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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

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Market Commentary

Market Commentary from the Northern Ag Network:

11/22/2017 3:00 PM

DTN reports: 

Meat futures rock the pre-Thanksgiving market with triple-digit gains. Nearby hog contracts soared, powered in part by bullish demand implications of smaller cold storage inventory.

LIVE CATTLE:

Evidence of steady/firm country sales Tuesday was enough to light a fire under live futures from the get-go Wednesday. Contracts settle 72 to 142 higher. Barring a major sell-off on Friday, Feb and April stand ready to close the week well over 40-day moving average. Beef cut-outs: mixed, up $.38 (choice: $209.01) to off $.01 (select: $188.64) with moderate to good demand and moderate to heavy offerings (84 loads of choice cuts, 43 loads of select cuts, 21 loads of trimmings, 25 loads of ground beef).

FRIDAY'S CASH CATTLE CALL:

Steady w/Tuesday's best. Clean-up action is certainly possible on Friday given trade volume totals barely moderate. Yet cash business could be done for the week.

FEEDER CATTLE:

Feeders gapped higher on the opening, and basically never looked back. Prices settled 110 to 145 higher, boosted by buyers watching renewed energy in deferred live contracts. CME cash feeder index: 11/21: 156.58, off .13.

 

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