Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Midday Livestock Comments          07/31 12:09

   Strong Pressure Develops in Livestock Futures Friday          

   Moderate to aggressive pressure is seen through the livestock market at 
midday as traders focus on end of the month positioning and uncertainty in cash 
market direction. 

By Rick Kment
DTN Analyst


   Widespread pressure is seen through the livestock market as traders focus on 
increased trade activity at the end of the month. This could spark increased 
pressure before the end of the session. Corn prices are lower in light trade. 
September corn futures are 4 cents per bushel higher. Stock markets are mixed 
in light trade. The Dow Jones is 7 points lower while Nasdaq is up 12 points.


   Sharp live cattle futures have developed with the exception of front-month 
August futures which are holding a 47 cent per cwt gain in light trade. The 
lack of support through the rest of the market is based on end of the month 
positioning before traders walk out the door and close the book on the month of 
July. Cash cattle trade is undeveloped midday Friday, although bids are 
becoming more evident as prices in the South are at $143 per cwt, while dressed 
bids in the North are seen at $230 per cwt. Asking prices remain near $148 in 
the South and $236 and higher in the North. Beef cut-outs at midday are mixed, 
0.37 higher (select) and down 0.07 per cwt (choice) with light movement of 71 
total loads reported (35 loads of choice cuts, 11 loads of select cuts, 4 loads 
of trimmings, 21 loads of ground beef).


   Feeder cattle futures have slipped lower through the morning as traders 
continue to look for additional direction as traders exit the market for the 
month of July. The ability to draw buyers back into the market at the end of 
the week is extremely limited adding to the uncertainty about additional market 
support over the near future. 


   Sharp losses continue to develop Friday as traders continue to back away 
from the complex in what is expected to be some additional market pressure 
before the end of the month. Trade volume is likely to remain sluggish, which 
could add to the aggressive price pressure. Cash prices are lower on the 
National Direct morning cash hog report. The weighted average price fell $1.30 
per cwt to $73.27 per cwt with the range from $65.00 to $76.00 per cwt on 2,853 
head reported sold. Cash prices do not have a comparison due to lack of trade 
Thursday on the Iowa Minnesota Direct morning cash hog report. The National 
Pork Plant Report reported 103 loads selling with prices falling $0.85 per cwt. 
Lean hog index for 7/28 is at $78.33 down 0.03, with a projected two-day index 
of $78.51 up 0.18.  

   Rick Kment can be reached at 


Copyright 2015 DTN/The Progressive Farmer. All rights reserved.

No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN