Home
  Alton Comments
  Calendar
  Links
  Receiving Schedule
  Contact Us
  Cash Grain Bids
  Discount Schedules
  USDA Reports
  NDAWN Network
  NDAWN Corn GDD
  Futures Markets
  Market News
  Markets Page
  Charts
  Options
  Weather
  Headline News
  DTN Ag Headlines
  Portfolio
  Crops
  DTN Renewable Fuels

 
Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Early Word Livestock Comments      12/06 06:14
   Trades Wait for Fundamental Direction

   Live cattle traded in a narrow range Monday as traders were uncertain over
cash trade this week and whether packers may begin to reduce slaughter. Hogs
were in a similar pattern, closing mixed for the day with cutouts taking back
the previous day's gains.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Steady         Futures: Mixed     Live Equiv:   $181.69 -$4.00*

   Hogs: Higher           Futures: Mixed     Lean Equiv:   $94.38 -$2.48**

   *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:

   Live cattle could not find the support needed to push futures significantly
higher. Nearby contracts could not break to new highs while June and later were
able to make new contract highs as optimism remains. The key will be slaughter
pace. It is anticipated packers may reduce slaughter pace, which could limit
what they will be paying for cattle. So far demand has been good, but the sharp
decline of boxed beef Monday is concerning. Boxed beef had been struggling but
choice falling $6.62 and select down $3.45 was not a good sign. However,
tightening supplies of cattle may keep prices supported even if slaughter pace
decreases. Feeder cattle posted strong gains for the fourth consecutive day,
moving higher due to the weakness of corn.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Comments on this web site are for information only. User should not use any generic comments for personal purposes. Trading of futures and options can be risky.
Powered By DTN