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Cattle Current Weekly Highlights—Week ending Nov. 27, 2020

Cattle futures bounced back last week, gaining back more than was lost the previous week, helped along by higher outside markets.

That started to show up in cash prices paid at late-week sales, keeping in mind receipts were significantly lower due to the holiday.

Feeder Cattle futures closed an average of $3.80 higher week to week on Friday, from $2.77 higher to $5.22 higher in spot Jan.

“Feeder markets are reflecting a mix of influences including seasonal supplies of calves, wheat pasture forage conditions, higher corn prices and volatility in futures markets,” explained Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments. “Feeder markets have been very dynamic and it means that both cow-calf and stocker producers must constantly evaluate changing market conditions.”

For instance, Peel pointed to the currently steeper price rollback on calves lighter than 600 lbs. and the impact on value of gain. He gave the example of cow-calf producers selling calves at weaning, explaining recent prices mean the value of adding 50 lbs. to a 500-lb. steer is about 50¢/lb.

“For producers holding calves after weaning, the low value of gain must be balanced against the value of preconditioning programs and extra weaning time before sale,” Peel said. “The implications of current market conditions depend on the current weight of animals and the amount of additional weight added to animals prior to sale.”

Fed Cattle Prices Gain

Seasonal strength in wholesale beef values helped lift fed cattle prices last week.

Choice boxed beef cutout value was $4.50 higher week to week on Friday at $242.85/cwt. Select was $5.70 higher at $220.68.

The average dressed steer weight for the week ending Nov. 14 was 930 lbs., which was 6 lbs. heavier than the previous week and 18 lbs. heavier than the prior year. That’s according to the most recent Actual Slaughter Under Federal Inspection report from USDA. The average dressed heifer weight of 846 lbs. was the same as a week earlier but 5 lbs. heavier than the same week last year.

Negotiated cash fed cattle prices ended the week generally steady to $1 higher on a live basis and $2 higher in the beef, according to the Agricultural Marketing Service.

Live prices were at $111/cwt. in the Southern Plains, $110-$111 in Nebraska and $109-$110 in the western Corn Belt. Dressed trade was at $174.

Live Cattle futures closed an average of $2.17 higher week to week on Friday, from $1.32 higher toward the back to $2.70 higher.

“This year’s December Live Cattle contract closed at $111.25 on Friday, which was $9.05 lower than last year, while the February contract is $11.37 lower than last year,” explain AMS analysts.

Friday to Friday Change

Weekly Auction Receipts

 

Nov. 27 Auction Direct

Video/net

Total
 

112,300

(-209,600)

35,300

(-10,100)

1,600

(-8,200)

149,200

(-227,900)

 

 

CME Feeder Index

CME Feeder Index* Nov. 25 Change
  $136.90 –  $0.61

*Wednesday-to Wednesday for CME Feeder Index

 

Cash Stocker and Feeder

North Central

Steers-Cash Nov. 27 Change
600-700 lbs. $147.11 +  $0.60
700-800 lbs. $141.16 +  $0.01
800-900 lbs. $142.62 –   $0.09

 

South Central

Steers-Cash Nov. 27 Change
500-600 lbs. $149.50 –  $2.15
600-700 lbs. $141.40 + $0.49
700-800 lbs. $140.23 + $3.29

 

Southeast

Steers-Cash Nov. 27 Change
400-500 lbs. $146.59 –  $5.72
500-600 lbs. $136.73 –  $1.28
600-700 lbs. $129.80 + $1.20

(AMS National Weekly Feeder & Stocker Cattle Summary)

 

Wholesale Beef Value

Boxed Beef  (p.m.) Nov. 27 ($/cwt) Change
Choice $242.85 + $4.50
Select $220.68 + $5.70
Ch-Se Spread $22.17 –  $1.20

 

Futures

Feeder Cattle  Nov. 27 Change
Jan ’21 $139.825 + $5.225
Mar $139.000 + $4.625
Apr $140.325 + $4.150
May $141.225 + $3.775
Aug $146.200 + $2.775
Sep $146.450 + $3.200
Oct ’21 $146.350 + $3.150
Nov $146.600 + $3.475

