US Direct Feeder Pigs 09/03
DTN Chart Technical Points 12/01 16:30
DTN Chart Technical Points 12/01 16:30 DTN FUTURES 10 12/01/23 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 DEC 577.00 561.75 553.81 562.14 567.45 61.34 55.68 49.84 93 72 40 25 CBTWT MAR 602.75 589.63 581.61 588.74 595.16 60.49 55.21 49.68 89 71 42 27 KC WT DEC 645.00 635.31 619.33 628.61 649.24 59.97 53.33 46.01 96 83 52 27 KC WT MAR 646.75 635.44 624.42 636.11 657.96 57.33 51.12 44.83 94 77 43 23 MN WT DEC 702.50 699.06 701.44 715.43 720.01 43.23 42.45 42.25 59 41 23 16 MN WT MAR 730.25 724.56 721.97 732.82 739.82 50.68 47.58 44.53 82 60 39 23 CORN DEC 464.50 456.88 461.61 466.61 478.24 48.63 46.09 45.47 48 27 22 17 CORN MAR 484.75 479.19 482.08 484.89 494.37 50.04 47.54 46.53 52 33 28 27 CORN MAY 496.75 491.56 493.81 495.58 503.59 51.56 48.89 47.38 54 34 31 33 OATS DEC 394.75 371.75 366.67 357.44 381.26 70.31 61.48 51.37 74 56 64 53 OATS MAR 384.75 371.38 375.56 371.00 398.02 55.61 50.31 45.42 44 35 45 45 BEANS JAN1325.001340.311346.971355.511327.53 40.04 44.48 48.54 38 36 32 43 BEANS MAR1345.501359.501365.061371.291341.82 41.39 45.72 49.59 43 40 38 48 BEANS MAY1360.501373.191378.171383.351354.39 42.16 46.38 50.24 45 41 40 50 S MEAL DEC 425.30 440.53 450.63 454.68 425.45 27.54 38.86 49.44 6 14 38 53 S MEAL JAN 412.70 423.55 431.98 437.99 414.73 29.02 39.18 48.87 7 11 29 44 B OIL DEC 51.38 52.42 52.67 52.01 52.83 43.69 44.97 45.09 35 44 61 67 B OIL JAN 51.45 52.32 52.13 51.39 52.20 47.94 47.80 46.33 59 63 68 67 CATTLE DEC 169.28 170.92 171.96 174.08 180.31 30.50 32.17 36.88 38 36 12 10 CATTLE FEB 169.13 171.81 172.78 174.73 182.41 31.88 33.04 36.32 43 43 14 12 FEEDER JAN 214.43 219.41 221.67 225.23 237.83 31.54 32.28 34.74 46 44 19 17 FEEDER MAR 217.23 221.89 224.47 227.80 240.55 30.37 31.32 34.16 42 41 17 16 HOGS DEC 68.60 68.82 68.61 70.25 70.02 40.97 43.30 46.04 73 63 22 20 HOGS FEB 70.10 70.17 70.62 73.12 73.50 41.16 41.81 43.93 75 55 29 22 COTTON DEC 78.42 78.75 78.76 78.13 81.72 45.71 44.27 43.83 46 44 52 45 COTTON MAR 79.42 79.67 80.20 80.09 83.55 37.48 38.12 41.30 31 27 29 30 RICE JAN 17.19 17.33 17.37 17.06 16.52 54.11 57.78 58.00 33 42 81 86 RICE MAR 17.45 17.58 17.58 17.28 16.79 55.65 58.70 58.50 46 52 83 87
DTN Early Word Livestock Comments 12/04 06:13
DTN Early Word Livestock Comments 12/04 06:13 Traders May Begin the Week Cautiously The cattle complex fell apart on Friday with feeder cattle posting over $5.00 losses. Futures fell back near the lows as the market was unable to find strong buyer interest. Hogs were lower suffering some of the same fate, but not with the pressure of cattle. Cash and cutouts remained weak. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Lower Live Equiv: $215.36 -$0.62* Hogs: Lower Futures: Mixed Lean Equiv: $91.00 -$0.32** *Based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. 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: Cattle futures just could not maintain any of the strength after the lows were reached earlier in the week. This weakness may set the stage for lower cash again this week. Packers will likely use this weakness to bid lower as feedlots may want to move cattle before price drops further. Contract lows will need to hold, or more technical selling will erupt. Cash cattle trade on Friday was in line with the week which should have been factored into the market. It seemed like it was end of the week selling as traders were uncertain over further upside potential in the near term. Feeder cattle plummeted and closed near their previous lows. The Commitment of Traders report showed funds trimmed their net long live cattle futures positions by 2,479 contracts, moving to a net long of 32,691. Feeder cattle showed funds selling 721 contracts moving them to a net short of 1,179 contracts.
