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Monday, Nov. 16, 2020
The active February live cattle contract was the lone loser, ending down $0.20/cwt, while the rest of the complex gained $0.07 to $0.57/cwt. November feeder cattle lost $0.20/cwt, while the remaining contracts closed unchanged to $0.77/cwt firmer. The CME feeder cattle index increased $0.65 to $137.35/cwt. Lean hog futures settled mixed, from $0.80/cwt softer in February to $0.60 higher next December. The CME lean hog index declined $0.48 to $70.84/cwt. March corn added 4-3/4 cents, and soybeans finished up 5-1/2 cents to close at a new contract high. KC wheat ended 6 cents higher in today’s session. Cash fed cattle prices were mostly $3/cwt higher last week. The weekly average fed steer price was at $109.99/cwt. The weekly composite cutout moved $11.79 higher last week to $220.35/cwt. The cutout found support from chucks, rounds, and 50s last week. The 90% lean trimmings market increased $1.99 last week to $199.65/cwt. The 50s market averaged $41.44/cwt, increasing $2.65 last week. This week’s CattleFax total showlist is 6,000 head smaller than last week at 210,000 head.
Futures Market Summary
|
Nearby Elec. Contract |
Close |
Change |
High |
Low |
|
Live Cattle |
$110.425 |
$0.500 |
$110.700 |
$109.800 |
|
Feeder Cattle |
$137.275 |
($0.200) |
$137.725 |
$136.725 |
|
Lean Hogs |
$65.150 |
$0.250 |
$65.800 |
$64.600 |
|
Corn |
$4.1625 |
$0.0575 |
$4.1675 |
$4.0900 |
|
Soybean |
$11.5350 |
$0.0550 |
$11.5525 |
$11.4400 |
|
Class III Milk |
$23.03 |
($0.10) |
$23.12 |
$22.94 |
USDA Beef Complex
|
Item |
Price |
Change |
|
Choice |
$226.95 |
$0.97 |
|
Select |
$212.35 |
$2.89 |
|
Drop Credit |
$8.64 |
$0.06 |
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