: On the weather just side of things to kind of continue this discussion, this is our 72-hour chart from Mr.
• 2:18
  SPEAKER_00: Craig Solberg here at Nezvik Trading.
• 2:20
  SPEAKER_00: We always really like to pop this one up.
• 2:22
  SPEAKER_00: I always think it's great to look at the patterns on that chart.
• 2:26
  SPEAKER_00: And man, we see a dry strip uh from all the way up in there into northern Illinois, all the way down into Kansas, Oklahoma, and Texas.
• 2:34
  SPEAKER_00: We're gonna see very little rain uh today and tomorrow in the corn belt, but we do have the chance of a ridge rider effect in when from Wednesday till Saturday.
• 2:44
  SPEAKER_00: The hard red wheat belt, though, is still below normal rainfall, starting to continue that trend there.
• 2:52
  SPEAKER_00: France, and we know it's overseas, but we always like to bring them up.
• 2:55
  SPEAKER_00: They saw a 10 to 15 degree above normal high, and man, it's having wreaking havoc on their grain crops over there.
• 3:03
  SPEAKER_00: It's a different market from that from us, of course, but like we like to say, a rising tide brings up all ships.
• 3:10
  SPEAKER_00: It'll be interesting to see what that does on the U.S.
• 3:13
  SPEAKER_00: grain market.
• 3:15
  SPEAKER_00: Well, on to our livestock chart for today, Mr.
• 3:19
  SPEAKER_00: Clayton Nesvik, like to give him a shout out.
• 3:21
  SPEAKER_00: He popped up this great chart last week, and I thought it was something that we kind of continue need to have on our minds on the livestock side of things.
• 3:30
  SPEAKER_00: It's been hard to replace feeder cattle that have uh gone out of feed yards with record high feeder prices.
• 3:37
  SPEAKER_00: So we've kind of developed this large end front-end supply, causing higher and higher weights of fat cattle.
• 3:44
  SPEAKER_00: What does that mean?
• 3:45
  SPEAKER_00: Carcass weights go up as well.
• 3:48
  SPEAKER_00: We've seen a lot higher carcass weights for sure.
• 3:50
  SPEAKER_00: Steers were at 968 compared to a year ago, they're up 31 pounds.
• 3:56
  SPEAKER_00: That's not live weight, that's carcass weight.
• 3:58
  SPEAKER_00: So that's a shrunken back once we've removed the hide and everything like that.
• 4:02
  SPEAKER_00: Heifers were at 857 up 23.
• 4:06
  SPEAKER_00: Those are really big jumps, and uh they're starting to become what uh my grandpa likes to joke about as being hook benders.
• 4:13
  SPEAKER_00: They like to bend the hook on the rail when they're in the packing house.
• 4:17
  SPEAKER_00: We can start to see some docs from those sort of things, so it'll be interesting to pay attention to as we press and press the upper boundary there.
• 4:26
  SPEAKER_00: Well, the economic calendar for this week, the SP Global Services PMI comes out at 8 45 a.m.
• 4:32
  SPEAKER_00: The ISM Services Index comes at 9.
• 4:35
  SPEAKER_00: The export inspections is at 10 a.m.
• 4:38
  SPEAKER_00: Crop Progress, the big one, is after the close today at 3 p.m.
• 4:43
  SPEAKER_00: Central.
• 4:43
  SPEAKER_00: We'll go ahead and update you on what all that means uh after the reports come out tomorrow.
• 4:48
  SPEAKER_00: Well, thank you for listening this morning.
• 4:50
  SPEAKER_00: It's certainly been a pleasure.
• 4:52
  SPEAKER_00: You know, we'd like to go and give a shout out to our premium side.
• 4:56
  SPEAKER_00: We'd love to have you on it.
• 4:57
  SPEAKER_00: It's$2.50 a month or$25 a month or$250 annually.
• 5:01
  SPEAKER_00: Man, it's the best way to stay informed, whether it be weather, markets, grain, cattle, macros, it's a heck of a subscription.
• 5:09
  SPEAKER_00: Go ahead and find it at AgBull.com.
• 5:12
  SPEAKER_00: And make sure and pay attention this afternoon for Mr.
• 5:15
  SPEAKER_00: Davis Michelson with AgSquawk.
• 5:17
  SPEAKER_00: He has on a heck of a slate of guests today.
• 5:20
  SPEAKER_00: I'm a big fan of the guest today.
• 5:22
  SPEAKER_00: Well, because it happens to be me, I'll go ahead and see you this afternoon.
• 5:27
  SPEAKER_00: Well, thanks for watching.
• 5:28
  SPEAKER_00: Thanks for listening.
• 5:29
  SPEAKER_00: I'm Jed Sidwell with Ag Bull Media.
• 5:31
  SPEAKER_00: We're a financial channel that loves agriculture.