- Is the cattle rally out of gas?
Cattle have seen a nice run recently, but is it time for futures to take a breather?
- MAR 18 Cotton
Highly Accurrate Straight to the Point Technical Analysis
- The Show List is Smaller This Week
The NAFTA talks resume today in Montreal. Live cattle opened higher and closed higher yesterday in impressive fashion.
- Soybeans Testing Technical Resistance
Soybean futures have rallied for six consecutive sessions and are working on their seventh, can they break out above significant resistance?
- Updated La Nina Outlook Today
Grain Markets remain focused on South America and the potential for yield losses as some areas look to suffer from too much rain, while others aren't...
- Cattle Gap Higher
Cattle futures firmed to start the week and are pressing against resistance.
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Live cattle futures closed Tuesday with gains of 50 to 82.5 cents in most contracts, as nearby Feb was up $1.175. Feeder cattle futures, helped by lower corn, were $1.15 to $1.90 higher, with soon to expire Jan up 72.5 cents. The CME feeder cattle index was up 34 cents on January 22 at $147.88. Wholesale boxed beef values were higher on Tuesday afternoon. Choice boxes were up $1.78 at $206.85, with Select boxes 64 cents higher at $200.16. Estimated week to date FI cattle slaughter was at 199,000 head through Tuesday. That is down 37,000 from last week and 27,000 from the same week last year because of Monday’s blizzard in NE/IA/MN. Ahead of Friday’s COF report, analysts are expecting to see placed cattle during December down 3.1% from a year ago, with larger placement numbers in previous months leaving fewer open pens.Feb 18 Cattle closed at $124.725, up $1.175,Apr 18 Cattle closed at $124.800, up $0.825,Jun 18 Cattle closed at $116.300, up $0.750,Jan 18 Feeder Cattle closed at $148.625, up $0.725Mar 18 Feeder Cattle closed at $146.975, up $1.150Apr 18 Feeder Cattle closed at $147.725, up $1.250
Lean hog futures showed mixed trade on Tuesday, with nearby Feb up 45 cents and most back months 17.5 to 62.5 cents lower. The CME Lean Hog Index was down 27 cents on January 19 at $73.40. The USDA pork carcass cutout value was 86 cents higher at $83.03 in the Tuesday afternoon report. The belly was the only primal reported lower, down $4.34. The national base hog weighted average price was down 25 cents to $69.41. The USDA estimated weekly FI hog slaughter at 851,000 through Tuesday, which is 1,000 larger than last week, but 15,000 head fewer than this week last year. The Cold Storage report release will be delayed until Wednesday, due to Monday’s government shutdown.Feb 18 Hogs closed at $72.250, up $0.450,Apr 18 Hogs closed at $74.650, down $0.475May 18 Hogs closed at $79.400, down $0.250