Northern Ag Network
Northern Ag Network
Northern Broadcasting System    Northern News Network    Northern Sports Network
Search This Site...
Search This Site...

Cattle

Choice Fed Steers Week of 11/20/17  Steady118 - 120


120
Dressed Basis 
Steady188 - 190
Week of 11/20/17
190
Boxed Beef Cutout +0.38209.01
173 loads 
Wed PM 

Hogs

Western Cornbelt-0.0556.81
Iowa Lean Average-0.04

56.81

Sheep/Goats

Finished Lambs (Sioux Falls, SD 11/15)-3 to 5123 - 131
60-80 lb Feeder(Newell, SD 11/16)-10 to 121614 - 182
80-100 lb Feeders (Newell, SD 11/16)-10 to 12138 - 160
Sl. Ewes (Newell, SD 11/16)+11 to 1357 - 72
-2 to 5
-2 to 5

Livestock Market News

>> More Livestock Market News

Market Commentary

Market Commentary from the Northern Ag Network:

11/21/2017 3:00 PM

DTN reports: 

Triple-digit gains have quickly flooded into the cattle complex late morning. This is bringing additional market support to the cattle market, although the support is not expected to gain significant long term momentum given the previous market pressure and overall light volume. Hog futures have shifted lower in light trade Tuesday. Corn prices are higher in light trade. December corn futures are 1 cents per bushel lower. Stock markets are higher in light trade. The Dow Jones is 180 points higher while Nasdaq is up 64 points

LIVE CATTLE:

 

Triple-digit support has moved back into the market late Tuesday morning with the focus on aggressive buyer support in feeder cattle futures as well as higher beef values and the development of cash trade Tuesday morning. Gains are tightly grouped even though volume remains lackluster in most areas with prices $1.10 to $1.50 per cwt higher in most regions. There continues to be increased buyer support which is likely to continue through the end of the session. These moves are not expected to gain long term support as the upward shifts are generally replacing losses seen Monday. 


TUESDAY'S CASH CATTLE CALL:

Cash cattle trade has started to develop with sales through the South seen at $118 per cwt. These prices are generally $1 per cwt lower than last week. At this level, it is expected that most if not all of the trade in the South is likely to be wrapped up before the end of the day. Bids are seen across the North at $117 to $118 live and $186 per cwt dressed. It is uncertain if trade will be seen before the day is over, or if feeders will hold out until Wednesday before pulling the trigger.


FEEDER CATTLE:

Buyer support has quickly stepped back into the complex midday following lackluster market activity through much of the morning. Prices have rallied as much as $2.12 per cwt higher while setting session highs due to additional support focused on the development of cash market activity Tuesday. Prices could move even higher through the end of the session as very little market resistance is expected to develop through most of the session.

 

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.

Livestock Futures