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Sept. 17, 2020

Light to moderate fed cattle cash trade occurred in the North at mostly $103 to $103.50/cwt live and $163 dressed – $1 to $3 higher than last week. Light trade in the South was noted at $103 – fully steady with yesterday’s market. Live cattle futures ended mixed again, from $0.62/cwt lower in the active December contract to $0.82 firmer in the backend. Feeder cattle futures settled $0.32 to $1.32/cwt lower, with the November contract falling the most. The CME feeder cattle index increased $0.61 to $141.21/cwt. Lean hog futures closed $1.65/cwt higher in December to $0.37 lower in the far out deferreds. The CME lean hog index added $1.07 to $66.42/cwt. Corn was pulled up by beans to close 3-1/2 cents firmer in today’s session. Soybeans surged 17-1/4 cents, and KC wheat rallied 12-1/2 cents. The latest USDA steer carcass weights were up 2 pounds from the prior week at 918, making them 25 pounds above last year.

Futures Market Summary

Nearby Elec. Contract Close Change High Low
Live Cattle $106.775 $0.050 $106.950 $105.925
Feeder Cattle $139.925 ($0.575) $140.850 $139.400
Lean Hogs $66.525 $1.300 $67.200 $65.600
Corn $3.7525 $0.0350 $3.7725 $3.6800
Soybean $10.2850 $0.1725 $10.3225 $10.0500
Class III Milk $16.25 ($0.05) $16.27 $16.16

USDA Beef Complex

Item Price Change
Choice $215.05 ($0.33)
Select $203.39 ($1.12)
Drop Credit $7.90 ($0.01)

 

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