- Livestock Roundup
What to expect into the Cattle on Feed report
- WTI Crude Oil September 2018
Exceptional market guidance.
- MARKET UPDATE - GRAINS, MEATS, SOFTS
GRAINS NOT READY EXCEPT FOR WHEAT? Wheat is the only one in the grain complex that has rallied and closed over both the 10 & 20 avg. on its daily chart....
- MARKET UPDATE - METALS, ENERGIES, CURRENCIES
GOLD HEADED WHERE? Since the low in 2015 gold had formed an uptrend on its monthly chart. It has had three rally attempts to get back over.............
- Lots and Lots
Because of the volatility with...
- Lean Hog Discount Likely Overdone
Cash was lower yesterday and will likely come in soft/lower again today.
Agricharts Market Commentary
Lean hog futures settled with 5 to 30 cent gains in the front months, with Dec 15 cents lower. The CME Lean Hog Index was down 45 cents on July 17, to $79.15. The USDA pork carcass cutout value was up 34 cents on Thursday afternoon at $82.69. The picnic and rib were the only primal cuts reported lower. The national base carcass price was $69.25 in the Thursday AM report, down $1.32 from the day prior. USDA estimated weekly FI hog slaughter at 1.814 million head through Thursday. That is 82,000 head above last year, and up 3,000 head from the week previous. Pork export sales for the week that ended 7/12 totaled 19,735 MT. Shipments of pork were seen at 18,720 MT.Aug 18 Hogs closed at $67.250, up $0.050,Oct 18 Hogs closed at $52.225, up $0.300Dec 18 Hogs closed at $46.875, down $0.150
Live cattle futures ended the Thursday session mixed, with nearby Aug a nickel lower and back months higher. Feeder cattle futures were steady to 20 cents higher in the nearby contracts. The CME feeder cattle index was down 28 cents from the previous day at $148.31 on 7/18. Wholesale boxed beef values were lower on Thursday afternoon. Choice boxes were down 31 cents to $204.49, while Select boxes were 17 cents lower at $196.92. Estimated week to date FI cattle slaughter was 476,000 head through Thursday. That was up 11,000 from the same week last year but down 3,000 head vs. last week. Analysts are expecting to see a 1% increase from last year in all cattle and calves as of July 1. They also estimated that Friday’s Cattle inventory report will show beef cows up 0.9% from 2017’s mid-year report, with replacement heifers down 4.3%. Export sales of 13,518 MT of beef in the week of July 12 were shown by the USDA this morning. Weekly shipments were hit a marketing year high of 19,561 MT. Cash cattle bids were seen at $108 today, despite a couple small confirmed sales @ $112 on Wednesday’s FCE.Aug 18 Cattle closed at $108.900, down $0.050,Oct 18 Cattle closed at $110.650, unch,Dec 18 Cattle closed at $114.425, up $0.225,Aug 18 Feeder Cattle closed at $154.450, unch,Sep 18 Feeder Cattle closed at $154.775, up $0.125Oct 18 Feeder Cattle closed at $154.925, up $0.200