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Cattle

Choice Fed Steers  + 2106 - 110
Week of 9/18/17      49,036 head
110
Dressed Basis 
+2 to 5169 - 176


176
Boxed Beef Cutout +0.09191.60
60 loads
Fri PM

Hogs

Western Cornbelt-0.5248.94
Iowa Lean Average-0.35

49.08

Sheep/Goats

Finished Lambs (Ft. Collins, CO 9/21)+1140 - 141
60-80 lb Feeder(Ft. Collins, CO 9/21)135 - 158
80-100 lb Feeders (Ft. Collins, CO 9/21)137.50 - 156
Sl. Ewes (Ft. Collins, CO 9/21)71 - 87.50
-2 to 5
-2 to 5

Livestock Market News

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Market Commentary

Market Commentary from the Northern Ag Network:

9/22/2017 3:00 PM

DTN reports: 

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.

LIVE CATTLE

Futures closed moderately to sharply higher, up 7-147. The board was well supported by news of greater packer spending for ready cattle. October and December was further supported by bull-spreading and technical-buying. Note that December closed near the top of the bearish gap created in late July. The Sept. 1 On Feed report turned out to be somewhat negative thanks to larger-than-expected placement activity in August: on feed up 4%; placed in August up 3%; and marketed in August up 6%. Beef cut-outs: steady to firm (choice, $191.60 up $0.09, select $188.73 up $0.32) on light-to-moderate demand and moderate offerings (61 loads of choice cuts, 19 loads of select cuts, 19 loads of trimmings, 26 loads of coarse grinds).

MONDAY'S CASH CATTLE CALL:

Steady to $2 higher. Monday will be typically slow with packers focused on the assessment of new showlists. We look for the ready cattle offering to be about steady with this week.

FEEDER CATTLE:

Futures closed moderately higher up 22-67. Feeder issues were well supported by strength in the live market and decent commercial buying interest. CME cash feeder index: 09/21: $151.44, up $0.33.

 

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.

Livestock Futures