US Direct Feeder Pigs 07/26
DTN Early Word Grains 08/17 05:55
DTN Early Word Grains 08/17 05:55 Europe Shows End-of-Week Wheat Rally December corn was up 2 1/4 cents, November soybeans were down 3/4 cent, and December K.C. wheat was up 16 1/4 cents. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: December corn was up 2 1/4 cents, November soybeans were down 3/4 cent, and December K.C. wheat was up 16 1/4 cents. CME Globex Recap: European stocks and Dow Jones futures are a little lower early Friday with the Turkish lira also trading lower after Bloomberg news reported the U.S. threatened more sanctions against Turkey. Outside commodities are mixed with crude oil a little higher. Grains are also mixed with K.C. wheat prices attracting early commercial buying. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 396.32 points at 25,558.73 and the S&P 500 up 22.32 points at 2,840.69 while the 10-year Treasury yield ended at 2.87%. Early Friday, DJIA futures were down 27 points. Asian markets are mixed with Japan's Nikkei 225 up 78.34 (0.3%) and China's Shanghai Composite down 36.23 (-1.3%). European markets are a little lower with London's FTSE 100 down 8.94 points (-0.1%), Germany's DAX down 26.99 points (-0.2%), and France's CAC 40 down 0.43 points (-0.01%). The euro was up .0028 and the U.S. dollar index was down 0.16 at 96.44. September 30-year T-Bonds were up 14/32nds while December gold was up $0.20 at $1,184.20 and September crude oil was up $0.21 at $65.67. Soybeans on China's Dalian Exchange were a little lower and Malaysian palm oil futures were up 1.2%.
DTN Early Word Opening Livestock 08/17 05:57
DTN Early Word Opening Livestock 08/17 05:57 Lean Hog Paper Staged to Open Moderately Higher Look for hog futures to open moderately higher, supported by follow-through buying and oversold chart conditions. On the other hand, assume that cattle contracts will open on a mixed basis as traders position ahead of late-week cash business. By John Harrington DTN Livestock Analyst Cattle: Steady-$1 HR Futures: Mixed Live Equiv: $138.96 -0.16* Hogs: Steady-$1 LR Futures: 50-100 HR Lean Equiv: $ 72.74 - .86** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: After trading a few thousand cattle earlier in the week, packers and feedlots each went into shutdown mode, setting the stage for yet another do-or-die late-week cash market. Cash traders will no doubt quickly reclaim previous bids and asking prices (e.g., $108 bids; $112 to $114 asking prices) and then sit back for several hours, perhaps hoping the board will swing one way or the other, hoping something will make the other side blink. Live and feeder futures should open on a mixed basis, thanks to a light combination of pre-cash long liquidation and short-covering.
DTN Midday Grain Comments 08/17 10:59
DTN Midday Grain Comments 08/17 10:59 Grains Mixed at Midday Wheat trade leads at midday with row crops action slightly lower. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are mixed with the Dow futures up 36. The interest rate products are weaker. The dollar index is 34 points lower. Energies are mostly higher with crude up 0.45. Livestock trade is narrowly mixed. Precious metals are higher with gold up $1.70. CORN Corn trade is 1 to 2 cents lower at midday with trade fading slightly off as soybeans turn lower and wheat fades from the high. Ethanol margins remain tighter with corn at the upper end of the recent range and summer driving season winding down with ethanol futures down another penny or so this morning. Corn basis will likely continue to fade with more harvest activity building with the advanced crop and with the higher board. On the December chart, futures have support at the 20-day moving average at $3.78 which we are testing at midday with the post-report low below at $3.66 with resistance the recent high at $3.88. soybeans Soybean trade is 6 to 9 cents lower with trade backing off the highs seen overnight after the strong buying yesterday on talk of further trade negotiations with China and little fresh news this morning. Meal is $3.50 to $4.50 lower and oil is 5 to 15 points lower. Trade is well off the post-report lows, with late coming shorts getting squeezed out of the market. Basis continues to crumble ahead of harvest with early harvest just over the horizon and the export program under booked for fall. On the November chart support is at the $8.88 20-day which we are just above at midday, then down at the $8.51 one-month low printed on Monday. Resistance is the $8.99 1/2 weekly high then the $9.22 2-month high. WHEAT Wheat trade is 8 to 15 cents higher at midday with volatile trade continuing with trade 20 cents higher overnight briefly with continued talk about export issues coming forward from the Black Sea with talk that eventually Russia will have an upper limit on exports this year, but nothing is confirmed or defined yet. Spring wheat harvest should continue to move along at a good clip. The strong U.S. dollar is keeping the U.S. less competitive on the world market with the ongoing issues with Middle Eastern importers focusing on the Black Sea for origination. Matif wheat solidly higher this morning, giving us support as well. Australia remains on the dry side with the crop pace ahead of normal as well with some relief for some areas. On the December Kansas City chart, we have support at the low printed yesterday at $5.60 3/4 then the 100-day at 5.55, with resistance the 10-day at 5.89, which we are just below at midday with the overnight high at 5.96. David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered adviser. He can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala (BAS) Copyright 2018 DTN/The Progressive Farmer. All rights reserved.
DTN Midday Livestock Comments 08/17 12:12
DTN Midday Livestock Comments 08/17 12:12 Hogs Maintain Firm Gains Despite limited trade seen in all livestock markets Friday, moderate to firm gains have held across lean hog trade with the focus on extending previous support is carried into the weekend. By Rick Kment DTN Analyst GENERAL COMMENTS: Firm follow-through gains are seen through lean hog futures following the aggressive limit gains that developed Thursday. The tone of the market remains bullish as traders extend gains off of recent long-term lows. Cattle markets remain mixed in a narrow to moderate trading range with little new market direction developing Friday. Corn markets are lower in light trade activity. September corn futures are 2 cents lower. Stock markets are mixed in active trade. The Dow Jones is 53 points higher while Nasdaq is down 24 points. LIVE CATTLE: Moderate market moved are seen in live cattle trade with nearby contracts trading steady to 50 cents higher, while deferred contracts are trading steady to 20 cents per cwt lower. The overall lack of support in deferred markets has limited the overall support through the entire complex late in the week. Traders are also focusing on the lack of cash market support in the market, which could leave prices unable to shift higher in the near future. Cash cattle trade is starting to develop in the North with dressed trade of $173 per cwt seen through the morning. This is generally $2.50 per cwt lower than last week. With early sales little changed from bids seen earlier in the week, it indicates that the market tone has weakened, leaving other markets uncertain through the rest of the day. Bids remain at $108 live basis, as more interest is expected through the rest of the day. Boxed Beef cut-outs at midday are higher, $0.23 higher (select) and up $2.20 per cwt (choice) with light movement of 58 total loads reported (27 loads of choice cuts, 11 loads of select cuts, 8 loads of trimmings, 13 loads of ground beef). FEEDER CATTLE: Light trade has developed in cattle futures Friday morning with feeder cattle trade focusing on limited volume, but helping to sustain the underlying buyer support that has developed through the week. Prices are mixed from 27 cents per cwt lower to 25 cents per cwt higher. This may add some additional underlying activity to the complex early next week, but traders seem to be content with allowing prices to coast into the weekend, given the narrowly mixed trading range Friday morning. LEAN HOGS: Firm gains have continued to develop across the lean hog complex. This is adding overall support to the entire complex although there is some disappointment suspected through the market that prices are not able to continue on the aggressive path higher following limit gains Thursday. But the limited volume seen Friday is also keeping most traders unwilling to quickly step back into the market before the weekend break. Cash prices are lower on the National Direct morning cash hog report. The weighted average price is down $0.86 at $40.52 per cwt with the range from $39.00 to $42.00 on 3,784 head reported sold. Cash prices are lower on the Iowa/Minnesota Direct morning cash hog report. The weighted average price is down $1.86 at $39.69 per cwt with the range from $39.00 to $41.50 on 566 head reported sold. The National Pork Plant Report posted a total of 135 loads selling with cutout values gaining $0.28 per cwt at $68.77 per cwt in the morning report. Lean hog index for 8/15 is at $54.21 down 1.02 with a projected two-day index of $52.94, down 1.27. Rick Kment can be reached at rick.kment@dtn.com (SK) Copyright 2018 DTN/The Progressive Farmer. All rights reserved.
