Ukraine

The July Ag Economists’ Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.

Diesel prices hit historic highs this week. Due to increased demand and a drop in production, a diesel shortage may be looming as the largest diesel distribution hub in the U.S. is sitting on supplies at a 30-year low.

UPDATE: WASHINGTON (AP) - Biden: US ban on Russian oil a ‘powerful blow’ to ‘Putin’s war,’ warns Americans ‘defending freedom is going to cost.’

Will the expected sanctions on Russia impact global meat trade and demand? Len Steiner of Steiner Consulting Group posed this question in the Feb. 24 Daily Livestock Report.

Cattle markets were hit hard Thursday on news of Russia’s invasion of Ukraine. Higher grain prices drove feeder cattle prices as much as $5 lower on CME feeder cattle futures and more than $2 lower for CME Live cattle.