- Cattle Futures Continue to Firm
Cattle futues continue to find buyers as they work higher to start the week.
- Are soybeans ready to breakout?
Soybeans found support last week and are starting this week off on firm footing.
- USDA Raises Stocks in Corn Wheat and Soybeans
Grain Markets are enjoying a bit of short covering after a negative report last Friday and larger than expected short positions by managed money funds....
- Cattle futures find technical support
Cattle futures finished the back half of the week with some momentum, can that continue into this weeks trade?
- Redux: Bubble of Historic Proportions
Keep probing short side of the debt markets.
- What does the USDA report mean for grain prices?
Fridays USDA report was a dud for corn, but wheat and beans look set for a bigger move.
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Lean hog futures finished Tuesday with most front contracts $1.05 to $2.325 higher. The CME Lean Hog Index was up $1.35 on January 12 at $71.15. The USDA pork carcass cutout value was down 38 cents at $81.45 in the Tuesday afternoon report. The loin and belly primals were both reported higher. The national base hog weighted average price was up 10 cents to $69.93 on Tuesday afternoon. The USDA FI hog slaughter was estimated at 859,000 through Tuesday, which is 115,000 larger than the same week last year, but 60,000 head lower than last week.Feb 18 Hogs closed at $73.900, up $2.325,Apr 18 Hogs closed at $76.150, up $1.825May 18 Hogs closed at $81.000, up $2.000
Live cattle futures saw gains of 25 to 92.5 cents in most contracts on Tuesday. Feeder cattle futures were up $1.10 to $1.275 in the front months. The CME feeder cattle index on January 15 was $145.38, down 46 cents from the previous day. Wholesale boxed beef values were sharply lower on Tuesday afternoon. Choice boxes averaged $2.45 lower at $205.58, with Select boxes down $2.15 per cwt at $199.89. Estimated weekly FI cattle slaughter was 236,000 head othrough Tuesday. That is even with last week. There are already reports of $118 bids in parts of the country on Tuesday.Feb 18 Cattle closed at $118.100, up $0.725,Apr 18 Cattle closed at $120.375, up $0.925,Jun 18 Cattle closed at $112.350, up $0.725,Jan 18 Feeder Cattle closed at $145.600, up $1.250Mar 18 Feeder Cattle closed at $143.925, up $1.275Apr 18 Feeder Cattle closed at $144.075, up $1.075