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Cattle

Choice Fed Steers-2 to 4107 - 110
As of 6/22/18         


Dressed Basis 
-4 to 5170 - 174
As of 6/22/18 

Boxed Beef Cutout -0.25217.16
93 loads 
Fri PM

Hogs

Western Cornbelt-2.3479.15
Iowa Lean Average-2.61

79.02

Sheep/Goats

Finished Lambs (Sioux Falls, SD 6/20)Steady160 - 169
60-80 lb Feeders (Sioux Falls, SD 6/20)-10 to 15170 - 190
80-100 lb Feeders (Sioux Falls, SD 6/20)Lower151 - 170
Sl. Ewes (Sioux Falls, SD 6/20)-10 to 1535 - 48
-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:

6/20/18 3:30 PM

DTN reports:

Hog futures broke hard again, troubled by long liquidation and the possible inadequacy of midsummer pork demand. On the other hand, cattle paper closed moderately higher, for the most part, supported by short-covering and recent cash premiums.


LIVE CATTLE:

2017 live cattle issues closed 22 to 77 higher, supported by short-covering and cash premiums. Spot June nosed back above its 100-day moving average while remaining well below last week's high of $110.65. August momentarily spiked above its 100-day moving average for the first time since early March, though closed right below that technically important threshold. The board appeared to be generally supported by ideas that short-bought packers would eventually be compelled to raise bids toward asking prices. Beef cut-outs: sharply lower, off $1.25 (select: $201.05) to $1.41 (choice: $218.29) with light-to-moderate demand and heavy offerings (89 loads of choice cuts, 37 loads of select cuts, 20 loads of trimmings, 19 loads of ground beef).

THURSDAY'S CASH CATTLE CALL:

Steady to $2 lower. Despite last week's slow country movement, neither sides seems eager to quickly put wheels under the cash trade. Barring a major collapse in futures, significant trade volume could be delayed until Friday.

FEEDER CATTLE:

For the most part, feeder futures settled 5 to 57 lower with only spot August finishing somewhat in the red (i.e., off 20). Nevertheless, August held above 62% retracement of the first-quarter sell-off. CME feeder index 06/19: $141.41, off $0.07.

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.



Livestock Futures