Choice Fed Steers-2 to 3104 - 106
As of 10/26/20Top106.50
Dressed Basis-4 to 5163 - 166
As of 10/26/20Top166
Boxed Beef Cutout-1.13206.70
175 Loads
Tue PM
Western Cornbelt+0.5663.13
Iowa Lean Average+0.7363.42
CommodityLastChangeOpenHighLow
LIVE CATTLE October 2020104.850.88104.20105.03104.08
LIVE CATTLE December 2020104.050.65104.23105.35103.53
LIVE CATTLE February 2021107.030.63107.03108.10106.43
LIVE CATTLE April 2021110.731.23109.98111.60109.83
FEEDER CATTLE October 2020134.300.60133.50134.50133.45
FEEDER CATTLE November 2020132.301.73130.83133.08130.68
FEEDER CATTLE January 2021128.431.65127.28129.45126.95
FEEDER CATTLE March 2021128.051.60126.98128.90126.63
LEAN HOGS December 202067.65-0.1068.1869.6567.43
LEAN HOGS February 202168.050.4067.7069.3367.48
LEAN HOGS April 202170.380.3070.1371.4069.63
LEAN HOGS May 202174.700.2575.5075.5074.48
 

DTN reports:

Tuesday granted the livestock complex the opportunity to close higher and, with traders willing to jump into the marketplace again, the contracts did exactly that.

 

LIVE CATTLE:

The live cattle market took Tuesday and mustered up the most support. With cash cattle prices still at a mere standstill and boxed beef prices closing mixed, the market’s most significant business for Tuesday was the futures higher close. December live cattle closed $0.65 higher at $104.05, February live cattle closed $0.62 higher at $107.02 and April live cattle closed $1.22 higher at $110.72. Tuesday’s slaughter is estimated at 117,000 head, 4,000 head less than a week ago and 4,000 head more than a year ago. Monday’s cattle slaughter was revised to 115,000 head.

Boxed beef prices closed mixed: choice down $1.13 ($206.70) and select up $0.18 ($188.67) with a movement of 175 loads (104.81 loads of choice, 25.52 loads of select, 17.21 loads of trim and 27.60 loads of ground beef).

WEDNESDAY’S CASH CATTLE CALL:

Steady. It wouldn’t be surprising to see cash cattle trade start to develop sometime after Wednesday’s Fed Cattle Exchange. If the board will support higher prices, feeders will work to get cattle sold this week for at least steady prices.

 

FEEDER CATTLE:

Feeder cattle contracts closed fully higher, though they didn’t close as high as what the day had traded for earlier. November feeders closed $1.72 higher at $132.30, January feeders closed $1.65 higher at $128.42 and March feeders closed $1.60 higher at $128.05. Helping spark some support for the feeder cattle contracts is simply traders’ willingness to jump back into the market and actively trade, along with the corn market’s slight regression. At Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to a week ago, steer and heifers traded mostly $3.00 to $5.00 lower on a limited offering. The area was swept with a cold front that made shipping cattle difficult for this week’s sale. The CME feeder cattle index for Oct. 26: down $0.06, $133.64.

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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