Thursday, May 23, 2019 11:54AM CDT
A Florida-based cattle trader has filed a class action lawsuit similar to action taken by Ranchers-Cattlemen Action Legal Fund United Stockgrowers of America, or R-CALF USA, accusing the nation's largest meatpackers of conspiracy to drive down cattle prices.
July corn is up 1 3/4 cents per bushel, July soybeans are up 1/2 cent, and July K.C. wheat is up 5 3/4 cents.
Limited volume is expected through the end of the week with traders caught between follow-through selling interest and pre-holiday short-covering. Firmness is expected following the April Cold Storage report, which showed strong red meat clearance through the month of April.