National Lean Hog Values 01/20
DTN Midday Grain Comments 01/21 11:02
DTN Midday Grain Comments 01/21 11:02 Corn, Beans Higher at Midday; Wheat Trending Lower Corn is 2 to 3 cents higher, soybeans are 7 to 8 cents higher, and wheat is flat to 6 cents lower. David M. Fiala DTN Contributing Analyst The U.S. stock market is mixed with the Dow down 30. The dollar index is 30 lower. Interest rate products are mixed. Energies are mixed with crude down $0.10. Livestock trade is higher. Precious metals are mixed with gold down $2.50. CORN Corn trade is 2 to 3 cents higher at midday with flat to weaker spread action as early selling quickly turned to buying overnight before fading from the highs during the day session. Ethanol margins will remain poor with soft demand, and with limited relief in the cash market short term with the weekly report expected to show flat to lower production and flat to higher stocks today. Basis has remained fairly sideways. The daily export wire saw 336,500 metric tons sold to unknown for old crop. On the March contract support was the gap area at $5.17 which we filled yesterday and bounced from with the 20-day at $4.93 below that, with the next level up the contract high at $5.41 1/2. SOYBEANS Soybeans are 5 to 7 cents higher at midday with trade struggling to hold the overnight highs as spread trade weakens despite fresh export sales of 136,000 metric tons to China, and 163,290 metric tons to Mexico. Meal is mixed and oil is 60 to 70 points higher. Basis will likely remain flat with crush likely to take precedence over shipping in coming weeks with crush margins narrowing overall and new crop seeing more interest in recent export bookings. Brazil should catch rains short term with very early harvest underway, with Argentina action mixed. The March chart has support at the 20-day moving average of $13.43 with resistance likely to start at the $13.82 area which we are testing overnight. WHEAT Wheat trade is 2 to 6 cents lower at midday with trade following the lead of the row crops in coming off the lows and then fading, and the higher protein wheats leading. The dollar remains above 90 on the index but is seeing broad selling pressure early on. The Plains are expected to see limited moisture with cold scares remaining limited for now. Kansas City is at 26-cent discount to Chicago with the pattern of narrower overnight trade continuing, with Minneapolis at -29 as well. Kansas City March chart support is the 20-day at $6.09, and resistance is the fresh high at $6.60. (c) Copyright 2021 DTN, LLC. All rights reserved.
DTN Midday Livestock Comments 01/21 12:10
DTN Midday Livestock Comments 01/21 12:10
Livestock Contracts Soak Up the Market's Support
Thursday has ended up being a far better day than anticipated as all of the
livestock contracts are trading higher into the afternoon.
ShayLe Stewart
DTN Livestock Analyst
General Comments
Support is pouring into the livestock contracts allowing the entire
marketplace to trade higher heading into Thursday's afternoon. Unfortunately,
with there already being a good test on this week's cash cattle market it's
going to be hard for feedlots to push the cash cattle market higher. March corn
is up 1 3/4 cents per bushel and March soybean meal is down $3.60. The Dow
Jones Industrial Average is down 39.11 points and NASDAQ is up 28.39 points.
LIVE CATTLE
Feedlots are wishing that with the stout advancement in the boxed beef
market Thursday morning and the reignited support that's allowing the live
cattle contracts to trade higher, that they would have waited until later in
the week to market their cattle. February live cattle are up $0.72 at $114.07,
April live cattle are up $0.92 at $119.80 and June live cattle are up $0.95 at
$117.10. There's been a little renewed interest in the cash cattle market, but
packers are hesitant to seem too aggressive while the market is strong.
Watching the April board continues to be a top priority and with Thursday's
advancement the contract has now moved to long-term highs and is on the edge of
trading at $120. Bids of $172 have surfaced in Nebraska while the rest of the
countryside sits idle. Asking prices of $112 still remain in the South and
cattle in the North left to sell are priced at $176 to $178.
