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Daily Market Outlook and Analysis

Brought to you by Cattlefax

Friday, Feb. 22, 2019

Fed cattle trade has not occurred as of press time; however, the market undertone is $1 to $2 higher. Prices last week were mostly $125 live and $200 dressed. Boxed beef traded $1 to $2 higher, as smaller slaughter rates have kept inventory levels manageable to support the beef complex. Feeder cattle traded $1 higher to $4 lower on the week. Calves traded steady to $3 higher, with instances of $5 higher. Market cows traded mixed, from $2 lower to $3 higher versus last week. Corn ended the week up 1 cent/bushel.

Futures Market Summary

NearbyElecContract Close Change High Low
Live Cattle $128.675 $1.050 $128.750 $127.675
Feeder Cattle $142.900 ($0.325) $143.450 $142.700
Lean Hogs $55.450 ($0.500) $56.600 $55.225
Class III Milk $13.95 ($0.05) $13.95 $13.93
Corn $3.7525 ($0.0025) $3.7775 $3.7450
Soybean $9.1025 ($0.0075) $9.1475 $9.0750

USDA Beef Complex

Item Price Change
Choice $219.39 $1.32
Select $212.35 $0.94
Drop Credit $9.08 $0.00

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