Feeder Cattle Futures Market News and Commentary
The cattle futures trade is mixed so far into the new week, as fats are gaining to the feeders pullback. Front month fat cattle gains are limited to 50 cents for midday. Feeders are down by 35 to 75 cents across the front month contracts. There have been no Dec cattle deliveries issued, with the oldest long listed as 7/15. There were a few $166-$168 sales reported on Friday, but USDA maintained the bulk of sales for the week was near $171. The CME Feeder Cattle Index was $220.04 on 12/07, another $2.22 weaker.
USDA’s AM Boxed Beef report had Choice back up by $2.44 and Select back up by $3.05. The weekly recap from USDA had beef production at 532.5 million lbs for the week, a 0.5% increase wk/wk but a 1.8% drop yr/yr. Cattle slaughter totaled 635k head, which matches last week but is 2% below the same week last year. YTD production and slaughter were reported at 25.034b lbs (-5.2% year/year) and 30.459m hd (-4.7%) respectively.
Dec 23 Cattle are at $165.800, up $0.350... Read more
- Mixed Cattle Market for Monday’s Midday
The cattle futures trade is mixed so far into the new week, as fats are gaining to the feeders pullback. Front month fat cattle gains are limited to 50...
- Hogs Dropping Triple Digits at Midday
The lean hog futures market is trading at the lows for the day with prices $1.20 to $2.20 in the red. Monday morning’s National Average Base Hog price...
- Brazilian Corn Production Estimates and Weather Concerns: How it’s Affecting US Corn Futures
Last week US corn futures were moderately higher on neutral fundamental data. The December WASDE report on Friday, 12/8 provided no new major data points...
- Weekly Cattle Chart Settled Red, Feeders in the Black
Live cattle limited the week’s draw down with a triple digit gain of as much as 2% on Friday. Feb fats were up by $3.20 for the day, but still down by...
- Lean Hogs to Follow Red Week
Lean hog futures finished the last trade day of the week with $0.87 to $1.52 gains. For Feb, that reduced the week’s loss to $1.12. The National Average...
- USDA tightens US and global wheat stocks
Key Live cattle chart gaps filled