Boxed beef prices are higher: choice up $2.48 ($221.39) and select up $3.01
($210.19) with a movement of 70 loads (39.88 loads of choice, 5.43 loads of
select, 6.81 loads of trim and 17.89 loads of ground beef).
FEEDER CATTLE
Even as the corn contracts have bounced around trading anywhere from $0.01
to $0.04 higher throughout the morning, the feeder cattle contracts seem to
shed no concern and trade fully higher once again. January feeders are up $0.25
at $135.55, March feeders are up $1.52 at $139.05 and April feeders are up
$1.25 at $141.87. Feeder cattle sales have been hit or miss this week with
excellent demand being strongly noted for light-weight calves that offer the
ability to either go into the feedlot later this spring or work as grass calves
-- not to mention, the spring contracts are far more favorable the further time
rolls into 2021.
LEAN HOGS
With pork cutouts printing a fancy $4.96 gain Thursday morning, and the
futures market fully supported the lean hog complex is having a terrific
Thursday. Now yes, the cash hog market is lower but following packer's purchase
of around 13,000 head Wednesday afternoons, the cash market is expected to
trade lower. February lean hogs are down $0.10 at $68.32, April lean hogs are
up $0.97 at $74.05 and June lean hogs are up $0.72 at $85.22.
The projected lean hog index for 1/20/2021 is down $0.27 at $65.40, and the
actual index for 1/19/2021 is down $0.25 at $65.67. Hog prices are lower on the
National Direct Morning Hog Report, down $1.95 with a weighted average of
$54.69, ranging from $46.00 to $56.50 on 5,313 head and a five-day rolling
average of $55.07. Pork cutouts total 156.48 loads with 120.10 loads of pork
cuts and 36.38 loads of trim. Pork cutout values: up $4.96, $83.98.
ShayLe Stewart can be reached shayle.stewart@dtn.com
(c) Copyright 2021 DTN, LLC. All rights reserved.
DTN Closing Grain Comments 01/21 14:01
DTN Closing Grain Comments 01/21 14:01 Row Crops Hold Small Gains; Wheat Slides Lower After three days of selling, March contracts of corn and soybeans finished the session with small gains Thursday, helped by news of more export sales. All three U.S. wheats ended a little lower despite a new forecast of continuing drought in the western U.S. Plains.
DTN Cattle Close/Trends 01/21 15:35
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 01/21/21
VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
KANSAS CONFIRMED CASH SALES - TODAY: 1,720 WEEK TO DATE: 18,048
STEERS LIVE FOB
130 110.00-110.00 110.00-110.00 110.00
STEERS LIVE DELIVERED
No reportable trade
HEIFERS LIVE FOB
1,082 110.00-110.00 110.00-110.00 110.00
HEIFERS LIVE DELIVERED
No reportable trade
NEBRASKA CONFIRMED CASH SALES - TODAY: 11,365 WEEK TO DATE: 21,897
STEERS DRESSED DELIVERED
7,166 171.00-173.00 172.00-173.00 172.85
STEERS DRESSED FOB
No reportable trade
HEIFERS DRESSED DELIVERED
905 173.00-173.00 173.00-173.00 173.00
HEIFERS DRESSED FOB
No reportable trade
TEXAS CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 3,080
STEERS LIVE FOB
No reportable trade
STEERS LIVE DELIVERED
No reportable trade
HEIFERS LIVE FOB
No reportable trade
HEIFERS LIVE DELIVERED
No reportable trade
COLORADO CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 1,294
STEERS LIVE FOB
No reportable trade
STEERS LIVE DELIVERED
No reportable trade
HEIFERS LIVE FOB
No reportable trade
HEIFERS LIVE DELIVERED
No reportable trade
IOWA CONFIRMED CASH SALES - TODAY: 3,143 WEEK TO DATE: 6,659
STEERS DRESSED DELIVERED
1,396 169.00-173.00 170.00-172.00 170.57
STEERS DRESSED FOB
No reportable trade
HEIFERS DRESSED DELIVERED
824 170.00-173.00 172.00-173.00 172.03
HEIFERS DRESSED FOB
No reportable trade
COMMENTS: A light to moderate trade was reported in the North today with
dressed deals ranging from $169 to $170, mostly $173 in Nebraska, generally
steady with last weeks weighted average. A few more deals were reported in
Kansas today at fully steady money with yesterday's business.
