Weather Canada Wx Futures Markets Quotes Charts Options Grain Market News Markets Page
 

 
Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Midday Livestock Comments          01/12 11:59

   Sluggish Trade Seen Across Livestock Complex

   There is expected to be very little additional direction developing across 
the livestock complex Friday. There is likely to be some increased late-day 
support developing ahead of the holiday weekend. 

By Rick Kment
DTN Analyst

GENERAL COMMENTS: 

   Light trade has developed through the livestock complex Friday morning. The 
most significant support is seen in feeder cattle futures. Narrow trading 
ranges are seen in live cattle and feeder cattle futures. Corn prices are lower 
in light trade. March corn futures are 2 cents lower Thursday. Stock markets 
are higher in light trade. The Dow Jones is 161 points higher while Nasdaq is 
up 41 points.

   LIVE CATTLE:

   Mixed trade in a narrow range has continued to draw buyer activity into the 
market although there is growing support through the market. Prices are 
hovering in a narrow range with prices hovering from 12 cents lower to 15 cents 
per cwt higher. There is very little additional support expected to develop in 
the market over the near future. Cash cattle business is essentially done for 
the week. Even though a few more clean-up deals may develop over the next 
couple of days, it is likely that prices will not move significantly over the 
near future. Cash trade appears to be done for the week following moderate 
activity that trickled into the market through the week. Activity will continue 
to develop over the next week, although interest may not be seen early in the 
week. Boxed beef cut-outs at midday are lower, $0.67 lower (select) and down 
$0.40 per cwt (choice) with light movement of 68 total loads reported (31 loads 
of choice cuts, 8 loads of select cuts, 14 loads of trimmings, 15 loads of 
ground beef). 

   FEEDER CATTLE:

   Firm gains have developed through the feeder cattle complex. The steady move 
higher helped to increased trade interest late Friday which continues to help 
support the entire complex. There is more focus expected to develop early next 
week, although buyer interest may be sluggish through early next week. There is 
likely to be some concern surrounding the lack of support in live cattle 
markets. 

   LEAN HOGS:

   Moderate support continues to develop in nearby contracts following 
increased buyer support ahead of the holiday weekend. Markets will remain 
closed Monday, with increased overall buyer activity seen in the February and 
April contracts. The overall buyer interest remains sluggish as traders focus 
on closing out the week. Cash prices are lower on the National Direct morning 
cash hog report. The weighted average price is down $0.03 at $69.87 per cwt 
with the range from $68.00 to $71.50 on 3,217 head reported sold. Cash prices 
are unreported due to confidentiality on the Iowa/Minnesota Direct morning cash 
hog report. The National Pork Plant Report posted 201 loads selling with 
carcass values adding $1.16 per cwt. Lean hog index for 1/09 is at $67.28 up 
$0.91 with a projected two-day index of $68.46, up $1.18.

   Rick Kment can be reached at rick.kment@dtn.com 


(BE)

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

DTN offers additional daily information available free through DTN Snapshot – sign up today.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN