Home Market Market Watch Gary Wilhelmi 6-13-12 PM Comments

Gary Wilhelmi 6-13-12 PM Comments

SHARE

Financial

Dow falls to 78 point loss

Private agency down gradesSpaincredit rating again

Spanish and Italian interest rates spike to new highs

The question now in becoming many when those higher rates visit our shores

Former Fed Chairman Greenspan calls the euro a failed experiment

Fed stimulus must come next week, if at all; otherwise the clock gets pushed back to 2013

An increasing number of economist fear we will be back into recession by then

PPI up 1% was largest jump in a year

USGDP growth is generally estimated at 2% or less

Many stock instrument expirations this week and mean’s more instability in equities

Coming attractions; Greek election Sunday, Supreme Court health care decision soon and EU summit at end of month

Livestock

Cash cattle may settle ate $124

Boxed beef was off $ .31 on choice today with movement good

Beef leads holiday features but only one choice offering (rib eyes at $8)

Watch slaughter which could rise to 650,000

Nearby cattle fell back into center of their trading range

Pork cutout firm but margins remain in the red

Hog slaughter running about 40,000 under last week

Grain and soybean markets

The period between 6/18 and 6/22 may bring rains and possible change in the dry pattern that has dominated the southernCorn Belt

Run and gun speculators ran corn up and soybeans down, to polar opposites in Wednesday’s trade, but both are near the mid point

The main period of weakness appeared late in the afternoon so check out the European markets at dawn

We could see further crop deterioration next week, but a rain event could reignite our super seeds

Wheat was quiet as world balance is adequate supply wise.

Wheat production has diversified over the past decade or so