Choice Fed Steers+2105
As of 9/23/20Top105
Dressed Basis+1164
As of 9/23/20Top164
Boxed Beef Cutout+0.43215.87
169 Loads
Wed PM
Western Cornbelt-0.1664.23
Iowa Lean Average-0.2064.23
LIVE CATTLE October 2020107.150.68106.65107.48106.63
LIVE CATTLE December 2020111.201.03110.25111.55110.23
LIVE CATTLE February 2021114.800.60114.15115.28114.15
LIVE CATTLE April 2021116.850.48116.25117.28116.25
FEEDER CATTLE September 2020142.000.30141.73142.20141.48
FEEDER CATTLE October 2020141.530.90140.45141.63140.45
FEEDER CATTLE November 2020141.650.48140.95141.98140.65
FEEDER CATTLE January 2021139.950.50139.35140.35138.95
LEAN HOGS October 202069.501.1868.3069.5568.25
LEAN HOGS December 202064.350.2563.7864.5063.28
LEAN HOGS February 202169.080.0068.7369.2068.23
LEAN HOGS April 202172.20-0.0871.9872.6371.75

DTN reports:

Cattle contracts closed higher, giving feeders confidence in asking higher prices for this week’s cash cattle trade.



Wednesday’s support was a much-needed change of direction for the cattle contracts. Leading into the later part of the week, cash cattle sellers are wondering how much support they’d get for higher prices if the board traded lower throughout the week. October live cattle closed $0.67 higher at $107.15, December live cattle closed $1.02 higher at $111.20 and February live cattle closed $0.60 higher at $114.80. Feedlots are sticking to their guns and holding tough, waiting for the later part of the week, hoping to get another $1.00 or $2.00 out of packers. The countryside was quiet, extremely quiet, as packers’ bids were few and far in between and feedlots aren’t antsy to get cattle moved. Wednesday’s slaughter is estimated at 120,000 head, steady with a week ago and 2,000 head more than a year ago.

Boxed beef prices closed higher: choice up $0.43 ($215.87) and select up $1.30 ($207.60) with a movement of 169 loads (92.18 loads of choice, 30.38 loads of select, 11.38 loads of trim and 35.42 loads of ground beef).



Steady to $1.00 higher. With feedlots holding out until the later part of the week, packers will have to get aggressive in their purchasing if they want to buy any cattle this week.



After the noon hour passed, the feeder cattle complex was able to absorb some of the support that was building in the live cattle arena. October feeders closed $0.90 higher at $141.52, November feeders closed $0.47 higher at $141.65 and January feeders closed $0.50 higher at $139.95. The countryside sits in a transitioning period as some sale barns and auction yards are seeing calves coming to town a couple weeks early, while other sales are still mostly quiet waiting for the month of October to arrive before unleashing the hectic nature of the fall run. The CME feeder cattle index 9/22/2020: down $0.17, $142.28.

Links to More Futures Prices

Settlements on all Ag Futures and Options
Futures Quotes – Montana Market Manager – (AgriCharts) 

Links to Market Analysis

Ag Center – Cattle Report
Livestock Marketing Information Center
Kansas State –
North Dakota State – Livestock Economics
University of Missouri – Farm Marketing

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