Cattle Continue to Firm Up
Dec 28, 2017
Cattle Commentary: Cattle futures saw some additional momentum to the upside in today's trade with live cattle and feeders finishing the day in the green. February live cattle finished the session up 1.325 at 122.325, trading in a range of 1.95 on the day. March feeders were lagging but manage to finish up .325 at 142.05, trading in a range of 2.375. There has not been much activity on the cash side this week but offers floating around 125 has the market feeling good. With the markets closed on Monday due to New Years, it will be interesting to see how we close tomorrow if we don’t get that cash trade during the session. The bulk of last week’s trade was 120 live and 190-191 dressed. Colder temperatures have also been sighted as a catalyst to support the market in the near term. We continue to see current market conditions as favorable to prices on live cattle going into the new year.
PM Boxed Beef Choice Select
Current Cutout Values: 202.28 190.91
Change from prior day: .68 .49
Choice/Select spread: 11.37
Live Cattle (February)
February live cattle opened on the softer side, trading down to the 120.70 level we have been referencing in recent reports. This represents the 50% retracement from the August lows to the November highs, the market dipped down below yesterdays lows to see what was below but was quickly bought up from there on out. Prices took out yesterdays highs, but failed to get much ground above that. We have been looking for a move back to.....Please sign up for a Free Trial to view our entire technical outlook and proprietary bias and levels.
Feeder Cattle (March)
March feeder cattle traded both sides of unchanged in a range of 2.375, only to finish the day near unchanged. 143.50 was the line in the sand we have been referencing in recent reports, the market looked poised to......Please sign up for a Free Trial to view our entire technical outlook and proprietary bias and levels.
Lean Hog Commentary & Technicals
February lean hogs staged an inside day today (prices trading within the previous days range) with prices finishing up .325 at 71.35, this after trading in a range of 1.15 for the day. 70.25 will continue to be first support, if the bulls can continue to hold this on a closing basis, we could see a run towards.....Please sign up for a Free Trial to view our entire technical outlook and proprietary bias and levels.
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