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- US stock indexes moved to their highest levels in 15 months as investor money continues to pour in on an endless stream of bullish economic numbers.
- At the same time, the cattle market turned a bit “bizarre” as boxed beef drops and futures markets continue to rally.
- USDA tipped the government's real belief in trade relationships between the US and China as it made a dramatic cut to new-crop soybean export expectations.
This was quite a week. For all the numbers lovers out there, this was your week as financial markets saw the release of June’s Consumer and Producer Price Index numbers to go along with the Import Price Index and preliminary July consumer sentiment. In the grain and oilseed sector, those in love with what has been describe by folks in the know as “educated guesses” saw the monthly round of USDA supply and demand estimates released Wednesday. And in the livestock sector, we all received mixed readings on the US economy. With this as a backdrop, there are three main market conversations we can have over the weekend. So grab your favorite Friday afternoon beverage and/or cocktail, and let’s get started.
