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Daily Market Outlook and Analysis

Brought to you by Cattlefax

Friday, July 12, 2019

Fed cattle trade in the North, while not completed, was mostly $114 live and $182 to $183 dressed – $1 to $3 higher than last week. Trade has not occurred in the South as of press time; however, the market undertone is $2 to $3 higher. Prices last week were mostly $109. Boxed beef was quoted $4 to $5 lower on the week, as minimal fill-in buying occurred after above average clearance was noted over the long holiday weekend. Feeder cattle ranged from $2 to $7 higher compared to last week. Calves traded mostly steady to $4 higher. Market cows traded mixed, from $1 lower to $4 higher. Corn ended the week up 15 cents/bushel

Futures Market Summary

Nearby Elec Contract Close Change High Low
Live Cattle $108.475 $0.600 $108.725 $107.725
Feeder Cattle $141.600 ($1.025) $142.800 $140.450
Lean Hogs $71.050 ($0.550) $71.925 $71.000
Class III Milk $17.35 $0.00 $17.38 $17.34
Corn $4.4950 $0.0175 $4.5700 $4.4775
Soybean $9.0675 $0.1050 $9.0425 $9.0225

USDA Beef Complex

Item Price Change
Choice $213.77 ($0.65)
Select $190.79 ($0.10)
Drop Credit $8.55 $0.00

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