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Cattle

Choice Fed Steers+2 to 4119 - 122
As of 4/19/18

122
Dressed Basis 
Steady to +2190 - 192
As of 4/19/18

Boxed Beef Cutout -0.30211.34
185 loads 
Thu PM

Hogs

Western Cornbelt+3.3558.10
Iowa Lean Average+3.53

58.30

Sheep/Goats

Finished Lambs (Ft. Collins, CO 4/18)+8 to 9130 - 160
80-100 lb Feeders (Billings, MT 4/16)Steady175 - 180
Sl. Ewes (Billings, MT 4/16)-2 to 356 - 70
60-80 lb Sl. Kids (Billings, MT 4/16) Steady260 - 270
-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:

4/19/2018 3:00 PM

DTN reports:

After opening higher on signs of greater packer spending in the country, live cattle futures turned over near midsession and closed with triple-digit losses. Lean hog contracts settled moderately lower for the most part, checked by profit-taking and spillover selling from the cattle board.

LIVE CATTLE:

 

Although live issues opened some higher, and although the cash trade produced definitely bullish news near midmorning, board bulls could not avoid breaking hard near midsession and closed with triple-digit losses (i.e., off 117 to 227). Spot April actually stumbled into a key reversal. The historically huge spread between April and June just keeps inflating, a definite sign of the summer's deep supply worries. Beef cut-outs: lower, off $0.09 (select: $198.48) to $0.30 (choice: $211.34) with light-to-moderate demand and moderate-to-heavy offerings (101 loads of choice cuts, 49 loads of select cuts, 8 loads of trimmings, 28 loads of ground beef).

FRIDAY'S CASH CATTLE CALL:

Steady/firm with Thursday. While cash business in the South may be done for the week, Northern buyers and sellers will have to come to terms sometime Friday. Showlists will probably start out priced around $192-$194 on a dressed basis.

FEEDER CATTLE:

Feeders crashed along with their lean counterparts, closing 118 to 235 in the red. The August chart looks especially frustrated. Once again, the late-summer contract was stopped by the tough combination of the 50% retracement of the first-quarter price drop and the 40-day moving average. CME cash feeder index for 04/18: $137.12, off $0.78.

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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