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Cattle

Choice Fed Steers -2 128 - 133
  Trend week of 5/22133
Dressed Basis   
-3 to 5208 - 210
   Trend week of 5/22
210
Boxed Beef Cutout -0.51245.60
103 loads
Fri PM

Hogs

Western Cornbelt-1.2871.19
Iowa Lean Average-0.99

71.32

Sheep/Goats

Finished Lambs (Sioux Falls, SD 5/24)Steady200 - 210
60-80 lb Feeder (Sioux Falls, SD 5/24)Lower195 - 245
80-100 lb Feeders (Sioux Falls, SD 5/24) Lower200 - 228
Sl. Ewes  (Sioux Falls, SD 5/24)Lower52 - 64
60-80 lb Sl. Kids (Sioux Falls, SD 5/24)Steady 175 - 265 

Livestock Market News

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Market Commentary

Market Commentary from the Northern Ag Network:

 5/25/2017 3:00 PM

DTN reports: 

The cattle complex closed sharply lower right before the holiday recess, pressured by long-liquidation and the negative implications of the May 1 on-feed report. On the other hand, summer lean hog contracts closed the week with solid gains, supported by bull-spreading and ideas of strengthening seasonal fundaments.

LIVE CATTLE:

Futures closed sharply lower, off 122-285. Before the release of the on-feed report at 11 a.m. CDT, losses here were no worse than moderate in light volume as profit-taking and long-liquidation took their late-week toll. Yet after the government confirmed larger-than-expected April placement activity, selling interest accelerated, tied both to commercial hedgers and specs covering long positions. The May 1 on-feed report looks like this: on feed up 2%; placed in April up 11%; and marketed in April up 3%. Beef cut-outs: weak (choice, $245.60 off $0.51, select $218.45 off $0.53) on light-to-moderate demand and offerings (47 loads of choice cuts, 39 loads of select cuts, 03 loads of trimmings, 15 loads of coarse grinds).

TUESDAY'S CASH CATTLE CALL:

Steady to $2 lower. Tuesday's activity will be limited to the collection of new showlists. Additionally, both buyers and sellers will pause to evaluate the success of Memorial Day meat clearance. 

FEEDER CATTLE

Futures closed sharply lower, off 352-430. Feeders also took the on-feed news hard. Indeed, feeder contracts lost significantly more ground than their live counterparts. The additional selling energy may have been tied to the discounted status of the cash index as well as the firming action of late week corn. CME cash feeder index: 05/25: $143.89, up $0.80.

 

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.

Livestock Futures