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Market News: Cattle and Hog Futures on a Downward Trajectory Heading into Friday

2024-11-14

Market trends in the livestock sector are closely watched as cattle and hog futures take a dip. This article delves into the details of the day's trading activities and their implications.

Uncover the Shifts in Cash Livestock Markets

Cattle Futures at the Chicago Mercantile Exchange

Live and feeder cattle futures at the Chicago Mercantile Exchange showed a mixed picture. Cash business was lower, with sharp declines in wholesale transactions. A light round of direct cash cattle business took place on Thursday. In the South, live deals were at $185, $2 lower than the previous week's weighted averages. There were also some deals in Nebraska reported at the same price. Expect more business before the end of Friday. Boxed beef closed lower due to light demand for heavy offerings. Choice was $3.14 lower at $303.80 and Select closed $2 lower at $276.66, with a Choice/Select spread of $27.14.

At the Mobridge Livestock Exchange, steers in different weight ranges had varying trends. Steers 400 to 499 pounds were $10 lower, 500 to 549 pounds were mostly steady, and 550 to 599 pounds were $5 to $8 lower. Heifers also saw declines, with 450 to 499 pounds down $4 to $6 and 550 to 599 pounds down $8 to $10. The USDA reported good to very good demand for calves, but quality varied from plain to attractive. Receipts were down on a weekly and yearly basis. Feeder supply consisted of 70% steers and only 12% over 600 pounds. Medium and Large 1 feeder steers 501 to 531 pounds brought $320 to $346, and feeder steers 554 to 594 pounds brought $303 to $321. Medium and Large 1 feeder heifers 452 to 496 pounds brought $300 to $322.50, and feeder heifers 553 to 592 pounds brought $270 to $287.

Hog Futures and Cash Markets

Lean hog futures ended the day lower, pressured by sharply lower wholesale and cash business. Cash hogs closed lower with a fairly light negotiated run. Demand for U.S. pork on the global market has been relatively strong, providing significant price support. However, the industry is closely monitoring the availability of market-ready hogs as supplies are tighter than expected. Domestic demand has been inconsistent. Hog weights have declined from year-ago levels. Barrows and gilts at the National Daily Direct closed $2.80 lower with a base range of $77 to $89 and a weighted average of $86.14. The Iowa/Minnesota closed $1.91 lower with a weighted average of $87.05, and the Western Corn Belt closed $2.16 lower with a weighted average of $86.80. Prices at the Eastern Corn Belt were not reported due to confidentiality. Butcher hog prices at the Midwest cash markets remained steady at $60. Pork values closed sharply lower, down $3.19 at $94.07. Bellies dropped more than $20, and ribs, hams, and butts were all lower. Loins were firm and picnics were sharply higher.

Inter Milan have made a significant decision regarding two of their key strikers. Marko Arnautovic and Joaquin Correa will not be retained beyond the current campaign. The club is now focused on strengthening their attack by adding one or two new players next season. According to La Gazzetta dello Sport via FcInterNews, it seems that the writing is on the wall for these Austrian and Argentine strikers.

Challenges in the Attacking Department

This season, Inter Milan's attacking department has faced some difficulties. Marcus Thuram has been leading the scoring charts, but Lautaro Martinez has not been able to replicate his remarkable numbers from last season. The club had high hopes for new signing Mehdi Taremi after an impressive pre-season, but he has only contributed with a goal and three assists in all competitions. Arnautovic and Correa have been at the bottom of the pecking order and the Italian champions were unable to offload them in the summer. However, their contracts will expire at the end of the season, making their departures seemingly inevitable.

Marko Arnautovic's Performance

In the Champions League this season, Arnautovic has earned 125 minutes and made two starts. He managed to score a goal in the 4-0 routing against Red Star Belgrade, which remains his only goal in the current campaign. However, he also missed a penalty kick against Young Boys when the score was still 0-0. His performance in the Champions League has been a mixed bag, with moments of brilliance but also some crucial misses.

Joaquin Correa's Loan Spell and Return

Joaquin Correa returned from a disappointing loan spell at Olympique Marseille. His stocks were at an all-time low last summer when Inter were trying to offload him. This season, he made three appearances in Serie A, all coming off the bench. His limited playing time suggests that he has not been able to establish himself in the team and his future at Inter Milan remains uncertain.Inter Milan's decision to part ways with Marko Arnautovic and Joaquin Correa is a significant one for the club. It shows their determination to strengthen their attack and build a more competitive team for the future. While these two strikers have had their moments at Inter Milan, it seems that their time at the club is coming to an end. The club will now look to bring in new talent to fill the void left by their departures.

NASA's Deputy Administrator Pam Melroy stands at the forefront of a significant endeavor. On Wednesday, November 13, 2024, at the agency's Kennedy Space Center in Florida, she engages in discussions with various groups of employees about NASA 2040. This strategic initiative was launched in June 2023 with the aim of bringing about meaningful changes.

Ensuring Global Leadership in Aerospace and Science

The initiative is dedicated to ensuring that NASA remains the global leader in aerospace and science by 2040. It recognizes the importance of addressing the agency's aging infrastructure, which poses challenges to its continued progress. By focusing on this aspect, NASA aims to lay a solid foundation for the future. 1: The aging infrastructure at NASA has been a concern for some time. It affects not only the efficiency of operations but also the safety and reliability of missions. By addressing this issue, NASA can enhance its capabilities and better serve the nation and the world. 2: The agency is exploring innovative ways to modernize and upgrade its infrastructure. This includes the development of new technologies and the implementation of sustainable practices. By doing so, NASA can ensure that its facilities are equipped to meet the demands of the future.

Shaping the Agency Workforce Strategy

Another crucial aspect of NASA 2040 is shaping the agency workforce strategy. A skilled and diverse workforce is essential for NASA to achieve its goals. The initiative aims to attract and retain top talent, while also providing opportunities for professional growth and development. 1: NASA recognizes that its workforce is its most valuable asset. By investing in its employees, the agency can foster a culture of innovation and excellence. This includes providing training and development programs, as well as creating a supportive work environment. 2: The agency is also exploring ways to increase diversity within its workforce. By having a diverse team, NASA can bring different perspectives and ideas to the table, leading to more creative and effective solutions.

Improving Decision Velocity

Improving decision velocity is another key objective of NASA 2040. At many levels within the agency, decision-making processes can be slow, which can hinder progress. By streamlining these processes and increasing efficiency, NASA can make timely decisions and respond more effectively to changing circumstances. 1: Delayed decisions can have a significant impact on NASA's operations and missions. By improving decision velocity, the agency can be more agile and responsive, which is crucial in a rapidly changing world. 2: The initiative involves implementing new tools and technologies to facilitate faster decision-making. This includes the use of data analytics and artificial intelligence to provide timely and accurate information for decision-making.

Exploring Budget Flexibility

Finally, NASA 2040 focuses on exploring ways to achieve greater budget flexibility. The agency operates in a complex and challenging financial environment, and having the ability to adapt to changing budgets is essential. 1: Budget constraints can often limit NASA's ability to pursue certain initiatives and projects. By exploring ways to achieve greater budget flexibility, the agency can be more proactive in addressing emerging needs and opportunities. 2: This may involve innovative financing models and partnerships with other organizations. By working together, NASA can leverage resources and achieve more with limited budgets.