Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Midday Livestock Comments          01/18 11:38

   Firm Gains Redevelop in Cattle Trade  

   Increased buyer support has continued to develop across the live cattle and 
feeder cattle markets. This is helping to bring underlying support to the 
entire market. 

By Rick Kment
DTN Analyst


   Prices have moved higher in all livestock trade as follow through support in 
the cattle complex is leading the entire market higher. There is growing 
support through the rest of the market although traders continue to be very 
focused on the development in cash cattle trade through the end of the week. 
Corn prices are lower in light trade. March corn futures are 1 cent lower 
Thursday. Stock markets are mixed in light trade. The Dow Jones is 95 points 
lower while Nasdaq is up 3 points.


   Firm gains have held through the morning with nearby contracts holding 
support of 80 to 95 cents per cwt. The aggressive moves seen Wednesday has 
helped to bring buyers back to the table, although the overall tone of the 
market remains much less aggressive Thursday morning. There is the potential to 
bring some additional late day buyer support back into the market which could 
push prices to triple digit gains before closing bell. Cash cattle markets have 
shown some increased bidding activity through the morning with bids developing 
at $118 live basis, and $189 to $190 dressed. It may be Friday before active 
trade is seen. Asking prices are seen at $124 and higher live and $195 to $197 
dressed basis. Boxed Beef cut-outs at midday are higher, $1.38 higher (select) 
and up $0.34 per cwt (choice) with light movement of 95 total loads reported 
(57 loads of choice cuts, 30 loads of select cuts, no loads of trimmings, 9 
loads of ground beef). 


   Triple-digit gains have developed in front month futures as feeder cattle 
markets are still trying to assess the aggressive moves seen Wednesday. The 
underlying tone of the market remains firm with all nearby contracts holding 
gains of 90 cents to $1.10 per cwt at midday. The potential to draw buyers more 
aggressively back into the complex through the end of the session may add to 
the underlying market moves.   


   Narrow gains have been seen across the entire lean hog futures complex with 
markets seen steady to 10 cents higher in most contracts. This is allowing for 
some sluggish market activity to be seen through the entire complex. Increased 
buyer support may step into the market in the last couple hours of trade, 
although traders seem to be focusing on limited volume through the end of the 
week. Cash prices are lower on the National Direct morning cash hog report. The 
weighted average price is down $0.35 at $69.35 per cwt with the range from 
$62.00 to $70.50 on 4,138 head reported sold. Cash prices are lower on the 
Iowa/Minnesota Direct morning cash hog report. The weighted average price is 
down $1.33 at $68.39 per cwt with the range from $62.00 to $70.50 on 1,585 head 
reported sold. The National Pork Plant Report posted 131 loads selling with 
carcass values falling $0.09 per cwt. Lean hog index for 1/16 is at $72.99 up 
$1.07 with a projected two-day index of $73.55, up $0.56. 

   Rick Kment can be reached at 


Copyright 2018 DTN/The Progressive Farmer. All rights reserved.

For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN