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Daily Market Outlook and Analysis

Brought to you by Cattlefax

April 17, 2019

Moderate volume of fed cattle trade occurred today in the South at $126/cwt., $2 higher than last week. Live cattle futures settled mixed from $0.22/cwt. lower in the nearby April to $0.60 higher in the deferreds. Feeder cattle futures followed suit with losses of $0.35 and $0.60/cwt. coming in the front two contracts and then gains of $0.25 to $0.92/cwt. coming in the backend. The CME feeder cattle index ticked up $0.12 to $143.58/cwt. Lean hog futures ended $0.05 to $1.00 lower in the front half, followed by $0.35 to $1.20 improvements in the back half. The CME lean hog index increased $0.27 to $79.84/cwt. Corn finished down just ¾ cents, and soybeans lost 9 cents to the lowest close in over five months. KC wheat added 3-1/2 cents. Twelves lots, totaling 1,269 head, in Nebraska sold today on the Fed Cattle Exchange from $127 to $127.25/cwt.

Futures Market Summary

NearbyElecContract Close Change High Low
Live Cattle $126.925 ($0.225) $127.475 $126.525
Feeder Cattle $145.325 ($0.350) $145.750 $145.200
Lean Hogs $88.925 ($0.050) $89.700 $87.600
Class III Milk $15.92 ($0.03) $15.94 $15.91
Corn $3.5825 ($0.0075) $3.6000 $3.5675
Soybean $8.7900 ($0.0900) $8.9050 $8.7850

USDA Beef Complex

Item Price Change
Choice $232.76 $0.71
Select $220.16 ($0.99)
Drop Credit $9.18 $0.00

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