|Choice Fed Steers||+1||128 - 130|
|As of 3/22/19||Top||133|
|Dressed Basis||+4||205 - 208|
|As of 3/22/19||Top||209|
|Boxed Beef Cutout||-0.27||219.33
|Iowa Lean Average||+4.02||70.24|
|Finished Lambs||(Sioux Falls, SD 3/20)||+1 to 3||145 - 153|
|70-90 lb Feeder Lambs||(Billings, MT 3/11)||+5 to 10||189 - 215|
|90-110 lb Feeder Lambs||(Billings, MT 3/11)||+5 to 10||157 - 189|
|Sl. Ewes||(Billings, MT 3/11)||Steady to +3||50 - 57.50|
|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|
|3-5 yr old Bred Ewes||(Newell, SD 2/21)||165 - 197.50|
Hog futures showed their first signs of uncertainty Friday morning as traders pulled back from limit gains in summer trade. Trading stabilized late in the session, resulting in a mixed close.
Narrowly mixed trade left cattle markets directionless Friday ($0.40 lower to $0.40 higher). Live cattle trade struggled to find any sense of market support despite initial market gains through the complex. The lack of underlying support in beef values listed in the morning report as well as general shift in hog market direction seemed to cause most traders to hunker down and focus on market stability through the end of the week. Beef cut-outs: mixed, $0.27 higher (select, $218.64) and down $0.22 (choice, $229.09) with light demand and light to moderate offerings, 72 loads (43 loads of choice cuts, 8 loads of select cuts, 8 load of trimmings, 13 loads of coarse grinds).
MONDAY'S CASH CATTLE CALL:
Steady. Packers and feeders will start over Monday morning following late-day trade Friday, which pushed cash markets higher. Monday's session will be focusing on showlist distribution and inventory-taking.
Early support in feeder cattle gave way to a mixed close ($0.12 lower to $1.42 higher). Nearby contracts were narrowly mixed with limited interest developing through the entire complex. The USDA Cattle on Feed report, released following the market close, is expected to limit support early next week following cattle placement levels of 102%, which was 6% above early estimates. CME cash feeder index for 3/21 is $141.02, up $1.90
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