- Turnaround Tuesday in Cattle
Turnaround Tuesday lived up to the hype today, can it continue?
- Trade Spotlight: Futures (Lean Hogs)
The post Trade Spotlight: Futures (Lean Hogs) appeared first on Daniels Trading. This is a sample entry from Don DeBartolo’s email newsletter, Trade...
- Hams and Bellies Showing Signs of a Top
The early call looks flat to lower for cash hog prices. Traders keep talking about LC being oversold.
- Grains Ahead of the USDA Report
Grain markets were under pressure yesterday ahead of todays USDA report.
- Seasonal Live Cattle Trade
Cattle have been under pressure recently but can a seasonal trend halt the pressure?
- Lean Hogs Feb 18 For Dec 12
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Live cattle futures finished the Tuesday session with most contracts 80 cents to $1.425 higher. Feeder cattle futures were $1.65 to $2.225 higher in most contracts. The CME feeder cattle index on December 11 was down 43 cents to $153.89. Wholesale boxed beef values were mixed on Tuesday afternoon. Choice was down $1.47 at $204.06, with select 26 cents higher at $185.92. Estimated week to date FI cattle slaughter was 236,000 head through Tuesday, 3,000 head fewer than the previous week but 6,000 head larger than the same week last year. The FCE has 704 head of cattle listed for Wednesday morning’s online auction. The USDA trimmed estimated fourth quarter beef production by 95 million pounds to 6.87 million billion pounds. The 4Q figure is still the largest in at least 14 years. Production for 2018 was cut 30 million pounds to 27.59 billion pounds.Dec 17 Cattle closed at $116.150, up $0.975,Feb 18 Cattle closed at $119.150, up $1.425,Apr 18 Cattle closed at $120.975, up $1.350,Jan 18 Feeder Cattle closed at $147.100, up $1.650Mar 18 Feeder Cattle closed at $145.300, up $1.975Apr 18 Feeder Cattle closed at $145.325, up $1.875
Lean hog futures ended the day 15 cents higher in the nearby Dec contract, as the rest of the back months were 20 to 65 cents lower. The CME Lean Hog Index for 12/8 was down 31 cents to $65.17. The USDA pork carcass cutout value was down 57 cents at $81.12 in the Tuesday afternoon report. The belly was reported at $11.46 lower, with the other cuts higher. The national base hog price was 72 cents lower at $58.15 this afternoon. The WCB was down 94 cents, with the IA/MN region 98 cents lower. The USDA daily FI hog slaughter was 932,000 head WTD through Tuesday. That was up 1,000 head from the previous week and 49,000 head more than the same week last year. The USDA updated the pork production table this morning, trimming 180 million pounds off the fourth quarter production to 6.775 billion pounds. They also lowered 2018 production 10 million pounds to 26.915 billion pounds.Dec 17 Hogs closed at $63.750, up $0.150,Feb 18 Hogs closed at $66.525, down $0.500Apr 18 Hogs closed at $71.175, down $0.650