Latest / AG Bull / AG Squawk AM 10/29/2026 with Jed Sidwell | What Are We Gonna Do with Lean Hogs?

Transcript

AG Squawk AM 10/29/2026 with Jed Sidwell | What Are We Gonna Do with Lean Hogs? · AG Bull

• 0:09
  SPEAKER_00: Good morning and welcome to Ag Squawk AM.
• 0:12
  SPEAKER_00: Jed Sidwell here, live from Joliet, Illinois.
• 0:15
  SPEAKER_00: Today on this fine Thursday morning, we'll talk about the national soybean harvest progress, what's going on with the whole pork business in Smithfield, as well as some drama coming out of the White House.
• 0:39
  SPEAKER_00: It was a tough day yesterday in the livestock markets.
• 0:42
  SPEAKER_00: Live cattle were down 353 at 227.33.
• 0:47
  SPEAKER_00: At one point they were down more than that.
• 0:48
  SPEAKER_00: Feeder cattle were down 328 at 346.75.
• 0:54
  SPEAKER_00: Lean hogs in the front month were down$3.43 at$58.60.
• 0:59
  SPEAKER_00: In some of the back months of the hogs, however, there was just a bit of green.
• 1:04
  SPEAKER_00: Before we look at the grain markets, like to shout out our sponsor, Plus 500.
• 1:08
  SPEAKER_00: We use plus 500 T4 trading software to quote the markets every single day.
• 1:13
  SPEAKER_00: And as I look here live, the December corn trap corn contract is at 451.
• 1:18
  SPEAKER_00: Even November soybeans are down overnight.
• 1:21
  SPEAKER_00: They are currently at 12, 16, and three quarters.
• 1:27
  SPEAKER_00: And then the December Chicago wheat is at six bucks even right now, ticking just a cent higher overnight.
• 1:36
  SPEAKER_00: Before we look at the weather, we'd like to just shout out the our in-house meteorologist Craig Solberg.
• 1:42
  SPEAKER_00: He brings us great weather every single day.
• 1:45
  SPEAKER_00: We're going to see heavy, widespread rain from late Sunday night through about November 4th.
• 1:50
  SPEAKER_00: That's two to three inches in Iowa, parts of Nebraska, Missouri, Illinois.
• 1:55
  SPEAKER_00: It will stop field work in the middle of the country.
• 1:58
  SPEAKER_00: However, most areas east of the Mississippi will keep harvesting through Saturday.
• 2:04
  SPEAKER_00: As we work towards harvest, I thought this was a pretty essential chart to bring on because the harvest looks a lot different from state to state and even neighboring states throughout this great country.
• 2:18
  SPEAKER_00: And as we look here, man, most of the corn belt is kind of with average, with the exception of Nebraska and Iowa on there, man.
• 2:29
  SPEAKER_00: They are really behind when it comes to soybean harvest down in the delta areas.
• 2:35
  SPEAKER_00: Great harvest for them on the soybean yield side of things, but they're also ahead of schedule.
• 2:41
  SPEAKER_00: States like on the East Coast are kind of sitting at average with outside of New York.
• 2:46
  SPEAKER_00: New York is really behind on their soybean harvest progression.
• 2:51
  SPEAKER_00: Looking at this chart, we have a lot of news right now about the hog markets.
• 2:55
  SPEAKER_00: Now it's been a brutal trade here recently.
• 2:57
  SPEAKER_00: Just a few months ago, we were above a 100 down.
• 3:00
  SPEAKER_00: Now we're down at 59.
• 3:03
  SPEAKER_00: It has just been a brutal, brutal hog trade here the past couple of weeks.
• 3:07
  SPEAKER_00: And I figured we'd shine some light on a subject that's been catching some headlines here.
• 3:14
  SPEAKER_00: Smithfield said Tuesday it will raise 900,000 fewer hogs per year, which it sounds like a supply cut until you actually get into the nitty-gritty.
• 3:26
