GENERAL COMMENTS:
The livestock complex closed mostly higher as traders remain active and thoroughly supportive of the livestock contracts. Still no cash cattle trade has developed, but asking prices are noted at $233 plus in the South. March corn is down 3 1/4 cents per bushel and January soybean meal is down $1.10. The Dow Jones Industrial Average is down 302.30 points and the NASDAQ is up 54.05 points.
LIVE CATTLE:
The live cattle complex was able to maintain its higher position through Tuesday's close as traders continue to want to support the market and trade it higher, but at the same time, they're not totally convinced and sold out on the idea that they can successfully challenge the market's 100-day moving average. February live cattle closed $0.15 higher at $230.70, April live cattle closed $0.25 higher at $230.27 and June live cattle closed $0.27 higher at $223.70. No cash cattle trade developed throughout the day, but asking prices are noted at $233 plus in the South.
Tuesday's slaughter is estimated at 121,000 head, 2,000 head less than a week ago and 1,000 head less than a year ago.
Boxed beef prices closed mixed: choice down $0.58 ($358.88) and select up $1.80 ($349.10) with a movement of 119 loads (68.69 loads of choice, 13.62 loads of select, 27.63 loads of trim and 9.47 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Lower. Given that the packers bought a massive volume last week, it likely means that they'll be less active in the market this week.
FEEDER CATTLE:
The feeder cattle complex has tried a couple of times to rise above its 100-day moving average over the last week, but the market hasn't successfully maintained a position above that threshold. Although traders feel they have enough support to close above the threshold, their momentum runs short after doing so. And today the spot January contract again closed above its 100-day moving average, which logically then means all eyes will be on the contract tomorrow to see how traders handle the resistance pressure. January feeders are up $3.40 at $343.32, March feeders are up $2.75 at $337.60 and April feeders are up $2.52 at $336.30.
At Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week, feeder steers traded $4.00 to $8.00 higher, and feeder heifers sold steady to $3.00 higher. Steer calves sold $5.00 to $10.00 lower and heifer calves traded $10.00 to $20.00 lower. Cold temperatures and the anticipation of rain over the next ten days for the region damped demand for calves significantly. Feeder cattle supply over 600 pounds was 53%. The CME feeder cattle index 12/15/2025: up $0.60, $347.37.
LEAN HOGS:
Even though pork cutout values closed lower, traders opted to support the contracts anyway through Tuesday's end. February lean hogs closed $0.92 higher at $84.77, April lean hogs closed $0.77 higher at $89.70 and June lean hogs closed $0.72 higher at $101.77. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.12 with a weighted average price of $69.56 on 2,314 head. Pork cutouts totaled 273.36 loads with 239.69 loads of pork cuts and 33.67 loads of trim. Pork cutout values: down $0.33, $98.56. Tuesday's slaughter is estimated at 494,000 head, 1,000 head more than a week ago and 7,000 head more than a year ago. The CME lean hog index 12/12/2025: up $0.19, $82.99.
WEDNESDAY'S HOG CALL: Steady. Given that next week is a holiday-shortened kill schedule, likely, packers won't be overly aggressive in the cash hog market this week.
No comments:
Post a Comment