At the conclusion of the G20 summit in Argentina, President Trump and Chinese President Xi Jinping agreed on a 90 day delay before the US implements the increase of the current 10% tariff of Chinese goods imported into the US to the proposed 25% tariff. China agreed to lift trade barriers on U.S. products, including agricultural goods. Corn and soybean price increased Sunday night. The increase in grain and oilseed prices is occurring right as farmers are buying inputs for the coming year.
Livestock prices also increased when trade opened on Monday, but declined as the day went on. Trade talk and strong outside markets is helping support livestock prices. Fat cattle prices were slightly stronger last week on light trade.
|Week of||Week of||Week of|
|Data Source: USDA-AMS Market News||11/30/2018||11/23/2018||12/1/2017|
|5-Area Fed Steer||all grades, live weight||$117.10||$115.39||$120.58|
|all grades, dressed weight||$183.38||$181.89||$189.91|
|Boxed Beef||Choice Price, 600-900 lb.||$213.39||$213.76||$207.08|
|700-800 lb. Feeder Steer||Montana 3-market||$144.51||—||$154.29|
|500-600 lb. Feeder Steer||Montana 3-market||$168.05||—||$176.66|
|Feed Grains||Corn, Omaha, NE, $/bu||$3.46||$3.47||$3.17|
|DDGS, Nebraska, $/ton||$154.00||$143.00||$142.00|