Compared to Tuesday's initial open, the complex
is timidly starting to trade higher. The market can fluctuate in odd,
pointless ways during holiday weeks, but given how the market is trading
currently, a steady sideways trade is expected to be the overall tone.
March corn is down 3/4 cent per bushel and March soybean meal is up
$1.20. The Dow Jones Industrial Average is down 34.06 points and NASDAQ
is up 4.58 points.
**USDA reports will not be released Tuesday or Wednesday.
LIVE CATTLE
The week may be aligning for higher cash cattle
trade. Packers called in early Monday to see what was available and have
since rocked back on their heels and let time pass by. Feeders are
offering cattle in the South at $123 and dressed cattle in the North for
$195. Two majors and one region have offered to call in at steady
money, and one major has offered to call in at $121. Feeders have yet to
pick up the bids and are seeming to let the week play out. December
live cattle are up $0.22 at $122.62, February live cattle are up $0.05
at $125.72 and April live cattle are down $0.02 at $126.62. Knowing that
this week's kill will be limited because of the shortened holiday week,
boxed beef prices may see a significant jump after the holidays.
FEEDER CATTLE
Feeder cattle markets are trading on both sides
of steady looking to merely pass the day. January feeders are steady at
$143.52, March feeders are down $0.15 at $143.57 and April feeders are
up $0.10 at $146.05. All in all, the feeder cattle market will most
likely keep this sideways lackluster trade until sale barn markets
resume after the first of the year and traders are back mentally and
physically after the holidays.
LEAN HOGS
February lean hogs are up $0.35 at $70.60, April
lean hogs are up $0.22 at $77.77 and May lean hogs are up $0.10 at
$84.00. Trading anywhere from $0.02 to $0.35 higher, the lean hog
complex is mildly higher. Monday's quarterly hog report isn't seeming to
have a negative effect on the market.
 |
| #completeherdhealth |
No comments:
Post a Comment