Cattle

Choice Fed Steers+2 to 3114 - 116
As of 11/8/19Top117
Dressed Basis+1 to 2181 - 182
As of 11/8/19Top185
Boxed Beef Cutout+1.91240.50
92 loads
Tue PM

Hogs

Western Cornbelt-0.1842.54
Iowa Lean Average-0.1742.55
 

DTN reports:

After the noon hour Tuesday cattle contracts made a mixed comeback and lean hog contracts fared exceptionally well.

 

LIVE CATTLE:

Live cattle contracts made a comeback after the noon hour Tuesdsay in deferred contracts. Closing the day mostly higher except in the spot and closest contract, live cattle contracts closed $0.02 to $0.12 higher. December live cattle are down $0.12 at $119.75, February live cattle are down $0.10 and April live cattle are up $0.10 at $127.05. Cash cattle trade has yet to present itself and most likely won’t get under way until Wednesday afternoon or sometime Thursday.

Closing boxed beef prices: choice up $1.91 ($240.50) and select up $2.54 ($216.23) with a movement of 92 loads (49.38 loads of choice, 19.16 loads of select, 6.51 loads of trim and 17.34 loads of ground beef). Tuesday’s slaughter is estimated at 119,000 head: steady with a week ago, and down 1,000 head from a year ago.

 

WEDNESDAY’S CASH CATTLE CALL:

$1.00 higher. Given that boxed beef prices are rallying still, feeder calf prices are up and that slaughter remains aggressive — cash cattle trade is aligning for another positive week so long as the board holds.

 

FEEDER CATTLE:

Feeder cattle contracts made the best of Tuesday after the noon hour and closed slightly higher in nearby contracts, and just mildly lower in deferred. November feeder cattle are up $0.22 at $147.80, January feeder cattle are steady at $147.12 and March feeders are up $0.12 at $146.82.

On and estimated run of 6,498 head (down 934 head from the previous week) all weights of steer calves sold steady to $2.00 higher. Heifer calves under 600 pounds sold steady to $1.00 higher with the exception of 450 to 500 pound heifers, which sold $3.00 to $5.00 higher, heifers over 600 pounds sold $3.00 to $5.00 higher with instances of $8.00 higher. Trade was very active, and demand was good. The CME feeder cattle index for 11/11/19: up $0.53 at $147.25.

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 – AgManager.info
North Dakota State – Livestock Economics
University of Missouri – Farm Marketing
CattleFax
 

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