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Daily Market Outlook and Analysis

Brought to you by Cattlefax

Sept. 19, 2019

Light volumes of fed cattle trade occurred in the South at mostly $101/cwt – $1 to $4 higher than last week. Live cattle futures followed the same trend as cash with closes of $0.15 to $1.02/cwt. higher. Feeder cattle futures settled $0.20 to $1.25/cwt higher, led by November. The CME feeder cattle index increased $0.21 to $137.33/cwt. Lean hog futures ended mixed, from $0.32/cwt softer in the back end to $1.27 higher in the front end. The CME lean hog index continues the downtrend with a loss $0.99 to $57.49/cwt. Corn remains above the 20-day moving average with a gain of 3-1/4 cents. Soybeans dropped 5 cents, while KC wheat added 7-1/2 cents. Two lots sold on todays Fed Cattle Exchange auction. One lot in Kansas brought $101, and the other lot in Texas demanded $101.25/cwt. The Federal Reserve voted to cut interest rates by a quarter percentage point to a range between 1.75 percent and 2 percent.

Futures Market Summary

Nearby Elec. Contract

Close

Change

High

Low

Live Cattle

$100.375

$1.025

$100.500

$99.000

Feeder Cattle

$139.875

$0.700

$139.900

$138.475

Lean Hogs

$62.925

$0.825

$63.625

$62.000

Class III Milk

$18.25

($0.04)

$18.29

$18.24

Corn

$3.7125

$0.0325

$3.7200

$3.6575

Soybean

$8.8875

($0.0500)

$8.9700

$8.8675

USDA Beef Complex

Item

Price

Change

Choice

$218.24

($1.53)

Select

$191.97

($1.94)

Drop Credit

$9.05

$0.00

 

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