National Lean Hog Values 09/01
DTN Early Word Grains 04/25 05:47
DTN Early Word Grains 04/25 05:47 A stalled front and a system approaching from the West will increase showers and thunderstorms across the Plains on Thursday. Severe weather will be a risk from Nebraska southward with all hazards on the table. Background winds will likely be breezy as we July corn is down 3/4 cent per bushel, July soybeans are down 7 1/4 cents, July KC wheat is down 2 cents, July Chicago wheat is steady and July Minneapolis wheat is up 3 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 3/4 cent per bushel, July soybeans are down 7 1/4 cents, July KC wheat is down 2 cents, July Chicago wheat is steady and July Minneapolis wheat is up 3 cents. CME GLOBEX RECAP: World equity markets are mixed, but U.S. traders are bracing for a sharply lower open in the tech-heavy NASDAQ as Meta reported earnings Wednesday and outlined an aggressive spending program on AI. This spending has Meta shares down over $60/share and this is spilling over to other tech shares Thursday morning. Wednesday's durable goods report was in line with expectations. Thursday morning, we will get initial jobless claims, inventories, and the GDP read for the 1st quarter of 2024. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 42.77 at 38,460.92 and the S&P 500 up 1.08 at 5,071.63, The 10-Year Treasury yield ended at 4.65%. Early Thursday, the June Dow Jones Futures are down 150 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.61%, spot futures of Germany's DAX is trading down 0.5% and the spot futures of France's CAC 40 Index down 0.66%. Asian markets are mixed with Japan's Nikkei 225 Index down 2.16% and China's Shanghai Composite Index up 0.27%.
DTN Early Word Livestock Comments 04/25 06:07
DTN Early Word Livestock Comments 04/25 06:07 Further Pressure Possible in Reaction to HPAI News Cattle traders reacted negatively to the further unfolding news over the news indicating that HPAI may be more widespread than reported. Even though it has not been found in beef cattle, the news rattled the market again. Hogs were under slight pressure as traders assessed the recent strength and underlying fundamentals. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Higher Live Equiv: $219.11 -$1.31* Hogs: Higher Futures: Mixed Lean Equiv: $103.23 +$0.38** *Based on the formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. The index has been updated to depict recent changes in live cattle weights and grading percentages.) ** based on formula estimating lean hog equivalent of gross packer revenue. GENERAL COMMENTS: The news of the discovery of the HPAI virus in milk sent some traders running or the door looking to liquidate their long positions. Even though the consumption of pasteurized milk is safe and the consumption of meat is safe, consumers may react negatively. This may be the overriding influence on the market in the near term. The virus has not been found in beef cattle at this point but dairy cattle are slaughtered for beef as well. Some very light cattle trade developed in the South at steady money with last week which should be positive for the market. Boxed beef prices were lower with choice down $1.66 and select down $2.34.
DTN Midday Grain Comments 04/25 10:45
DTN Midday Grain Comments 04/25 10:45 Corn Flat to Higher, Beans Lower, Wheat Higher Corn trade is flat to a penny higher; beans are 9 to 11 cents lower and wheat trade is 3 to 6 cents higher. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: The U.S. stock market is weaker at midday with the S&P 60 points lower. The dollar index is down 10 points. The interest rate products are weaker. Energies are weaker with crude down 0.45 and natural gas off 2 cents. Livestock trade is weaker. Precious metals are mixed with gold up $5.00. CORN: Corn is flat to a penny higher in quiet two-sided trade at midday with spread action remaining flat and nearby support holding so far. Ethanol margins should remain range bound with corn and unleaded showing little change this week. Near-term weather looks to bring plenty of short-term rain to much of the belt which should boost emergence on early planting. The daily wire was quiet again today with weekly sales strong at 1.3 million metric tons of old crop, and 262,300 metric tons of new. Little change is seen near term for South American weather with some areas of concern lingering. On the July chart, the 20-day at $4.43 is nearby support with the recent high at $4.60 the next level of resistance. SOYBEANS: Soybeans are 9 to 11 cents lower with broad product weakness as we see selling after fading from nearby resistance yesterday. Meal is 3.50 to 4.50 lower and oil is 50 to 60 points lower. Brazil's harvest should be just about wrapped up, with Argentina bushels coming soon as the South America export season will stay in high gear. The daily wire was quiet today with weekly sales still soft seasonally at 210,900 metric tons old crop, and 120,100 new, with meal good at 307,900 metric tons old, and 35,100 new crop, while oil rebounded sharply to 16,200 metric tons. Planting progress while likely slow with the rains but the warmer weather should help emergence. The July soybean futures have support at the $11.40 recent low. Chart resistance is at the 20-day moving average at $11.80 which we have faded from midweek. WHEAT: Wheat trade is 3 to 6 cents higher at midday with trade looking to consolidate the upper end of the range further with the sharp rally so far this week. The plains will see seasonal to above normal temps to push the crop along with better overall rain chances expected into early May, while Black Sea concerns continue with recent dryness. The dollar continues to work a bit short of the highs with MATIF wheat holding at the upper end of the range. Weekly export sales were in line with recent weeks at 82,000 metric tons old crop, and 371,900 new. On the KC July Chart support is the 20-day at $5.85, with the fresh high at 6.37 as further resistance. David Fiala can be reached at dfiala@futuresone.com Follow him on social platform X @davidfiala (c) Copyright 2024 DTN, LLC. All rights reserved.
