GENERAL COMMENTS:
It's been a wild morning for the cattle complex as a plethora of support has poured into the complex and is helping traders aggressively push both the live cattle and feeder cattle markets higher. New showlists are higher in Nebraska/Colorado, steady in Texas, but lower in Kansas. December corn is down 4 3/4 cents per bushel and December soybean meal is down $4.10. The Dow Jones Industrial Average is up 55.01 points and the NASDAQ is up 134.42 points.
LIVE CATTLE:
The cattle complex is on fire this morning as the traders are celebrating Friday's bullish Cattle on Feed report and are optimistic about the news that is supposed to be released soon from the USDA on a plan to "help rebuild the American cattle supply, incentivize our great ranchers, and drive a full-scale revitalization of the American beef industry."
October live cattle are up $3.50 at $237.07, December live cattle are up $4.25 at $239.97 and February live cattle are up $4.72 at $242.17. The spot December contract is nearing its resistance pressure, which could cause traders some anxiety technically if they don't know what exactly is going to develop fundamentally this week or what the big announcement from the USDA is going to be. New showlists are higher in Nebraska/Colorado, steady in Texas, but lower in Kansas.
Boxed beef prices are higher: choice up $0.35 ($382.40) and select up $2.42 ($362.34) with a movement of 67 loads (30.12 loads of choice, 26.10 loads of select, 4.83 loads of trim and 5.51 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is trading limit higher in its furthest deferred months as trades clearly noted the lack of placements on Friday's Cattle on Feed report, and are extremely optimistic to see what the USDA is soon going to unveil. But in the meantime, the market is rocking and rolling as yet another bullish leg seems to have been added to the cattle market. October feeders are up $7.55 at $361.55, November feeders are up $9.25 at $360.17 and January feeders are up $9.25 at $353.17.
LEAN HOGS:
The lean hog complex is trading mostly higher into Monday's noon hour as the market is pleased to again see that pork cutout values are higher this morning. October lean hogs are up $0.82 at $98.80, December lean hogs are up $1.22 at $88.85 and February lean hogs are up $0.95 at $90.75. The biggest help this morning in terms of pushing the carcass price higher was the belly's $5.18 jump, along with the $4.50 increase in the picnic.
The projected lean hog index for 9/19/2025 is down $0.36 at $104.98, and the actual index for 9/18/2025 is down $0.36 at $105.34. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.42 with a weighted average price of $104.52, ranging from $98.00 to $106.00 on 1,319 head and a five-day rolling average of $105.80. Pork cutouts total 138.92 loads with 123.95 loads of pork cuts and 14.97 loads of trim. Pork cutout values: up $1.74, $113.79.
No comments:
Post a Comment