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Market Snapshot

Cash Cattle Trend:

                            6/22/2018

The June 1 on feed report released this afternoon looks somewhat negative, especially in terms of May placement activity: on feed 104%; placement 100%; marketing 105%. Note that the average placement guess was 96%. Furthermore, last year's feedlot in-movement during May was historically large, the largest seen since 2007.

Fed Steers Live


 -2 to 4  107 - 110
Dressed Basis
-4 to 5  170 - 174

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Feeder Cattle Futures late Monday morning rallied higher with October contracts posting gains near $3 per cwt in reaction to buyers stepping back into the complex







Wheat Cash Trend

                                        6/22/2018

September Chicago wheat closed down 2 1/2 cents and September K.C. wheat was down 4 1/2 cents at $5.05 1/2, posting a loss of 28 3/4 cents on the week. Winter wheat did have two days of higher prices this week with concerns that too much rain on SRW wheat crop areas is damaging wheat quality. In the larger picture, however, there is no significant threat yet to the notion that world wheat production will only be marginally lower in 2018-19 and wheat supplies are likely to stay high. 

Local 12% Winter
-4 to 5 464 - 533
Local 14% Spring
-3 to 4 514 - 572

>> More Grain Cash & Futures - 

All three grains closed lower Thursday as mild summer temperatures blanketed the Midwest with another day of good growing weather



July soybeans fell another 21 3/4 cents Friday after President Trump approved roughly $50 billion of new tariffs against Chinese goods -- a move that may lead to retaliatory tariffs on U.S. soybeans as well as other goods. Corn and wheat ended the bearish week with small losses on Friday, while gold and crude oil saw sharp drops.



Featured Auction

    

Superior Livestock - 6/14   Region 2

550-590 lb Steers
155 - 186.50
600-635 lb Steers
 154 - 176
650-690 lb Steers
150 - 170
700-740 lb Steers
      146 - 169

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