DTN Closing Grain Comments 08/17 14:00
DTN Closing Grain Comments 08/17 14:00 Wheat Jumps Higher on Early Morning Rumor December contracts of all three wheats closed higher Friday, spurred by an early morning rally in Europe, which appears related to an unconfirmed rumor that Russia may be considering curbing its grain exports. Row crops were lower most of the day, facing a favorable seven-day forecast, but finished with relatively small losses.
DTN Cattle Close/Trends 08/17 15:35
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 08/17/18
VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
KANSAS CONFIRMED CASH SALES - TODAY: 1,634 WEEK T0 DATE: 1,669
STEERS 228 110.00-110.00 110.00-110.00 110.00
HEIFERS 418 109.00-110.00 109.00-110.00 109.63
NEBRASKA CONFIRMED CASH SALES - TODAY: 24,411 WEEK TO DATE: 30,240
STEERS 6,823 171.00-174.00 171.00-174.00 173.06
HEIFERS 3,131 173.00-174.00 173.00-174.00 173.09
TEXAS CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 0
STEERS No reportable trade
HEIFERS No reportable trade
COLORADO CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 0
STEERS No reportable trade
HEIFERS No reportable trade
IOWA CONFIRMED CASH SALES - TODAY: 6,719 WEEK TO DATE: 15,653
STEERS 1,871 172.00-174.00 172.00-174.00 173.31
HEIFERS 594 172.00-174.00 172.00-174.00 172.99
COMMENTS: A moderate to active trade developed in parts of the North earlier
This afternoon, at mostly $173, roughly $2.50 lower than the previous week's
Weighted average basis Nebraska. At the time of this close the South had yet
to report much significant trade volume totals.
5-AREA LV STR AVE PR&WT: $109.10(1395) HIDE&OFFAL: $9.26 +0.11
CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) #OF HD
LIVE BASED 165.53 157.55 38,790
BOX BASED 199.38 188.92 40,400
AVE INDEX 182.46 +0.87 173.24 -0.53 79,190
BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#)
211.38 +2.28 200.92 -0.54
40.48 LDS CH CUTS / 19.67 LDS SEL CUTS / 9.90 LDS TRIM / 17.90 LDS GROUND
BOXED BEEF TREND: Hr on ch & wk on sel on mod-frly gd dem & lt offers
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 08/10 $203.70 +0.14
CUTTER 90% 350# UP C/O: $168.90 +0.57
NAT'L BONELESS BF TRIM: 16.16 lds / Sharply hr on gd dem & lt offers
90% TRIM: 08 lds: Wtd Avg $212.36 / Unevenly steady
FI KILL(WTD) FRI 119(593) WK AGO 116(593) YR AGO 117(583) MIX: THU SH96/CB24
THU 67(660) WK AGO 52(645) YR AGO 53(635)
WEEKLY CANADIAN CATTLE IMPORTS.
FEEDERS SLAUGHTER S&H
Week Ending: 08/04/18 761 5,768
Week Ending: 07/28/18 1,815 6,666
Change from prev week: -1,054 -898
DTN Chart Technical Points 08/17 16:30
DTN Chart Technical Points 08/17 16:30 DTN FUTURES 10 8/17/18 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 SEP 560.50 544.19 551.08 551.07 518.91 59.42 58.28 55.72 39 24 47 55 CBTWT DEC 579.75 563.69 571.72 571.78 537.37 58.92 58.18 55.84 36 21 49 57 KC WT SEP 565.00 548.38 559.58 557.44 520.28 58.23 57.80 55.12 33 17 51 61 KC WT DEC 592.00 575.56 586.28 584.39 545.29 58.59 58.25 55.55 34 18 52 61 MN WT SEP 608.50 596.13 608.47 606.14 570.32 56.58 57.10 54.25 29 17 58 68 MN WT DEC 625.25 613.13 625.47 622.64 586.91 56.67 57.36 54.76 29 16 58 68 CORN SEP 364.25 363.31 364.31 365.19 359.05 52.04 51.30 48.02 64 51 54 62 CORN DEC 378.75 377.75 378.39 379.38 372.32 52.83 52.07 48.82 66 54 55 62 CORN MAR 390.75 389.50 389.86 390.51 383.14 54.20 53.10 49.54 70 56 59 64 OATS SEP 258.75 255.63 257.53 248.68 241.16 60.69 60.60 57.21 30 21 68 73 OATS DEC 267.00 264.63 266.61 257.29 246.66 61.46 61.77 58.34 30 22 69 74 BEANS SEP 881.50 873.19 876.53 879.92 872.78 52.97 51.02 46.30 63 49 42 48 BEANS NOV 892.75 884.63 887.69 890.63 883.29 53.13 51.25 46.68 64 49 43 49 BEANS JAN 905.00 896.75 899.50 901.93 893.56 53.54 51.68 47.14 64 49 45 51 S MEAL SEP 330.10 332.50 330.92 331.61 331.50 48.59 47.97 45.38 66 69 53 44 S MEAL OCT 330.70 333.23 331.50 331.86 331.40 49.01 48.48 45.96 66 70 55 46 B OIL SEP 28.23 28.13 28.32 28.42 28.67 46.70 45.57 43.14 40 37 35 45 B OIL OCT 28.36 28.26 28.44 28.53 28.78 47.16 45.90 43.31 41 39 36 45 CATTLE AUG 109.43 108.51 108.63 108.76 107.09 58.82 57.33 55.00 66 45 37 47 CATTLE OCT 110.88 109.47 109.58 109.99 109.18 59.15 56.36 53.66 66 45 33 36 FEEDER AUG 150.95 149.80 149.73 150.71 150.63 53.25 51.76 52.04 73 46 20 17 FEEDER SEP 151.82 149.94 149.47 150.64 150.82 58.05 54.62 53.16 82 62 31 25 HOGS OCT 58.60 54.60 52.33 51.75 55.24 77.22 66.70 53.80 90 78 70 48 HOGS DEC 55.28 51.46 48.80 47.68 50.78 80.16 69.45 55.85 96 89 85 62 COTTON OCT 81.75 82.09 84.47 86.85 86.75 25.37 31.27 41.53 9 10 8 11 COTTON DEC 81.39 81.74 84.14 86.35 85.97 26.68 32.36 42.05 11 10 8 15 RICE SEP 10.35 10.33 10.50 11.15 11.32 26.19 29.15 36.85 54 37 14 9 RICE NOV 10.52 10.52 10.66 11.20 11.28 27.41 30.77 38.24 53 38 15 9
DTN Closing Livestock Comment 08/17 16:51
DTN Closing Livestock Comment 08/17 16:51 Lean Hog Futures Slam Sharply Higher for the Second Consecutive Session Lean hog contracts closed sharply higher, supported by more encouraging talk about improving U.S. and Chinese conditions and a late-week wave of technical-buying. The cattle complex also closed sharply higher thanks to late-week short-covering and spillover buying from the lean hog market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS A fairly active cattle market developed in the Northern tier Friday with dressed deals marked at mostly $173, roughly $2.50 lower. Live trading in the North was mostly marked at $109 to $110, generally $1 to $2 lower basis in Nebraska. On the other hand, cash business in the South remains rather slow as of this writing. Some live steers and heifers have sold at $110, $1 lower than last week. The National hog base closed off $0.86 compared with the Prior Day settlement ($39 to $42, weighted average $42.33). From Friday to Friday livestock futures scored the following changes: Aug LC up $1.17; Oct LC up $1.62; Aug FC up $1.05; Sep FC up $2.30; Oct LH up $7.43; Dec LH up $7.80. Corn futures closed a penny lower in late-week profit-taking. Having said that, the corn market generally enjoyed a week of recovery following the bearish reaction to the August 1 crop report. The stock market closed higher with the Dow up 110 points and the Nasdaq better by 9.
