Weather is top of mind for both sides of the market spectrum on Thursday. A large winter storm that has already hit the Dakotas is expected to bring blizzard-like conditions.
Bryce Anderson DTN Meteorologist says this impressive, stressful and harvest disrupting system is almost a springtime type of event based on how volatile it is. “By Saturday we could see snowfall totals of anywhere from 2-4 feet over central and eastern North Dakota and the northern quarter of South Dakota. The real heavy snow will be in the North Eastern Quarter of North Dakota close to the Manitoba line.”
This system will bring transportation issues across the states. The storm will not likely impact cattle feedlots rather the impact will be on cow/calf producers. Transportation will be an issue with this storm, especially related to market moves through the Midwest.
In addition to weather, the markets continue to have a close eye on a number of developing issues Thursday. Trade talks between the U.S. and China are underway. The talks will influence hog and cattle prices heavily if the talks go well. The WASDE report that came out at 11 am on Thursday will have an influence on grain markets as traders continue to dissect the report as we round out the week.