5-AREA LV STR AVG(FOB)PR&WT: $109.52(1471) HIDE&OFFAL: $9.35 +0.11
CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) #OF HD
LIVE BASED $162.47 $150.40 39,076
BOX BASED $209.20 $198.28 49,535
AVE INDEX $185.83 +1.06 $174.34 +1.42 88,611
BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#)
$221.20 +2.29 $210.28 +3.00
80.92 LDS CH CUTS / 16.71 LDS SEL CUTS / 7.00 LDS TRIM / 22.54 LDS GROUND
BOXED BEEF TREND: Not available due to changes on USDA reports
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 01/15 $210.71 +3.95
CUTTER 90% 350# UP C/O: $177.95 +0.13
NAT'L BONELESS BF TRIM: 58.57 lds / Weak to slightly lower on lt dem & offers
90% TRIM: 26 lds: Wtd Avg $218.30 / Generally steady
FI KILL(WTD) THU 120(469) WK AGO 120(469) YR AGO 122(489) MIX: WED SH93/CB27
WEEKLY CANADIAN CATTLE IMPORTS.
FEEDERS SLAUGHTER S&H
Week Ending: 01/09/21 998 8,671
Week Ending: 01/02/21 129 4,995
Change from prev week: +869 +3,676
2020 YTD Totals 118,181 491,738
DTN Chart Technical Points 01/21 16:30
DTN Chart Technical Points 01/21 16:30 DTN FUTURES 10 1/21/21 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 MAR 660.75 669.06 660.58 648.44 618.47 58.49 60.22 58.95 43 58 77 79 CBTWT MAY 662.25 670.06 661.75 648.82 619.91 59.58 61.22 59.64 43 59 78 81 KC WT MAR 635.75 639.94 625.92 611.10 580.86 69.23 67.43 62.99 57 68 82 84 KC WT MAY 639.00 643.06 629.53 614.63 585.39 69.62 67.74 63.08 56 68 82 84 MN WT MAR 635.25 639.88 629.25 611.92 581.76 73.09 72.49 66.33 61 73 87 89 MN WT MAY 644.25 648.50 637.72 620.36 590.21 74.28 73.48 67.10 61 73 87 90 CORN MAR 524.25 525.94 518.69 498.04 456.34 74.97 77.07 74.88 54 66 87 90 CORN MAY 526.25 528.31 521.03 499.43 458.49 74.34 76.77 74.98 53 67 87 90 CORN JUL 522.25 524.63 517.72 496.71 457.83 72.28 75.19 74.29 52 66 87 90 OATS MAR 360.50 363.25 361.89 356.24 333.19 57.71 62.27 64.78 59 72 84 82 OATS MAY 356.50 358.00 356.25 351.25 331.19 59.48 63.03 65.12 64 75 81 77 BEANS MAR1370.251385.561393.831352.811251.83 56.82 63.57 68.94 25 46 81 89 BEANS MAY1368.751383.501391.171350.501250.47 57.21 64.00 69.52 27 47 82 89 BEANS JUL1354.501369.131377.111339.141243.81 56.31 63.14 68.98 26 46 81 89 S MEAL MAR 438.20 448.58 452.01 439.02 410.66 48.99 55.23 61.14 12 38 73 85 S MEAL MAY 435.30 444.80 447.66 435.03 407.43 49.79 56.81 63.28 14 43 76 87 B OIL MAR 43.43 42.38 42.63 42.51 39.91 63.48 64.53 65.43 63 45 63 64 B OIL MAY 42.75 41.84 42.19 41.93 39.49 62.45 64.05 65.34 56 41 66 68 CATTLE FEB 114.10 113.39 113.14 113.91 113.32 55.47 53.24 51.94 78 60 35 29 CATTLE APR 119.95 119.09 118.49 118.65 117.52 61.68 58.93 56.20 84 73 71 59 FEEDER JAN 135.88 135.04 134.60 136.36 138.07 49.70 47.29 47.81 79 62 25 18 FEEDER MAR 139.15 137.33 136.08 137.69 138.80 59.02 54.45 52.03 82 68 35 21 HOGS FEB 68.10 67.73 67.75 68.30 67.00 51.58 51.74 51.78 52 41 34 39 HOGS APR 73.90 72.76 72.82 72.52 70.76 62.33 60.64 57.16 61 44 63 67 COTTON MAR 82.57 81.50 81.11 79.71 75.93 77.16 74.51 69.55 72 66 89 88 COTTON MAY 83.50 82.42 81.96 80.47 76.72 79.14 76.05 70.52 77 72 91 90 RICE MAR 13.25 13.19 13.01 12.79 12.67 74.86 69.11 61.27 74 76 86 82 RICE MAY 13.42 13.36 13.18 12.96 12.79 76.61 71.16 62.89 79 79 88 84