DTN Midday Livestock Comments 04/25 15:03
DTN Midday Livestock Comments 04/25 15:03
Cattle Shake HPAI News, Trade Higher Again
No new cash cattle sales have been reported, but packer interest should
improve throughout the afternoon.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Following Wednesday's descent, the live cattle complex is back to trading
higher as traders are encouraged by the Southern Plain's steady cash cattle
trade. With more HPAI news surfacing and the futures market electing to react
negatively to the virus, cattlemen are more focused on the market's
fundamentals given that the virus isn't posing significant illness to infected
cattle and the CDC continues to say there is little risk to humans.
Traders are mildly supporting the contracts again this morning even though
the market is back to trading below its 100-day moving average. June live
cattle are up $0.65 at $175.90, August live cattle are up $0.87 at $174.25 and
October live cattle are up $0.47 at $178.12. There were a few cattle that
traded Wednesday afternoon in the South at $182 which is fully steady with the
previous week's trade. Currently, bids of $182 to $183 live and $290 dressed
are being offered in Nebraska, but no cattle have sold in that region yet. For
the cattle left on showlists, asking prices in the South are firm at $184-plus
and Northern feedlots are asking $295. Packer interest is expected to improve
throughout the day.
Boxed beef prices are mixed: choice up $1.68 ($297.42) and select down $0.42
($290.00) with a movement of 57 loads (35.93 loads of choice, 8.94 loads of
select, zero loads of trim and 12 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is back to trading higher as traders shake the
news regarding the HPAI virus that was spread again on Wednesday and opt to
refocus on the support that feeder cattle sales have been seeing in the
countryside.
May feeders are up $0.50 at $244.60, August feeders are up $0.02 at $256.32
and September feeders are up $0.17 at $257.67. With turn-out season quickly
approaching, continuing to watch these feeder cattle sales in the countryside
will be insightful as everyone is curious about what the big summertime video
sales are going to accomplish.
LEAN HOGS:
The lean hog complex is trading notably lower into Thursday's noon hour as
traders seemed discouraged by the day's export report even though 28,800 metric
tons were sold. Early this year export sales were at times twice that much,
which is partly why traders have grown accustomed to seeing bigger sales. On
the bright side, at least midday pork cutout values are higher.
June lean hogs are down $2.70 at $104.75, July lean hogs are down $2.30 at
$107.55 and August lean hogs are down $1.67 at $105.47.
The projected lean hog index for April 24 is down $0.22 at $91.43 and the
actual index for April 23 is up $0.19 at $91.64. Hog prices are lower on the
Daily Direct Morning Hog Report, down $2.45 with a weighted average price of
$88.85, ranging from $84.45 to $93 with a movement of 1,180 head and a five-day
rolling average of $90.16. Pork cutouts total 144.40 loads with 120.13 loads of
pork cuts and 24.26 loads of trim. Pork cutout values: up $0.35, $97.62.
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
(c) Copyright 2024 DTN, LLC. All rights reserved.