DTN Early Word Grains 12/04 06:18
DTN Early Word Grains 12/04 06:18 Grain Markets Mostly Lower Monday Morning, Led by Soybeans Reacting to Wet South American Forecasts EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 1/2 cents per bushel, January soybeans are down 9 cents, March KC wheat is up 1/4 cent, March Chicago wheat is up 2 1/2 cents and March Minneapolis wheat is down 2 1/2 cents. By Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 1/2 cents per bushel, January soybeans are down 9 cents, March KC wheat is up 1/4 cent, March Chicago wheat is up 2 1/2 cents and March Minneapolis wheat is down 2 1/2 cents. CME GLOBEX RECAP: U.S. equity markets are lower Monday morning amidst an escalation of Middle East hostilities, including an attack on a U.S. Naval Vessel in the Red Sea and other commercial ships in that area. Traders are also considering Friday's comments from Fed Chairman Jerome Powell, which tried to walk back the idea that rate cuts would be occurring in the first half of 2024. Finally, traders are monitoring COP28, the meeting of world leaders on climate change, for indications of policies that would come with economic impacts. OUTSIDE MARKETS: Previous close Friday showed the Dow Jones Industrial Average up 294.61 at 36,245.50 and the S&P 500 up 26.83 at 4,594.63, The 10-Year Treasury yield ended at 4.23%. Early Monday, December Dow Jones futures are down 63 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.38%, spot futures of Germany's DAX trading up 0.19% and the spot futures of France's CAC 40 Index down 0.05%. Asian markets are lower with Japan's Nikkei 225 Index down 0.6% and China's Shanghai Composite Index down 0.29%.
DTN Closing Grain Comments 12/04 06:25
DTN Closing Grain Comments 12/04 06:25 Soy Complex Closes Lower With More Rain Coming To Central Brazil January soybeans closed down 17 3/4 cents Friday, also accompanied by lower closes in soybean meal, bean oil and canola with rains expected to pick up in central Brazil this weekend. March corn was up 2 cents and March contracts of winter wheat ended modestly higher. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: March corn closed up 2 cents and July corn was up 1 3/4 cents. January soybeans closed down 17 3/4 cents and July soybeans were down 13 3/4 cents. March KC wheat closed up 3 3/4 cents, March Chicago wheat was up 4 3/4 cents and March Minneapolis wheat was up 3/4 cent.
DTN Closing Livestock Comment 12/04 06:26
DTN Closing Livestock Comment 12/04 06:26 Feeder Cattle Futures Tumble Lower Friday Active pressure in livestock futures trade Friday was led by aggressive market losses across the feeder cattle complex. The optimism seen Tuesday and Wednesday has been fully eroded as January feeder cattle fell nearly $5 per cwt through the week. Rick Kment DTN Analyst GENERAL COMMENTS: Week Ended: 12/1/23: From Friday-to-Friday, livestock futures scored the following changes: December Live Cattle off $0.97, February Live Cattle off $1.85; January Feeder Cattle off $4.90, March Feeder Cattle off $5.50; December Lean Hogs up $1.03, February Lean Hogs up $1.33; December Pork cutout up $1.95.
DTN Midday Livestock Comments 12/04 06:27
DTN Midday Livestock Comments 12/04 06:27 Cattle Futures Follow Feeder Cattle Prices Lower Active pressure Friday in all feeder cattle futures has created a weaker tone through the livestock market. Early month trade has taken a negative tone with $3 to $4 per cwt losses holding across the feeder cattle complex. Rick Kment DTN Analyst GENERAL COMMENTS: The month of December is starting where November left off, with cattle futures shifting lower as limited end of the week activity is further eroding the gains seen earlier in the week. Live cattle and feeder cattle futures remain above multi-month lows seen Monday, but the quick and aggressive pullback from midweek gains is creating some additional concerns about the ability for current support levels to hold over the next few trading sessions. Hog futures are mixed a moderate trading range with nearby futures holding losses of nearly $1 per cwt at midday, although slight gains are still able to hold in deferred contracts. Very limited market direction is likely to be seen through the end of the week in most lean hog trade, as traders look for additional pre-holiday market shifts possible over the next couple of weeks. March corn is up 3 at $4.858 and January soybean meal is down $8.80 at $415.2. The Dow Jones Industrial Average is up 227.44 at 36,178.33. LIVE CATTLE: Live cattle futures have posted additional firm losses Friday morning. The fact that calendars rolled to the month of December did not change the overall tone of market direction seen at the end of November. February futures, which are the most actively traded contract in the live cattle complex, has fallen nearly $3 per cwt over the past two trading sessions. Although prices are still hovering above support levels and multi-month lows set earlier in the week, concerns that limited renewed support in both fundamental buying interest and technical trade could revert to additional follow through losses during early December. Feeder cattle futures continue to be a significant driver in the live cattle complex at the end of the week, as traders remain concerned of the extreme volatility in nearby feeder cattle contracts. Cash cattle markets remain quiet Friday morning. Although some additional trade is likely to be seen before the end of the week, it is uncertain just how much additional price movements will develop during the day Friday. Trade trickled in through most of the week with light and scattered trade seen in most areas over the past four days. Southern trade posted prices from $171 to $175 per cwt, mostly $174 to $175 per cwt, which is generally $2 to $3 per cwt lower than last week's average. Northern dressed trade developed at $275 per cwt, $4 per cwt under last week's weighted average. Some minor price shifts may develop, but the tone of the market is expected to remain weak. At this point, feeders are hoping for some stability heading into the first couple weeks of December. December live cattle are $0.80 lower at $170.075, February live cattle are $1.38 lower at $170.45, April live cattle are $1.60 lower at $172.825. Boxed beef prices are mixed: choice down $1.00 ($298.02) and select up $1.16 ($265.91) with a movement of 115.24 loads (78.08 loads of choice, 9.60 loads of select, zero loads of trim and 27.56 loads of ground beef). FEEDER CATTLE: Feeder cattle are sharply lower once again Friday morning with $3 to $4 per cwt losses holding at midday. The aggressive early month pressure in the complex is creating additional concerns that early week support levels set Monday may not be able to hold unless renewed buyer interest develops over the upcoming days. Very little has changed in market fundamentals over the last week, but the concern that current cattle on feed and additional cattle still need to be placed may limit long-term support if overall beef demand does not meet or exceed expectations. This could keep feeder cattle futures moving in a volatile but weaker pattern through the near future and add to market uncertainty in all cattle markets. January feeders are $3.38 lower at $216.575, March feeders are $3.75 lower at $218.825 and April feeders are $3.95 lower at $222.725. LEAN HOGS: Lean hog futures have remained mixed during morning trade with moderate pressure in nearby contracts offset by fractional gains in lightly traded deferred contracts. The weakness sweeping through cattle markets is having an impact on nearby lean hog futures due to overall trader activity. Traders are also focusing on potential moves in both cash hog values and pork prices up to and through the holidays, as this may have a longer-term direction on trade interest, especially in spot month contracts. December lean hogs closed steady, February lean hogs are $0.78 lower at $70.70 and April lean hogs are $0.43 lower at $76.925. Hog Prices are lower on the Daily Direct Morning Hog report, down $2.97 with a weighted average of $56.79, ranging from $52.00 to $62.00 on 2,259 head with a five-day rolling average of $59.81. Pork Cutouts totaled 198.99 loads with 179.53 loads of pork cuts and 19.46 loads of trim. Pork cutout values are down $3.13 at $81.15. Rick Kment can be reached at kmentrick@gmail.com ** Register now for DTN's Virtual Ag Summit on Dec. 5 and 6, a virtual event that offers discussions of farmland values, tax advice, the latest technological advances, and the challenges of having a family business. On Wednesday, Ag Meteorologist John Baranick will give an early glimpse of what to expect from the weather in 2024 and Todd Hultman will give you his best assessment of where corn and soybean prices are headed in the year ahead. Register for this free event at https://www.dtn.com/2023-ag-summit-series/. Can't make it those two days? A recorded link will be provided, but you need to register. (c) Copyright 2023 DTN, LLC. All rights reserved.