  SPEAKER_00: On October 16th, it agreed to sell four forty thousand North Carolina sows and the hogs on those farms to Vision Ag, a producer it already owns 9% of, and it's financing the sale itself on a 30-month note, leasing that to Vision Ag.
• 3:43
  SPEAKER_00: And as you can see there on that chart, that's 2019, 2024, and 2025.
• 3:49
  SPEAKER_00: 2019 was the high.
• 4:06
  SPEAKER_00: So we'll see how this plays out here in the markets.
• 4:08
  SPEAKER_00: Hopefully they can catch a little bit of a rebound.
• 4:10
  SPEAKER_00: It's promising to see the back months show a bit of green yesterday.
• 4:15
  SPEAKER_00: This is the breaking news headline that caught my eye this morning, and it's a strange one.
• 4:19
  SPEAKER_00: Hegseth reportedly fires U.S.
• 4:21
  SPEAKER_00: top military planner as Trump downplays Iran peace talks.
• 4:25
  SPEAKER_00: Lieutenant General Brett Sylvia was removed as head of strategy, plans, and policy on the Joint Chiefs of Staff.
• 4:33
  SPEAKER_00: The move comes as U.S.
• 4:35
  SPEAKER_00: President Donald Trump said over the weekend he was deciding to whether or not to make a deal with Iran or to finish it off.
• 4:43
  SPEAKER_00: Separately, Trump has also denied any peace talks were happening with Iran.
• 4:47
  SPEAKER_00: Man, a lot of mixed signals there.
• 4:50
  SPEAKER_00: You know, we heard forever about these peace talks and how at some point we were they were going to come to a head and be completely resolved.
• 4:56
  SPEAKER_00: Now it's seeming like, you know, push has come to shove and we're going to take action, but how are we going to take action without our chief strategist there?
• 5:04
  SPEAKER_00: We'll see how this plays out.
• 5:06
  SPEAKER_00: A lot of questions in the air right now.
• 5:09
  SPEAKER_00: Here's what we have on the economic calendar for today, and man, it's a full one here as I'm speaking in a few minutes.
• 5:16
  SPEAKER_00: The export sales, jobless claims, PCE price index, personal income and spending, and the GDP will all come out at 7 30 a.m.
• 5:23
  SPEAKER_00: Central.
• 5:24
  SPEAKER_00: Then after that, the natural gas storage change comes out at 9.30.
• 5:28
  SPEAKER_00: Thank you for watching this morning.
• 5:30
  SPEAKER_00: We always enjoy having you on as we look towards the rest of the week.
• 5:35
  SPEAKER_00: Davis has on a couple of guests I'm really excited about.
• 5:38
  SPEAKER_00: You can catch this show on all platforms.
• 5:41
  SPEAKER_00: If you like to just turn off your phone, uh not have to watch the video, watch it on Spotify or Apple Music.
• 5:46
  SPEAKER_00: If you like to blow it up big, look at all the charts, watch it on YouTube.
• 5:50
  SPEAKER_00: That goes for all of our content.
• 5:52
  SPEAKER_00: I also encourage you to go to our website at AgBull.com.
• 5:55
  SPEAKER_00: We have a plethora of content there.
• 5:58
  SPEAKER_00: Mr.
• 5:58
  SPEAKER_00: Jim Wiesmeyer's content is all exclusively released through AgBull.com.
• 6:05
  SPEAKER_00: So if you need to get your policy fix, I encourage you to go on over there at$199 a year for Wiesmeyer's Perspectives,$250 a year for AgBull Intel.
• 6:13
  SPEAKER_00: But that$250 a year gets you two months for free and one of these cool free speakers.
• 6:18
  SPEAKER_00: So make sure to check that out.
• 6:20
  SPEAKER_00: Well, thank you for watching.
• 6:21
  SPEAKER_00: Thank you for listening.
• 6:22
  SPEAKER_00: I'm Jed Sidwell with AgBull Media.
• 6:24
  SPEAKER_00: We're a financial channel that absolutely loves agriculture.
• 6:27
  SPEAKER_00: I'll talk to you tomorrow.