Choice Fed SteersSteady110 - 111
As of 7/17/19Top112
Dressed BasisSteady182 - 185
As of 7/17/19Top188
Boxed Beef Cutout-0.36212.57
200 loads
Wed PM


Western CornbeltNo Comp71.66
Iowa Lean Average+1.4872.18


60-80 lb Feeder Lambs(Billings, MT 7/15)Steady to +5161 - 169
80-100 lb Feeder Lambs(Billings, MT 7/15)Steady to +12149 - 160
Sl. Ewes(Billings, MT 7/15)Steady to -235 - 44
60-80 lb Feeder Lambs(Newell, SD 7/11)Lower146 - 150
80-100 lb Feeder Lambs(Newell, SD 7/11)Lower144 - 152
Sl. Ewes(Newell, SD 7/11)Steady to +349 - 54
Finished Lambs (Sioux Falls, SD 7/10)Steady145 - 155.50
80-100 lb Feeder Lambs(Bowman, ND 7/1)Steady159 - 163
Sl. Ewes(Bowman, ND 7/1)Steady to -940.50 - 54

Market Commentary

DTN reports:

Nearby lean hog contracts extended their rally late in Wednesday's session with gains of $2.95 in the August contract. Live cattle and feeder cattle, meanwhile, pulled back with modest losses.



Lower futures prices Wednesday, down $0.10 in the August live cattle contract, broke the short-term pattern of higher daily lows. Futures traders may be hesitating to extend the market's gains any further ahead of Friday's monthly Cattle on Feed report, which is expected to show the overall supply still growing but June placements and marketings lighter than last year (97%, the average amid a wide range of estimates). Also, the semi-annual Cattle Inventory report is expected to show a no-longer-expanding breeding herd and calf crop (the average of estimates is at 100%). Beef cutouts are lower, down $0.36 for choice at $212.57 and down $0.82 for select at $188.34, with light demand and heavy offerings.



Steady to $1 higher.

Some asking prices remain firm at $114 live and $186 plus dressed, but sellers may become more accepting in an uncertain supply scenario.



Relatively calm outside markets allowed the feeder cattle futures market to concentrate on its own line of business -- namely, correcting the overheated gains from earlier this month. The nearby August contract closed the day down $0.475, and the October contract lost $1.10. CME cash feeder index for 7/16 is $141.01, down $0.15.

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 CattleFax  

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