CME LIVESTOCK: Live Cattle: $144.75 (-1.10); Feeder Cattle: $185.275 (-1.85); Hogs: $93.30 (-4.75); Milk: $20.67 (-0.20) (Cash trade this week got kicked off with $141 action in the South and $147 in the north)

CME GRAINS: Corn: $6.1975 (+4.75); Soybeans: $14.955 (+20.25); Wheat: $7.315 (-31.75); Cotton: $117.12 (-1.20) (Wheat down 70 cents since Monday)

New Report Indicates U.S. Left Over $7 Billion in Military Equipment in Afghanistan

Consumer prices in the UK increased to 10.1% year-over-year in July on higher food costs, according to a gov. report yesterday. The numbers confirm a stark Bank of England forecast earlier this month predicting 13% inflation as the country anticipates a likely recession this fall.

NATIONAL CATTLE TRACKER: The largest steer and heifer string sold on Wednesday was 683 steers (694#) from El Reno, Oklahoma at $190.25. The second largest string was 354 steers (910#) from Coffeyville, Kansas at $173.75

NATIONAL CALF TRACKER: The largest calf string sold on Wednesday was 67 steers (490#) from Cherokee, Oklahoma at $209.00. The average price paid on Wednesday for the top 10 calf strings was $209.73, compared to $211.80 on Tuesday

NATIONAL STEER TRACKER: The largest steer string sold on Wednesday on the National Steer Tracker (700-899#) was 130 steers (797#) from El Reno, Oklahoma at $187.00. The average price for the top 10 steer strings sold on Wednesday was $182.73, compared to $186.58 on Tuesday

U.S. CATTLE REPORT: WOWSA; Live cattle hit contract highs; Feeder cattle highest in 6 months; Live cattle trade from $141-147; 683 steers (694#) from El Reno, Oklahoma at $190.25 (3rd largest string in U.S., highest price steer string at OKC West so far in 2022)

U.S. EXPORT SALES: Beef sales not great but up 22% from last week; Corn sales terrible

CORN EXPORTS: Net sales of 151,600 MT for 2021/2022--a marketing-year low--were down 63 percent from the previous week and 73 percent from the prior 4-week average

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