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Cattle

Choice Fed Steers +4128 - 130
Week of 2/12/18


Dressed Basis 
+5204 - 205
Week of 2/12/18

Boxed Beef Cutout +0.84209.88
131 loads 
Fri PM

Hogs

Western Cornbelt-0.5065.01
Iowa Lean Average-0.45

65.09

Sheep/Goats

Finished Lambs (Billings, MT 2/12)Higher177 - 190
70-80 lb Feeders (Billings, MT 2/12)+15 to 25218 - 241
90-120 lb Feeders (Billings, MT 2/12)+15 to 25164 - 216
Sl. Ewes (Billings, MT 2/12)63 - 68
60-80 lb Sl. Kids (Billings, MT 2/12) 
220 - 230
-2 to 5
-2 to 5
+20 to 30

Livestock Market News

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Market Commentary

Market Commentary from the Northern Ag Network:

2/16/2018 3:00 PM

DTN reports: 

Late-week support moved into the cash cattle complex, pushing prices $4 to $5 per cwt higher than last week. This building support continues to affect the rest of the market, pushing front-month live cattle futures higher Friday. Markets will remain closed Monday and reopen Tuesday morning.

LIVE CATTLE:

Light-to-moderate gains developed late in the trading session following lackluster interest through most of the morning. Nearby gains were offset by light pressure in deferred contracts ($0.10 lower to $0.82 higher). The inability to establish additional selling pressure early Friday morning allowed the bullish market shift seen over the last couple of days to continue through the entire market. The February futures contract rallied 82 cents to close at $130 per cwt. Although trade volume remained light late in the week, the firmness coming from cash cattle trade seemed to be a welcome sight to most traders. Beef cut-outs: mixed, $0.02 lower (select, $205.12) and up $0.84 (choice, $209.88) with moderate demand and light offerings (94 loads of choice cuts, 13 loads of select cuts, 7 load of trimmings, 18 loads of coarse grinds).

TUESDAY'S CASH CATTLE CALL:

Steady. Following the strong move higher in cash trade in live and dressed basis deals Friday, early week activity is likely to remain sluggish. Show list distribution is expected to be the main order as both sides focus on overall numbers of cattle sold.

FEEDER CATTLE:

Mixed trade in a narrow range left the market looking for additional direction next week ($0.10 lower to $0.55 higher). The strong gains seen over the last couple of days have helped to spark additional longer-term market activity through the complex. This is leading to increased market trade and has the potential to draw commercial and investment trade back to the market. The lack of trade on Monday is keeping some traders out of the market already late Friday, as many are willing to wait until the middle of next week before stepping back into the complex. CME cash feeder index for 2/15 is $148.15, up $0.45.

 

Strong price support has quickly moved into livestock trade despite a sluggish start. The aggressive price move across the complex has been led by triple digit moves in feeder cattle markets, moving above $131 per cwt in nearby contracts
Live and feeder futures exploded higher with most months settling at new contract highs. Lean hog issues closed lower, pressured by long liquidation and the reassertion of cattle/hog spreads.
Sellers of hog futures finally took a breather at midweek, allowing contracts to settle mostly 30 to 112 higher. The cattle complex settled modestly higher, supported by light short-covering and profit-taking.
Sellers of hog futures finally took a breather at midweek, allowing contracts to settle mostly 30 to 112 higher. The cattle complex settled modestly higher, supported by light short-covering and profit-taking.
Sellers of hog futures finally took a breather at midweek, allowing contracts to settle mostly 30 to 112 higher. The cattle complex settled modestly higher, supported by light short-covering and profit-taking.
Lean hog futures closed lower with nearby contracts suffering triple-digit losses. The cattle complex closed substantially higher, supported by greater packer spending in the country and technical-buying.
Triple-digit losses quickly develop across the livestock complex late Thursday following a bounce in grain markets. Cash cattle trade has moved higher as packers have returned to the market as they look to fulfill procurement needs for next week at higher price levels.
Live and feeder cattle futures closed sharply lower, hammered by a combination of long-liquidation and technical selling. On the other hand, lean hog issues settled solidly higher with nearbys gaining on deferreds.
Live and feeder cattle futures closed sharply lower, hammered by a combination of long-liquidation and technical selling. On the other hand, lean hog issues settled solidly higher with nearbys gaining on deferreds.
Live and feeder cattle futures closed sharply lower, hammered by a combination of long-liquidation and technical selling. On the other hand, lean hog issues settled solidly higher with nearbys gaining on deferreds.
Follow-through pressure in feeder cattle futures quickly developed across the complex. Most cattle markets saw triple-digit losses as traders focused on additional liquidation. Hog trade also saw strong price pressure, focusing on uncertain fundamental shifts.
Follow-through pressure in feeder cattle futures quickly developed across the complex. Most cattle markets saw triple-digit losses as traders focused on additional liquidation. Hog trade also saw strong price pressure, focusing on uncertain fundamental shifts.

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