Weather Impact on Supplies

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Lots of information to be included in this week's issue including hamburger costs reaching record highs. Chicken prices have remained stubbornly inflated as well while some of the feed and wheat markets have fallen to multi-year lows. Don't look now but cash feed corn prices are at some of their lowest levels since the Los Angeles Dodgers won their seventh and last World Series in the fall of 2020.

So as you probably can tell from this newsletter title, weather is playing its part with the feed and wheat supplies in a good way. As a matter of fact, and you know I dig facts quite a bit, current crop ratings for corn and soybeans are the best for this time of the year since 2020. Not to be outdone, spring wheat crop ratings are some of the best for early August in 14 (think: Oscar Robertson) years. All of that being said, the weather has not been helpful for U.S. pastures with conditions deteriorating rather sharply over the last several weeks. The latest pasture crop ratings were the fourth worst for the date in nearly two decades. Not good news for future beef supplies for sure.

Want to learn how Datum FS can help you anticipate commodity volatility? Learn more at DatumFS.com or direct message me. Thanks for reading