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Cattle

Choice Fed SteersSteady125
As of 2/15/19         

127 (top)
Dressed Basis 
Steady200
As of 2/15/19

Boxed Beef Cutout +0.78216.85
102 loads 
Fri PM

Hogs

Western Cornbelt-2.3446.47
Iowa Lean Average-2.17

46.73

Sheep/Goats

Finished Lambs (Sioux Falls, SD 2/6)Lower126 - 132.50
60-80 lb Feeder Lambs (Billings, MT 2/12)+9 to 12201 - 234
80-100 lb Feeder Lambs (Billings, MT 2/12) Steady161 - 198.50
Sl. Ewes (Billings, MT 2/12) Steady47 - 56
Bred Ewe Lambs (Billings, MT 2/12)
160 - 225
Bred Yearling Ewes (Billings, MT 2/12) 225 - 335
2-3 yr old Bred Ewes (Billings, MT 2/12) 200 - 250
4-5 yr old Bred Ewes (Billings, MT 2/12) 150 - 225
-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:

2/15/19 3:00 PM

DTN reports:

Lean hog futures settled mostly higher Friday as traders adjusted positions before exiting the market for the long weekend. Meanwhile, feeder cattle futures saw sharp losses.

LIVE CATTLE: 

Feeder cattle futures closed mixed ($0.25 lower to $0.10 higher). Traders quickly changed direction Friday, moving from firming midweek support to end-of-the-week profit-taking. Strong losses create several concerns for the live cattle complex, which will have to wait until Tuesday for additional direction. The expectation that cash cattle trade would develop late in the day and move higher Friday helped to limit selling activity. But traders remain extremely cautious and concerned about future costs and long-term beef demand. Beef cut-outs: higher, up $0.58 higher (select, $210.99) and up $0.78 (choice, $216.85) with good demand and good-to-moderate offerings of 102 loads (58 loads of choice cuts, 11 loads of select cuts, 13 load of trimmings, 20 loads of coarse grinds).

 

MONDAY'S CASH CATTLE CALL: 

Steady. Packers and feeders will return to work Monday even though futures markets will be closed. The focus will be on showlist distribution and inventory-taking. Bids and asking prices are unlikely Monday.

 

FEEDER CATTLE: 

Sharp losses flooded the feeder cattle trade Friday with futures closing $0.55 to $1.47 lower. Nearby contracts not only broke away from midweek gains, but also broke through initial support, causing traders to quickly and aggressively back away from the market. Growing concern about what any trade deal with China will involve and how it will affect grain markets is the greatest focus of feeder cattle trade at this point. A significant turnaround in corn or soybean prices could quickly shift the focus in feeder cattle due to unknown changes in production costs. CME cash feeder index for 2/14 is $141.31, down $0.19.

 

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.

Moderate-to-firm pressure swept through livestock trade Monday, eroding lean hog and feeder cattle futures. Limited activity may continue through the first half of the week due to sideways trading ranges.
Moderate-to-firm pressure swept through livestock trade Monday, eroding lean hog and feeder cattle futures. Limited activity may continue through the first half of the week due to sideways trading ranges.

Livestock Futures