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Cattle

Choice Fed Steers-3109 - 112
As of 8/10/18          

(top) 113
Dressed Basis 
-3173 - 179
As of 8/10/18 

Boxed Beef Cutout +1.82208.43
103 loads 
Mon PM

Hogs

Western Cornbelt-1.5443.62
Iowa Lean Average-1.59

43.63

Sheep/Goats

Finished Lambs (Billings, MT 8/13)Hair Sheep121 - 129
70-90 lb Feeder Lambs (Billings, MT 8/13)-3140 - 151
90-100 lb Feeder Lambs (Billings, MT 8/13)Steady136 - 145.50
Sl. Ewes (Billings, MT 8/13)Higher47 - 54
-2 to 5
-2 to 5
+20 to 30

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Market Commentary

Market Commentary from the Northern Ag Network:

8/13/18 4:00 PM

DTN reports:

Live and feeder contracts settled under a good deal of selling pressure with nearbys losing ground to deferreds. Lean hog issues closed on a mixed basis with front months gaining on the back of the board.

LIVE CATTLE:

Pressured by lower feedlot sales on Friday and fears of additional country weakness still waiting in the wings, live cattle futures closed Monday with triple-digit losses scored in the first three issues (i.e, August, October and December). Beef cut-outs: sharply higher, up $1.82 (choice: $208.43) to $1.89 (select: $199.66) with good demand and moderate offerings (51 loads of choice cuts, 26 loads of select cuts, 8 loads of trimmings, 18 loads of ground beef).

 

TUESDAY'S CASH CATTLE CALL:

Steady to $1 higher. Look for trade on Tuesday to be typically quiet with bids and asking prices to be poorly defined until Wednesday or later.


FEEDER CATTLE:

Feeders started the week mindful of retreat. Contracts settled 20 to 125 points lower with nearby contracts dropping harder than deferred counterparts. On an estimated run of 7,200 (up from 6,000 last week and 4,001 in 2017), Oklahoma City sold feeder steers and heifers $1-3 lower. Steer and heifers calves were mostly marked $1 lower in a light test. CME feeder index 08/10: $151.12, unch..

 

 

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.



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.

Livestock Futures