 

Live Cattle   Nov. 27 Change
Dec $110.625 + $2.525
Feb ’21 $113.250 + $2.600
Apr $116.950 + $2.500
Jun $111.900 + $2.650
Aug $111.350 + $2.700
Oct $114.675 + $2.025
Dec $117.000 + $1.875
Feb ’22 $118.375 + $1.325
Apr $119.150 + $1.350

 

Corn  Nov. 27 Change
Dec $4.254 + $0.022
Mar ’21 $4.336 + $0.054
May $4.366 + $0.060
Jly $4.372 + $0.066
Sep $4.174 + $0.068
Oct $4.144 + $0.062

 

Oil CME-WTI Nov. 27 Change
Dec $45.53 + $3.11
Jan ’21 $45.74 + $3.10
Feb $45.91 + $3.07
Mar $46.01 + $2.99
Apr $46.06 + $2.91
May $46.07 + $2.80

 

Equities

Equity Indexes Nov. 27 Change
Dow Industrial Average  29910.37 +  646.89
NASDAQ  12205.85 +  350.88
S&P 500   3638.35 +     80.81
Dollar (DXY)       91.78 –         0.61
Cattle Current Weekly Highlights—Week ending Nov. 27, 2020 2020-11-29T11:47:18-06:00

Cattle Current Podcast—Nov. 30, 2020

Negotiated cash fed cattle prices ended the week generally steady to $1 higher on a live basis and $2 higher in the beef, according to the Agricultural Marketing Service.

Live prices were at $111/cwt. in the Southern Plains, $110-$111 in Nebraska and $109-$110 in the western Corn Belt. Dressed trade was at $174.

Cattle futures mostly drifted lower on Friday, amid extremely light holiday trade.

Live Cattle futures closed an average of 47¢ lower (32¢ to 92¢ lower).

Feeder Cattle futures closed an average of 24¢ lower except for an average of 26¢ higher in two contracts.

Choice boxed beef cutout value was $2.21 lower Friday afternoon at $242.85/cwt. Select was 22¢ lower at $220.68.

Corn futures closed mostly 3¢ to 5¢ higher.

Soybean futures closed mostly 6¢ to 7¢ higher.

Cattle Current Podcast—Nov. 30, 2020 2020-11-28T18:58:15-06:00

Cattle Current Daily—Nov. 30, 2020

Negotiated cash fed cattle prices ended the week generally steady to $1 higher on a live basis and $2 higher in the beef, according to the Agricultural Marketing Service.

Live prices were at $111/cwt. in the Southern Plains, $110-$111 in Nebraska and $109-$110 in the western Corn Belt. Dressed trade was at $174.

Cattle futures mostly drifted lower on Friday, amid extremely light holiday trade.

Live Cattle futures closed an average of 47¢ lower (32¢ to 92¢ lower).

Feeder Cattle futures closed an average of 24¢ lower except for an average of 26¢ higher in two contracts.

Choice boxed beef cutout value was $2.21 lower Friday afternoon at $242.85/cwt. Select was 22¢ lower at $220.68.

Corn futures closed mostly 3¢ to 5¢ higher.

Soybean futures closed mostly 6¢ to 7¢ higher.

******************************

Major U.S. financial indices closed higher Friday, buoyed by the week’s mostly positive news surrounding apparent progress with COVID-19 vaccines.

The Dow Jones Industrial Average closed 37 points higher. The S&P 500 closed 8 points higher. The NASDAQ was up 111 points.

******************************

Total pounds of beef in freezers were up 8% from the previous month and up 7% from the previous year, as of Oct. 31, according to USDA’s latest monthly Cold Storage report.

Frozen pork supplies were down 4% from the previous month and down 27% from last year.

Total red meat supplies in freezers were up 1% from the previous month but down 12% from last year.  

Total frozen poultry supplies were 7% less than the previous month and down 4% from a year earlier.

