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Daily Market Outlook and Analysis

Brought to you by Cattlefax

Aug. 5, 2019

After opening sharply lower, October was the only contract that ended lower in the live cattle complex. The remaining contracts settled $0.12 to $0.67/cwt. higher. Feeder cattle futures closed $0.45 to $1.17/cwt higher with the triple-digit gain coming in September. The CME feeder cattle index declined $0.10 to $141.61/cwt. After trading in a wide range, lean hog futures finished mixed, from $2.97 lower in May to $1.70/cwt. higher in October. The CME lean hog index increased $0.53 to $84.64/cwt. Corn added 5-3/4 cents, and soybeans ended unchanged. KC wheat finished up 5 cents. Cash fed cattle prices were $1 lower last week at $112.79/cwt. The weekly composite cutout moved $0.85 higher last week to $208.95/cwt. The 90% lean trimmings market decreased $1.21 last week to $221.53/cwt., nearing the $220/cwt. support. The 50s market averaged $76.91/cwt., decreasing $4.90 last week. The S&P 500 Index lost 87 points or 2.98 percent, and the Dow Jones Industrial Average dropped 767 points or 2.9 percent on bearish global trade speculation.

Futures Market Summary

Nearby Elec. ContractCloseChangeHighLow
Live Cattle$107.800$0.150$108.700$105.100
Feeder Cattle$140.525$0.900$142.500$135.800
Lean Hogs$77.850$1.575$78.300$74.300
Class III Milk$17.44$0.15$17.44$17.15
Corn$4.0525$0.0575$4.0675$3.9100
Soybean$8.5025$0.0000$8.5400$8.3725

USDA Beef Complex

ItemPriceChange
Choice$214.70($0.03)
Select$191.67$1.04
Drop Credit$8.97$0.00

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