DTN Closing Grain Comments 04/25 15:38
DTN Closing Grain Comments 04/25 15:38 Wheat Prices Push Higher a Sixth Day; Soybeans Rebound From Earlier Losses July KC wheat closed up 10 1/2 cents at $6.40 1/2, its highest close in 2024 as all three U.S. wheat prices continue to show concerns about recent threats of adverse weather. December corn was up 3 1/2 cents and November soybeans ended up a penny after trading over a dime lower earlier in the session. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: July corn closed up 3 1/2 cents and December corn was up 3 1/2 cents. July soybeans closed down 1 3/4 cents and November soybeans were up 1 cent. July KC wheat closed up 10 1/2 cents, July Chicago wheat was up 7 1/2 cents and July Minneapolis wheat was up 12 3/4 cents.
DTN Closing Livestock Comment 04/25 15:50
DTN Closing Livestock Comment 04/25 15:50 Northern Dressed Cattle Trade $2.00 to $3.00 Higher With feedlots in the North able to sell cattle $2.00 to $3.00 higher -- the futures complex didn't bat an eye at trading higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was an excellent day for the cattle complex as cash cattle sales were higher in the North, but the hog complex did struggle throughout the day as traders weren't disappointed early on from the morning's export report. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.78 with a weighted average price of $88.71 on 1,695 head. July corn is up 3 1/2 cents per bushel and July soybean meal is down $1.60. The Dow Jones Industrial Average is down 375.12 points.
DTN Cattle Close/Trends 04/25 15:50
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 04/24/24
VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
KANSAS CONFIRMED CASH SALES - TODAY: 2,069 WEEK TO DATE: 12,571
STEERS LIVE FOB
728 182.00-184.00 182.00-184.00 182.30
STEERS LIVE DELIVERED
No reportable trade
HEIFERS LIVE FOB
808 181.00-184.00 182.00-184.00 182.93
HEIFERS LIVE DELIVERED
No reportable trade
NEBRASKA CONFIRMED CASH SALES - TODAY: 12,924 WEEK TO DATE: 13,495
STEERS DRESSED DELIVERED
1,583 293.00-295.00 293.00-295.00 294.12
STEERS DRESSED FOB
No reportable trade
HEIFERS DRESSED DELIVERED
241 292.00-295.00 292.00-295.00 294.09
HEIFERS DRESSED FOB
No reportable trade
TEXAS CONFIRMED CASH SALES - TODAY: 310 WEEK TO DATE: 9,738
STEERS LIVE FOB
162 182.00-182.00 182.00-182.00 182.00
STEERS LIVE DELIVERED
No reportable trade
HEIFERS LIVE FOB
148 182.00-182.00 182.00-182.00 182.00
HEIFERS LIVE DELIVERED
No reportable trade
COLORADO CONFIRMED CASH SALES - TODAY: NA Conf WEEK TO DATE: NA Conf
STEERS LIVE FOB
NA Due to Confidentiality
STEERS LIVE DELIVERED
NA Due to Confidentiality
HEIFERS LIVE FOB
NA Due to Confidentiality
HEIFERS LIVE DELIVERED
NA Due to Confidentiality
IOWA CONFIRMED CASH SALES - TODAY: 6,784 WEEK TO DATE: 6,890
STEERS DRESSED DELIVERED
471 292.00-294.00 292.00-294.00 293.35
STEERS DRESSED FOB
No reportable trade
HEIFERS DRESSED DELIVERED
158 292.00-294.00 292.00-294.00 292.99
HEIFERS DRESSED FOB
No reportable trade
COMMENTS: Trade was reported in most feeding areas today with
Northern dressed deals at mostly $294, generally $2 higher than last week's
weighted averages. Southern live business was at mostly $182, fully steady
with both yesterday and last week's sales.
5-AREA LV STR AVG(FOB)PR&WT: $181.94(1361) HIDE&OFFAL: $11.42 -0.14
CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) HEAD
SUPPLY (Live) $277.08 $268.63 74,306
DEMAND (Box) $284.92 $277.66 48,384
INDEX VALUE $281.00 +0.73 $273.14 -0.24 122,690
BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#)
$296.92 +1.18 $289.66 -0.76
83.56 LDS CH CUTS / 14.38 LDS SEL CUTS / 4.19 LDS TRIM / 18.06 LDS GROUND
DAILY CHOICE/SELECT SPREAD $ 7.26 TOTAL LOAD COUNT 120
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 04/12 $303.29 -1.21
CUTTER 90% 350# UP C/O: $268.65 -0.54
NAT'L BONELESS BF TRIM: 25.67 lds / Shrply lr on lt dem & offers
90% TRIM: 14 lds: Wtd Avg: $345.73 / Mostly moderately lower
FI KILL(WTD) THU 125(488) WK AGO 118(487) YR AGO 123(487)
Previous Day Breakdown: WED SH 101 / CB 24
WEEKLY CANADIAN CATTLE IMPORTS.