DTN Midday Grain Comments 12/04 06:31
DTN Midday Grain Comments 12/04 06:31 Corn and Wheat Higher, Beans Lower at Midday Friday Corn trade is 1 to 4 cents higher; beans are 13 to 15 cents lower and wheat trade is flat to 4 cents higher. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: The U.S. stock market is mixed with the S&P 6 points lower. The dollar index is 2 points lower. Interest-rate products are firmer. Energies are firmer with crude up $.10 and natural gas up $.01. Livestock trade is weaker. Precious metals are firmer with gold up $19. CORN: Corn trade is 1 to 4 cents higher at midday with firmer spread action as trade tries to challenge nearby resistance as oversold conditions ease from the early week lows. Ethanol margins are narrowing a bit with corn bouncing and unleaded holding near the lower end of the range with tepid recent demand. Basis should remain steady short term. The daily wire remained quiet into the end of the week. South American weather should see little change in the immediate term from the recent pattern. On the March chart, the 20-day average at $4.85 is nearby resistance which we are just below at midday with the fresh low at 4.70 1/2 as support. SOYBEANS: Soybean trade is 13 to 15 cents lower at midday with trade fading back to the overnight lows with action continuing to chop along the lower end of the recent range with meal longs continuing to unwind. Meal was $9 to $10 and oil is 50 to 60 points lower. The daily wire remained active with 132,000 metric tons sold to China, and 198,000 to unknown. Basis continues to drift sideways short term. The South American weather pattern will be watched for sustained moisture into midmonth for the drier areas with forecast models still diverging a bit in the extended. The January soybean chart has resistance at the 20-day at $13.56, with the lower Bollinger Band at $13.20 as support. WHEAT: Wheat trade is flat to 4 cents higher with trade working to consolidate gains into the week after pushing into resistance levels yesterday. The Plains snow cover should fade with warmer temps into the end of the week with more seasonal temps to follow. World weather has shown little change in recent days with little concern in the Northern Hemisphere for now and Southern Hemisphere harvest to expand. Matif wheat is just a bit higher at midday. On the KC March Chart, support is at the fresh low of $5.95 with the 20-day moving average at $6.37 as resistance which we are just above overnight. ** Register now for DTN's Virtual Ag Summit on Dec. 5 and 6, a virtual event that offers discussions of farmland values, tax advice, the latest technological advances, and the challenges of having a family business. On Wednesday, Ag Meteorologist John Baranick will give an early glimpse of what to expect from the weather in 2024 and Todd Hultman will give you his best assessment of where corn and soybean prices are headed in the year ahead. Register for this free event at https://www.dtn.com/2023-ag-summit-series/. Can't make it those two days? A recorded link will be provided, but you need to register. ** David Fiala can be reached at dfiala@futuresone.com. Follow him on X, formerly Twitter, @davidfiala. (c) Copyright 2023 DTN, LLC. All rights reserved.
DTN Cattle Prices/Trends 12/04 07:45
DTN CATTLE PRICES/TRENDS 12/04 07:45 TOTALS OF WEEKLY SALES REPORTED TO DTN FOR THE WEEK OF: 11/27-12/01 STATE HEAD SOLD LIVE PR RANGE DRESSED PR RANGE KS 2,100 174.00-175.00 . NE 2,300 175.00 275.00 TX 2,000 174.00-175.00 . CO 0 . . IA 1,300 174.00-175.00 275.00 DTN WEEKLY ROUND UP: Cash cattle sales were rather different last week, as business started up on Monday and continued everyday right through to Friday. Albeit a very light trade each day. Southern live deals had a full range of $171 to $175, mostly $174 to $175, $2 to $3 lower than last week's weighted averages. Northern dressed business had a full range of $272 to $277, mostly $275, $4 lower than the prior week's weighted averages. According to Thursday's Daily Direct Slaughter Cattle Negotiated Purchase Summary reports, weekly accumulated average price totals were as follows, (the prior week's weighted averages are listed in parentheses). KS $174.26 ($176.95); NE $274.84($278.68); TX $174.50($176.95); IA $274.62($278.91); CO not available due to confidentiality. The Friday Afternoon Daily Direct Slaughter Cattle report lists week-to- date trade volume totals as: KS 8,565; NE 14,442; TX 6,464; IA 24,397; CO not available due to confidentiality. Friday's slaughter totaled 122,000 head, 4,000 more than the prior week, but 2,000 less than the previous year. Saturday's kill was estimated at 19,000 head, bringing the weekly total to 635,000 head, 97,000 greater than the prior holiday week, and 25,000 below 2022. The weekly averages for boxed beef cutouts and boxed beef cuts: choice $297.79(+1.14), select $265.70(-3.33), with an average choice select spread of $32.09(+4.12), and a total load count including cuts, trimmings, and grinds of 747(+220). Changes from the prior week are listed in parentheses. For the week ending November 25, 2023, Imported Beef Passed for Entry in the U.S. totaled 37,794, 80.07% of the previous week and 84.38% of the 4- week average. DTN MORNING COMMENTS: It will likely be a rather quiet Monday with both buyers and sellers preparing for the week ahead. Bids and asking prices are not established. Significant trade volume will likely be delayed until the second half of the week. Beef cutouts are expected to be mixed with generally light box movement. NOTE: The price and volume information listed on this page is supplied by DTN subscribers in the interest of general cash market awareness. All cattle feeding subscribers are encouraged to report sales in a timely fashion, to compensate for the systematic delays of mandatory reporting. While all transactions will be posted on an anonymous basis, callers are required to identify themselves and the location of the actual sales. DTN believes this data to be accurate but cannot guarantee its specific reliability or whether it fairly represents the larger cash market. Feedlots are encouraged to call DTN with any cattle sales, at 1-402-461-3561. All sales will be listed anonymously and organized by state. A weekly summary of this data will be posted on the Weekly Cattle Sales Reported to DTN page and will be left up for the entire week for reference purposes.
