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Cattle

Choice Fed Steers+1 to 2117 - 119
As of 12/7/18          


Dressed Basis 
+2 to 3185 - 187
As of 12/7/18 

Boxed Beef Cutout -0.96214.46
133 loads 
Tue PM

Hogs

Western Cornbelt-0.0846.26
Iowa Lean Average+0.18

46.43

Sheep/Goats

Finished Lambs (Sioux Falls, SD 12/5)+1 to 2127 - 135
60-80 lb Feeder Lambs (Newell, SD 12/6)Steady to +5172 - 266
80-100 lb Feeder Lambs (Newell, SD 12/6) Steady to +5146 - 165
Sl. Ewes (Newell, SD 12/6)+2 to 4 46 - 54
-2 to 5
-2 to 5
+20 to 30

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Market Commentary

Market Commentary from the Northern Ag Network:

12/11/18 3:00 PM

DTN reports:

Aggressive buyer support quickly flooded into feeder cattle futures Tuesday, sparking triple-digit gains in all contracts and expanded recent gains off of short-term lows. Follow-through buying developed across the livestock complex through the session.


LIVE CATTLE:

Firm underlying support slowly but steadily developed Tuesday as traders continue to focus on widespread cattle gains. Futures closed $0.55 to $0.95 higher. Early lackluster trade limited overall buyer support through the entire complex. This kept prices mixed in a single-digit range early Tuesday, but the ability for buyers to quickly and aggressively shift feeder cattle futures sharply higher with no resistance sparked additional buying in all contracts. Beef cut-outs: mixed, $0.45 higher (select, $201.39) and down $0.96 (choice, $214.46) with light demand and offerings, 133 loads (99 loads of choice cuts, 18 loads of select cuts, 6 load of trimmings, 10 loads of coarse grinds).

 

WEDNESDAY'S CASH CATTLE CALL: 

Steady. Cash market activity remains directionless and will likely remain that way early Wednesday morning. This could allow for only limited direction to be seen over the next couple of days with trade expected to be pushed off until late in the week.

 

FEEDER CATTLE: 

Feeder cattle buying sparked renewed underlying support through the entire cattle complex following triple-digit gains in all feeder cattle contracts. Futures closed $1.15 to $2.27 higher. Early buyer interest flooded into feeder cattle markets despite the lack of confidence seen in most other markets. With early trade in live cattle futures mixed in a narrow range and most grain markets showing limited life at all, traders quickly pushed spot-month feeder cattle contracts sharply higher. January futures traded from $2 to $2.60 per cwt higher through most of the session, although limited activity during afternoon trade pulled prices away from session highs. CME cash feeder index for 12/10 is $144.96, up $0.90.

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.



Lean hog futures closed widely mixed in the wake of the June 1 Hogs and Pigs report with nearby issues higher and deferred contracts significantly lower. The cattle complex finished the week sharply higher for the most part, supported by aggressive short-covering and technical-buying.

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