Cattle Current Daily—Nov. 30, 2020 2020-11-28T18:56:07-06:00

Cattle Current Podcast—Nov. 26-27, 2020

Negotiated cash fed cattle prices were generally steady to $1 higher on a live basis and $2 higher in the beef, through Wednesday afternoon, according to the Agricultural Marketing Service.

Live prices were at $111/cwt. in the Southern Plains on moderate demand and trade. Live prices were at $110 in the western Corn Belt on slow trade and moderate demand. There were a few in Nebraska at $110. Dressed trade was at $174.

Cattle futures mostly continued gains on Wednesday, buoyed by stronger cash markets, weaker grain futures, stronger wholesale beef values and light pre-holiday trade.

Live Cattle futures closed an average of 27¢ higher.

Feeder Cattle futures closed an average of 92¢ higher (25¢ to $1.57 higher) except for 7¢ lower and 32¢ lower in the back two contracts.

Choice boxed beef cutout value was 76¢ higher Wednesday afternoon at $245.06/cwt. Select was $1.19 higher at $220.90.

Corn futures closed 5¢ lower through Jly ’21 and then mostly unchanged to 1¢ lower.

Soybean futures closed mostly 5¢ to 7¢ lower.

Cattle Current Podcast—Nov. 26-27, 2020 2020-11-25T18:27:45-06:00

Cattle Current Daily—Nov. 26-27-2020

Negotiated cash fed cattle prices were generally steady to $1 higher on a live basis and $2 higher in the beef, through Wednesday afternoon, according to the Agricultural Marketing Service.

Live prices were at $111/cwt. in the Southern Plains on moderate demand and trade. Live prices were at $110 in the western Corn Belt on slow trade and moderate demand. There were a few in Nebraska at $110. Dressed trade was at $174.

Cattle futures mostly continued gains on Wednesday, buoyed by stronger cash markets, weaker grain futures, stronger wholesale beef values and light pre-holiday trade.

Live Cattle futures closed an average of 27¢ higher.

Feeder Cattle futures closed an average of 92¢ higher (25¢ to $1.57 higher) except for 7¢ lower and 32¢ lower in the back two contracts.

Choice boxed beef cutout value was 76¢ higher Wednesday afternoon at $245.06/cwt. Select was $1.19 higher at $220.90.

Corn futures closed 5¢ lower through Jly ’21 and then mostly unchanged to 1¢ lower.

Soybean futures closed mostly 5¢ to 7¢ lower.

******************************

Major U.S. financial indices closed mixed Wednesday. Pressure included more jobless claims than traders expected.

Initial unemployment insurance claims last week were 778,000, which was 30,000 more than the previous week, according to the U.S. Department of Labor.

The Dow Jones Industrial Average closed 173 points lower. The S&P 500 closed 5 points lower. The NASDAQ was 57 points higher.

******************************

When Jan. 1 cattle inventory numbers come out toward the end of January, analysts with the Livestock Marketing Information Center (LMIC) expect to see more year- over-year contraction of the beef cow herd.

“The beef herd is expected to be down 0.5 to 1.0% based on year-to-date slaughter numbers that are above a year ago by about 2%, and heifer numbers in feedlots,” say LMIC analysts, in the latest Livestock Monitor. “It appears beef cows held for replacement are likely steady to below a year ago, given the uncertainty of 2020. Other heifers, those in the feedlot, are also expected to have pulled back. Those on feed are slightly lower than a year ago, while heifer slaughter is about 4% below last year.”

This year began with 31.31 million head, which was 1.18% less (-374,000 head) than the previous year.

“Bull slaughter is well below a year ago, a reflection of lower volumes of male cattle kept for breeding purposes. This is primarily driven by the cattle cycle and the smaller needs for bulls. LMIC estimates bull inventory Jan. 1 is likely slightly less than last year,” say LMIC analysts. “Steers over 500 lbs. are expected to fall, in line with July 1 calf crop expectations, as well as cattle weighing less than 500 lbs. Both are expected to be down over half a percent.”

Even with expectations for there to be slightly more dairy cows at the beginning of 2021, LMIC expects the total of all cattle and calves to be slightly less year over year. Total inventory at the beginning of this year was 0.41% less than the prior year.

Cattle Current Daily—Nov. 26-27-2020 2020-11-25T18:25:05-06:00

Cattle Current Podcast—Nov. 25, 2020

Negotiated cash fed cattle trade remained undeveloped through Tuesday afternoon, but the recent surge in Cattle futures and wholesale beef values bolstered hope for higher prices.

Cattle futures extended gains on Tuesday, supported by the previous session’s optimism and the brighter outlook for cash prices.

Live Cattle futures closed an average of 50¢ higher (10¢ to $1.17 higher) except for 55¢ lower in the back contract.

Feeder Cattle futures closed an average of 50¢ higher except for 2¢ lower in May.

Choice boxed beef cutout value was $2.70 higher Tuesday afternoon at $244.30/cwt. Select was $2.23 higher at $219.71.

Corn futures closed narrowly mixed, mostly from 1¢ lower to 1¢ higher.

Soybean futures closed mostly fractionally higher to 1¢ higher.

Cattle Current Podcast—Nov. 25, 2020 2020-11-24T19:54:41-06:00

Cattle Current Daily—Nov. 25, 2020

Negotiated cash fed cattle trade remained undeveloped through Tuesday afternoon, but the recent surge in Cattle futures and wholesale beef values bolstered hope for higher prices.

Cattle futures extended gains on Tuesday, supported by the previous session’s optimism and the brighter outlook for cash prices.

Live Cattle futures closed an average of 50¢ higher (10¢ to $1.17 higher) except for 55¢ lower in the back contract.

Feeder Cattle futures closed an average of 50¢ higher except for 2¢ lower in May.

Choice boxed beef cutout value was $2.70 higher Tuesday afternoon at $244.30/cwt. Select was $2.23 higher at $219.71.

Corn futures closed narrowly mixed, mostly from 1¢ lower to 1¢ higher.

Soybean futures closed mostly fractionally higher to 1¢ higher.

******************************

Major U.S. financial indices closed higher again Tuesday with follow-through support from the previous session, tied to positive news about COVID-19 vaccines and the outlook toward a bounce in economic recovery in 2021.

The Dow Jones Industrial Average closed 454 points higher. The S&P 500 closed 57 points higher. The NASDAQ was up 156 points.

******************************

U.S. beef exports for 2021 are projected to be $7.1 billion, according to the latest quarterly Outlook for U.S. Agricultural Trade, from USDA’s Economic Research Service (ERS). The projection is $200 million more than the previous report in August, based on increased volume offsetting a decline in unit values.

Overall, ERS projects U.S. agricultural exports in Fiscal Year (FY) 2021 at $152.0 billion, up $11.5 billion from the August forecast, fueled by increased soybean and corn export values.

“The projection for soybean exports is up $5.9 billion to a record $26.3 billion due to higher unit values, strong demand from China, and record volumes,” according to the report. “Corn exports are forecast up $4.2 billion to $13.2 billion as a result of reduced competition, higher unit values and record volumes…Wheat exports are projected at $6.2 billion, up $200 million, on higher unit values and slightly larger volumes.”

The forecast suggests China will become the largest market for U.S. agricultural products next year for the first time since 2017. Exports to that nation are projected at a record high $27.0 billion.

All of that is shrouded by the global economic contraction and ongoing uncertainty borne by the pandemic.

“Expectations of real gross domestic product (GDP) numbers have improved from the initial lockdown contractions, but recovery forecasts are still marked by uncertainty and prone to future setbacks,” say ERS analysts. “Overall, global real GDP growth is expected to fall by about 4.4% in 2020. This is slightly less severe than was previously feared back in June. Global trade volume, which declined 9.2% in FY 2020, is expected to increase 7.2% in FY 2021. The expected economic recovery in 2021 will be shaped by both regional and overall global success in containing the COVID-19 pandemic, in addition to boosting consumer spending.”

Cattle Current Daily—Nov. 25, 2020 2020-11-24T19:52:46-06:00

Cattle Current Podcast—Nov. 24, 2020

Negotiated cash fed cattle trade was mostly inactive on very light demand in the western Corn Belt through Monday afternoon. Elsewhere, it was at a standstill, according to data from the Agricultural Marketing Service (AMS). Last week, live prices were at $110/cwt. in the Southern Plains and Nebraska and at $109-$110 in the western Corn Belt. Dressed prices are steady at $172.

Cattle futures closed sharply higher on Monday, shaking off last week’s blues with the help of higher outside markets and an apparently bullish view of Friday’s Cattle on Feed report.

Live Cattle futures closed an average of $1.99 higher.

Feeder Cattle futures closed an average of $2.83 higher.

Choice boxed beef cutout value was $3.25 higher Monday afternoon at $241.60/cwt. Select was $2.50 higher at $217.48.

Corn futures closed mostly 3¢ to 5¢ higher

Soybean futures closed 10¢ to 12¢ higher through Aug ’21 and then mostly 4¢-7¢ higher.

Cattle Current Podcast—Nov. 24, 2020 2020-11-23T19:49:41-06:00

Cattle Current Daily—Nov. 24, 2020

Negotiated cash fed cattle trade was mostly inactive on very light demand in the western Corn Belt through Monday afternoon. Elsewhere, it was at a standstill, according to data from the Agricultural Marketing Service (AMS). Last week, live prices were at $110/cwt. in the Southern Plains and Nebraska and at $109-$110 in the western Corn Belt. Dressed prices are steady at $172.

Cattle futures closed sharply higher on Monday, shaking off last week’s blues with the help of higher outside markets and an apparently bullish view of Friday’s Cattle on Feed report.

Live Cattle futures closed an average of $1.99 higher.

Feeder Cattle futures closed an average of $2.83 higher.

Choice boxed beef cutout value was $3.25 higher Monday afternoon at $241.60/cwt. Select was $2.50 higher at $217.48.

Corn futures closed mostly 3¢ to 5¢ higher

Soybean futures closed 10¢ to 12¢ higher through Aug ’21 and then mostly 4¢-7¢ higher.

******************************

Major U.S. financial indices closed higher Monday, buoyed by the third COVID-19 vaccine candidate that proved at least 90% effective in trials. Traders also seemed optimistic about Janet Yellen, former Federal Reserve Chair, being named Treasury secretary by president-elect Biden.

The Dow Jones Industrial Average closed 327 points higher. The S&P 500 closed 20 points higher. The NASDAQ was up 25 points.

******************************

“Feeder markets are reflecting a mix of influences including seasonal supplies of calves, wheat pasture forage conditions, higher corn prices and volatility in futures markets,” says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments. “Feeder markets have been very dynamic and it means that both cow-calf and stocker producers must constantly evaluate changing market conditions.”

By way of illustration, Peel graphed (see chart below) Oklahoma calf and feeder steer prices by weight from August through Nov. 20.

After posting lows during the winter storm in late October, he explains prices for steer calves and stockers weighing less than 600 lbs. increased sharply; little change at heavier weights.

“The result is a sharper bend in the price-weight line, with an even steeper price rollback for steers up to 600 pounds,” Peel says. “Using a stocker gain of 250 lbs. from 500 to 750 lbs., the value of gain in August was $1.02/lb. In October, the value of gain was slightly higher at $1.05/lb. based on lower prices for both 500 and 750-lb. steers. In November, the higher prices for the lightweight animals resulted in a lower value of gain of $0.74/lb. Of course, a 500-lb. stocker purchased now will not reach 750 lbs. for some time. However, March Feeder futures price was $134.48 recently. That with an expected early March basis of $1.69/cwt. for 750-lb. steers in Oklahoma suggests a final price of $136.17/cwt., close to the current cash price of $136.03/cwt.”

For cow-calf producers selling calves at weaning, he explains recent prices mean the value of adding 50 lbs. to a 500-lb. steer is about 50¢/lb.

“For producers holding calves after weaning, the low value of gain must be balanced against the value of preconditioning programs and extra weaning time before sale,” Peel says. “The implications of current market conditions depend on the current weight of animals and the amount of additional weight added to animals prior to sale.”

Cattle Current Daily—Nov. 24, 2020 2020-11-23T19:47:42-06:00

Cattle Current Weekly Highlights—Week ending Nov. 20, 2020

Doggedly higher grain prices, languishing cash fed cattle prices and increasing demand uncertainty added bearishness to cattle markets as last week progressed.

Calves and yearlings sold steady to $3/cwt. higher early in the week and steady to $4 lower later on, according to the Agricultural Marketing Service.

“With the higher grain prices and forage prices, we will see persistent pressure on feeder cattle and calf prices into 2021,” says Stephen Koontz, agricultural economist at Colorado State University, in the latest issue of In the Cattle Markets. “One dollar higher corn costs translate into about $6-$7/cwt. lower feeder cattle prices. This cattle price impact is being exacerbated by dry conditions in the western U.S. and hay prices that are creeping higher. The impact on calf prices will be greater.”

Koontz points out Corn futures (2020-21 crop) are about $1 higher than in August and Soybean futures are about $2 higher, including deferred contracts. He adds that prices for both appear to be at a premium to what underlying fundamentals suggest.

Feeder Cattle futures closed an average of $2.21 lower week to week on Friday, from $1.67 lower at the back to $3.27 lower in spot Jan.

USDA’s Economic Research Service (ERS) lowered the expected fourth-quarter feeder steer price by $6 from the previous month to $137/cwt., in the latest Livestock, Dairy and Poultry Outlook (LDPO). That’s basis Oklahoma City for Medium #1. The lower revision is based on seasonal price weakness and cash prices in October down more than $9 year over year at $137.55. ERS reduced expected feeder steer prices for next year by $1, based on higher projected feed prices.

Specifically, ERS forecasts feeder steer prices next year at $133 in the first quarter, $136 in the second, $141 in the third; annual average price of $138.

Feedlot Placements Down 11%

Heading into the new week, markets will likely view Friday’s monthly Cattle on Feed report as neutral, if not a touch friendly.

October placements of 2.19 million head in feedlots with 1,000 head or more capacity were 10.97% less than a year earlier. Estimates ahead of the report suggested placements to be about 1.5% more.

Marketings of 1.87 million head in October were just 2,000 fewer than a year earlier, about in line with pre-report estimates.

Cattle on feed Nov. 1 numbered 11.97 million head, which was 1.33% more than a year earlier. That was slightly less than expectations, but the most for the month since the data series began in 1996.

Fed Cattle Prices Steady

Negotiated cash fed cattle prices ended last week steady, according to data from the Agricultural Marketing Service (AMS). Live prices were at $110/cwt. in the Southern Plains and Nebraska and at $109-$110 in the western Corn Belt. Dressed prices are steady at $172.

Live Cattle futures closed an average of $1.50 lower week to week on Friday, from 95¢ to $2.00 lower.

“Heavy cattle continue to put pressure on some regional markets, but it is becoming less and less of a concern with each passing week. Prices may be a little softer next week with the shortened kill week,” says Andrew P. Griffith, agricultural economist at the University of Tennessee, in his weekly market comments.

“Despite the rising number of cattle on feed, front-end supplies—the number of cattle on feed over 150 days—decreased for the third consecutive month as a percentage and in volume,” say ERS analysts, in the LDPO. “This is the result of an improving pace of fed cattle slaughter, which was faster than a year ago for the last three months and above the five-year average. The quickening slaughter pace, combined with an ample supply of fed cattle at heavier weights, led to higher expected beef production in fourth-quarter 2020 relative to 2019. Nevertheless, tighter front-end supplies will likely support continued seasonal movement in fed steer prices.”

ERS left the expected five-area direct fed steer price unchanged for the fourth quarter ($109) and for next year: $113 in the first quarter, $110 in the second quarter, $114 in the third quarter; annual average price of $114.

