Cattle Current Daily-Dec. 24-26, 2018

Cattle Current Daily-Dec. 24-26, 2018

Cash fed cattle continued steady to a touch higher than the previous week, through late Friday afternoon. For the week, live sales were steady at $119/cwt. in Kansas and Nebraska. Dressed trade in Nebraska was $3 higher at $190. Live sales in the western Corn belt were $1-$2 higher at $118-$120, while dressed sales were $3 higher at $190.

Cattle futures closed narrowly mixed to end the week, with no reaction to the previous day’s monthly Cattle on Feed report and amid stronger wholesale beef prices.

Live Cattle futures closed narrowly mixed (an average of 42¢ higher through the front three contracts and then an average of 23¢ lower).

Feeder Cattle futures closed marginally mixed (17¢ lower to 7¢ higher).

Corn futures closed mostly 2¢ to 3¢ higher through Jul ’20 and then mostly fractionally lower.

Soybean futures closed 7¢ to 8¢ lower through Sep ’19 and then mostly 2¢ to 5¢ lower.

Wholesale beef values were higher to sharply higher on moderate to good demand and light offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $1.58 higher Friday afternoon at $214.05/cwt. Select was $2.24 higher at $207.50.

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Major U.S. financial indices closed sharply lower again on Friday, amid continuing concerns about slowing global economic growth, domestic economic recession, trade issues and the likelihood of a partial government shutdown.

The Dow Jones Industrial Average closed 414 points lower. The S&P 500 closed 50 points lower. The NASDAQ was down 195 points.

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Total pounds of beef in freezers Nov. 30 were down slightly from the previous month but up 6% percent from last year, according to the monthly USDA Cold Storage report.

Frozen pork supplies were 11% less than the previous month but 1% more than the previous year. 

Total red meat supplies in freezers were down 6% from the previous month but up 4% from last year.

Total frozen poultry supplies were 13% less than the previous month but 2% more than a year ago.

2018-12-22T13:45:32-05:00

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