WK ENDING FEEDERS SLAUGHTER S&H
Week Ending: 04/13/24 4,038 14,274
Week Ending: 04/06/24 3,218 14,078
Change from prev week: +820 +196
DTN Chart Technical Points 04/25 16:30
DTN Chart Technical Points 04/25 16:30 DTN FUTURES 10 4/25/24 SLOW STOCHASTIC PRICES ARE DECIMAL MOVING AVERAGES RSI'S 5 Day 20 Day CONTRACT CLOSE 4-Day 9-Day 18-Day 45-Day 9Day 14Day 30Day %K %D %K %D CBTWT MAY 602.25 588.00 564.17 560.67 556.11 76.52 68.67 57.29 95 90 84 52 CBTWT JUL 620.50 605.94 580.89 576.57 568.78 77.44 69.98 58.69 95 91 86 54 KC WT MAY 632.00 615.63 596.17 588.83 583.11 74.58 67.35 57.40 93 85 85 64 KC WT JUL 640.50 621.81 597.58 587.35 577.53 77.78 70.71 59.79 95 91 91 74 MN WT MAY 691.00 673.06 654.06 648.93 652.41 78.69 69.69 56.88 95 88 84 55 MN WT JUL 698.25 679.69 660.28 656.08 658.23 79.01 70.29 57.33 95 86 83 52 CORN MAY 441.00 440.38 434.94 433.75 433.21 58.42 55.32 49.94 79 84 61 42 CORN JUL 452.00 450.69 445.56 445.24 445.19 58.38 55.08 49.89 83 84 55 34 CORN SEP 461.75 459.75 454.50 454.81 454.37 59.58 55.89 50.69 88 86 57 35 OATS MAY 367.00 365.94 358.92 349.51 357.01 67.26 60.70 52.91 90 90 93 82 OATS JUL 351.00 352.94 347.53 341.22 350.53 58.32 54.08 48.87 78 85 85 72 BEANS MAY1162.751164.311154.971165.001171.57 48.54 46.97 45.01 78 78 39 23 BEANS JUL1179.751179.941170.081179.001184.42 50.45 48.29 45.77 81 80 42 24 BEANS AUG1183.001182.311171.691179.151182.37 52.76 50.07 46.99 82 81 45 25 S MEAL MAY 343.90 344.85 341.51 337.83 336.02 58.45 55.97 50.27 63 71 83 74 S MEAL JUL 347.60 346.93 342.72 339.86 338.87 61.88 57.88 51.00 77 78 82 65 B OIL MAY 44.82 44.96 44.86 46.29 46.69 37.59 39.36 43.01 71 69 21 15 B OIL JUL 45.43 45.56 45.43 46.84 47.20 38.06 39.75 43.39 71 69 22 15 CATTLE APR 183.95 183.31 182.06 181.07 184.58 58.63 54.04 51.04 69 76 62 48 CATTLE JUN 177.80 177.06 176.02 175.03 179.70 56.00 51.94 49.35 55 64 53 42 FEEDER APR 244.88 243.66 241.99 240.99 248.58 59.35 52.37 49.30 84 86 47 33 FEEDER MAY 246.25 245.39 242.82 241.13 250.18 57.91 52.39 49.01 78 81 56 42 HOGS MAY 95.28 96.98 95.87 96.03 93.32 48.06 51.76 55.66 61 79 66 61 HOGS JUN 105.00 106.48 104.60 105.15 102.70 51.36 53.59 56.35 75 85 64 53 COTTON MAY 79.58 79.84 79.99 83.17 90.01 28.57 30.12 37.65 60 51 13 9 COTTON JUL 81.08 81.56 81.94 84.94 90.37 27.67 30.31 38.27 41 41 11 10 RICE MAY 19.08 19.11 18.89 17.72 17.77 74.75 69.18 60.60 77 77 91 92 RICE JUL 19.17 19.29 18.97 17.81 17.91 71.07 67.26 60.26 73 76 89 91
