Daily-May 25

Daily-May 25

Cash fed cattle trade opened on Wednesday with the weekly Fed Cattle Exchange auction sale.

About half of the 2,648 head offered ended up trading hands. Most of those were at a weighted average price of $132.54/cwt. for delivery at 1-9 days. That’s 2.62 less than last week. Cattle selling for delivery at 1-17 days and 10-17 days brought a weighted average of $132.50.

Country trade was limited on light demand through the afternoon.

Even though it was expected, the softer cash trade helped apply strong pressure to Cattle futures, although they pulled back from the severe downturn seen earlier in the session.

Live Cattle futures closed an average of 90¢ lower with a range of 35¢ to $1.40 lower.

Except for 25¢ lower in spot May, Feeder Cattle futures closed an average of $2.13 lower with a range of $1.32 to $2.85 lower.

Corn futures closed fractionally higher to 2¢ higher.

Choice boxed beef cutout value was 34¢ higher Wednesday afternoon at $246.08. Select was $1.57 lower at $219.60.

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

Major U.S. financial indices closed higher on Wednesday. According to some, one of the drivers was release of the minutes from the Federal Reserve earlier this month, which provides some insight on how they plan to go about unwinding the massive balance sheet built through the quantitative easing program. Presumably, investors view the plan as market friendly overall.

The Dow Jones Industrial Average closed 74 points higher. The S&P 500 closed 5 points higher. The NASDAQ closed 24 points higher.

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

Analysts with Allendale, Inc. expect Friday’s monthly Cattle on Feed report to show April placements 4.6% higher year over year. According to those analysts, that would be the largest April placement in six years. They add that their estimate is based on their belief that Cattle feeders responded to the rally in fed cattle prices from the end of March to the end of April by placing more cattle. They also point out that April placements supply the October through January slaughter period.

2017-05-30T13:32:47+00:00

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.

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.