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Daily Market Outlook and Analysis

Brought to you by Cattlefax

Jan. 10, 2019

Narrow gains were noted for live cattle futures, closing $0.02 to $0.15/cwt. higher led by the August contract. Feeder cattle futures ended mixed, from $0.07/cwt. lower in the nearby January contract to $0.20 higher in April contract. The CME feeder cattle index lost $0.15 to $145.55/cwt. Lean hog futures also settled mixed. Losses of $0.30 to $0.60 were quoted, mostly in the summer contracts, while higher moves of $0.22 to $0.30/cwt. came in the front two contracts and the deferreds. The CME lean hog index added $0.25 to settle at $55.10/cwt. It was red across the board for the grain complex as corn finished down 5-3/4 cents. Soybeans tumbled 17-1/4 cents, and the bearish pressure spilled over to KC wheat as the March contract dropped 6-3/4 cents. The S&P 500 Index was up 0.45 percent or 11.68 points on the day.


Futures Market Summary

NearbyElecContract Close Change High Low
Live Cattle $124.875 $0.075 $125.150 $124.575
Feeder Cattle $146.750 ($0.075) $147.000 $146.325
Lean Hogs $64.075 $0.300 $64.225 $63.100
Class III Milk $14.08 $0.03 $14.08 $14.03
Corn $3.7625 ($0.0575) $3.8275 $3.7600
Soybean $8.9550 ($0.1600) $9.1125 $8.9500

USDA Beef Complex

Item Price Change
Choice $213.96 $0.12
Select $207.77 $1.30
Drop Credit $9.00 $0.00

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