Boxed Beef Prices Continue Higher

Choice boxed beef cutout value was $12.37 higher week to week on Friday at $238.35/cwt. Select was $5.52 higher at $214.98. That’s $24.03 higher for Choice over the past two weeks and $16.49 higher for Select.

“Sharp upticks in Daily Boxed Beef prices this week caught many observers off-guard with Rib meats leading the charge,” say AMS analysts. “Wholesalers and retailers continued to buy beef out front to cover their customers’ needs moving towards the Christmas holiday season.”

By most measures, domestic consumer beef demand remains resilient in the face of multifold pandemic challenges, but those challenges will likely increase heading into winter.

“Loss of outdoor dining in cold weather will further aggravate restaurant challenges.  Food service demand is likely to be additionally affected with worsening public health challenges. Macroeconomic concerns will grow as consumers go forward with less unemployment support,” says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments. “Ample supplies of beef, pork and poultry increase market price pressure, though disruptions in supply are a threat as well.”  

Friday to Friday Change

Weekly Auction Receipts

 

Nov. 20 Auction Direct

Video/net

Total
 

321,900

(+16,600)

45,400

(-29,700)

9,800

(-600)

377,100

(-13,700)

 

 

CME Feeder Index

CME Feeder Index* Nov. 19 Change
  $136.75 –  $0.60

*Thursday-to Thursday for CME Feeder Index

 

Cash Stocker and Feeder

North Central

Steers-Cash Nov. 20 Change
600-700 lbs. $146.51 –   $3.07
700-800 lbs. $141.15 –   $0.38
800-900 lbs. $142.71 +  $0.69

 

South Central

Steers-Cash Nov. 20 Change
500-600 lbs. $151.65 –  $0.22
600-700 lbs. $140.91 + $0.06
700-800 lbs. $136.94 –  $2.75

 

Southeast

Steers-Cash Nov. 20 Change
400-500 lbs. $152.31 + $0.64
500-600 lbs. $140.91 + $2.38
600-700 lbs. $128.60 –  $0.58

(AMS National Weekly Feeder & Stocker Cattle Summary)

 

Wholesale Beef Value

Boxed Beef  (p.m.) Nov. 20 ($/cwt) Change
Choice $238.35 + $12.37
Select $214.98 + $5.52
Ch-Se Spread $23.37 + $6.85

 

Futures

Feeder Cattle  Nov. 20 Change
Jan ’21 $134.600 –  $3.275
Mar $134.375 –  $2.775
Apr $136.175 –  $2.450
May $137.450 –  $2.150
Aug $143.425 –  $1.325
Sep $143.250 –  $1.850
Oct ’21 $143.200 –  $1.675
Nov $143.125 n/a

 

Live Cattle   Nov. 20 Change
Dec $108.100 –  $1.825
Feb ’21 $110.650 –  $1.575
Apr $114.450 –  $1.750
Jun $109.250 –  $1.925
Aug $108.650 –  $2.000
Oct $112.650 –  $0.975
Dec $115.125 –  $1.075
Feb ’22 $117.050 –  $0.950
Apr $117.800 –  $1.425

 

Corn  Nov. 20 Change
Dec $4.232 + $0.128
Mar ’21 $4.282 + $0.088
May $4.306 + $0.066
Jly $4.306 + $0.044
Sep $4.106 + $0.050
Oct $4.082 + $0.038

 

Oil CME-WTI Nov. 20 Change
Dec $42.15 + $2.02
Jan ’21 $42.42 + $2.02
Feb $42.64 + $1.94
Mar $42.84 + $1.83
Apr $43.02 + $1.72
May $43.15 + $1.60

 

Equities

Equity Indexes Nov. 20 Change
Dow Industrial Average  29263.48 –   216.33
NASDAQ  11854.97 +      25.68
S&P 500   3557.54 –       27.61
Dollar (DXY)       92.40 –         0.32
Cattle Current Weekly Highlights—Week ending Nov. 20, 2020 2020-11-22T15:51:24-06:00

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This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.