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Cattle

Choice Fed Steers -2126 - 128
Week of 2/19/18

131.50
Dressed Basis 
Steady to -1203 - 205
Week of 2/19/18

Boxed Beef Cutout -0.32218.08
39 loads 
Thu PM

Hogs

Western Cornbelt-0.1463.58
Iowa Lean Average-0.13

63.71

Sheep/Goats

Finished Lambs (Billings, MT 2/12)Higher177 - 190
70-80 lb Feeders (Billings, MT 2/12)+15 to 25218 - 241
90-120 lb Feeders (Billings, MT 2/12)+15 to 25164 - 216
Sl. Ewes (Billings, MT 2/12)63 - 68
60-80 lb Sl. Kids (Billings, MT 2/12) 
220 - 230
-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:

2/22/2018 3:00 PM

DTN reports: 

Aggressive buyer support moved into the nearby lean hog futures trade Thursday. This continues to build off of midweek gains and increase the distance from recent lows. Cattle markets continue to shift lower in light trade.

LIVE CATTLE:

Mixed trade developed in the last half of the trading day with early pressure giving way to narrow gains in deferred contracts ($0.22 higher to $1.30 lower). The underlying tone of the market remains extremely weak with front-month February futures holding triple-digit losses. But the inability to follow the aggressive pressure seen midweek is actually helping to stimulate some expectations that prices may bounce higher at the end of the week. Beef cut-outs: higher, $0.14 higher (select, $212.06) and up $1.03 (choice, $218.40) with light demand and offerings (70 loads of choice cuts, 12 loads of select cuts, 5 load of trimmings, 11 loads of coarse grinds).

FRIDAY'S CASH CATTLE CALL:

Steady with early week Trade. It is expected that some additional trade will develop Friday unless another round of activity is seen late Thursday afternoon or evening. But the tone of the market is likely to be set, with prices through the rest of the week likely to be seen at $128 live basis and $204 to $205 dressed.

FEEDER CATTLE:

Light-to-moderate pressure redeveloped in feeder cattle trade. This left prices looking for longer-term support, but unable to find a sense of stability Thursday ($0.27 to $1.02 lower). Moderate nearby contract weakness led the complex lower with April futures holding a $1.02-per-cwt loss. Even the expected stability in overall feeder cattle placements in January that likely will be seen in the Cattle on Feed report was unable to draw buyers back to the market. Deferred futures posted narrow losses, with the more intensive pressure reserved for nearby trade. CME cash feeder index for 2/21 is $148.05 up $0.06.

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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