Cattle Under Pressure Today
Dec 19, 2017
Cattle Commentary: Cattle futures were mostly lower Tuesday with the Feeders taking the brunt of the pressure. January finished 2.725 lower, trading in a range of 3.55 and March finished 2.30 lower at 142.95. February live cattle finished the day just .20 lower at 210.40, this after trading in a 1.65 range. Cash trade has been mostly mute this week. Tomorrows Fed Cattle Exchange has a whopping (sarcasm) 466 head listed. Last week we saw 75 out of 704 head sold at 116. We saw cash develop later in the week with the bulk of it being around 120. Dressed prices came in from 188-190. Some bulls are looking for cash to increase in the near term as packers look towards the start of 2018. Last week we had talked about a seasonal trade that is near the midway point. IF you had bought December 13th and sold December 28th, you would have been profitable for 14 of the last 15 years with the average gain being 2.41. USDAs daily slaughter came in at 118,000, this is up 2,000 from last week and up 3,000 from the same time last year. Keep in mind we do have a Cattle on Feed and Cold Storage report on Friday that will be released during the trading session; we hope to have our estimates in tomorrow’s report.
PM Boxed Beef Choice Select
Current Cutout Values: 201.76 184.32
Change from prior day: -1.39 -.69
Choice/Select spread: 17.44
Live Cattle (February)
February live cattle made a run at.....Please register for a Free Trial to see our technical outlook, proprietary bias and levels.
Feeder Cattle (January)
Feeder cattle were under fire today following.....Please register for a Free Trial to see our technical outlook, proprietary bias and levels.
Lean Hog Commentary & Technicals
Lean hog futures continued to trade lower during today's session with....Please register for a Free Trial to see our technical outlook, proprietary bias and levels.
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