DTN Closing Livestock Comment 01/21 16:09
DTN Closing Livestock Comment 01/21 16:09 Livestock Contracts Bat for Higher Prices Heading into Friday, the livestock complex is hopeful to keep these strong gains. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Thursday ended up being a great day for the livestock market as support was ample and contracts were able to close fully higher. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.18 with a weighted average of $54.90 on 7,164 head. March corn is up 2 1/4 cents per bushel and March soybean meal is down $4.20. The Dow Jones Industrial Average is down 12.37 points and NASDAQ is up 73.67 points.
DTN Early Word Grains 01/22 05:59
DTN Early Word Grains 01/22 05:59 Grain Selling Continues to Close Week March corn is down 4 1/4 cents per bushel, March soybeans are down 21 1/4 cents, and March KC wheat is down 6 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is down 4 1/4 cents per bushel, March soybeans are down 21 1/4 cents, and March KC wheat is down 6 cents. CME Globex Recap: Weaker equity markets around the globe overnight as economic data pressured indices, especially in Europe. The eurozone composite survey for purchasing managers of manufacturing and services came in at 47.5, below forecasts and down from 49.1 in December with any reading below 50.0 denoting contraction. The data speaks to the lockdowns still being enacted across the continent. In the U.S., the House of Representatives is expected to pick up work on putting together legislation for President Biden's $1.9 trillion pandemic aid bill next week. Energy markets are sharply lower overnight with 2.0% losses commonplace. The U.S. Dollar Index is quietly firmer but mainly inside recent ranges. Grain markets are solidly lower overnight, looking to end the week on a softer note. South American weather and crop prospects turning higher have been at the heart of the selling this week. To change the tenor of our markets, a change in weather is likely needed. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 12.37 at 31,176.01 and the S&P 500 up 1.22 at 3,851.85 while the 10-Year Treasury yield ended at 1.109%. Early Friday, the March DJIA futures are down 216 points. Asian markets are lower with Japan's Nikkei 225 down 125.41 (-0.44%) and China's Shanghai Composite down 14.51 points (-0.4%). European markets are lower with London's FTSE 100 down 41.01 points (-0.56%), Germany's DAX down 103.61 points (-0.75%) and France's CAC 40 down 62.34 points (-1.12%). The March Euro is up 0.002 at 1.220 and the March U.S. dollar index is up 0.063 at 90.190. The March 30-Year T-Bond is up 11/32nds, while February gold is down $9.90 at $1,856.00 and March crude oil is down $1.14 at $51.99. Soybeans on China's Dalian Exchange were down 0.5% while soybean meal was down 0.99% and corn was down 1.02%.
DTN Early Word Livestock Comments 01/22 06:56
DTN Early Word Livestock Comments 01/22 06:56 Livestock Futures Focus on Upcoming Reports to Continue Market Rally The livestock market futures during the week has been nothing less than impressive given the momentum and ability to break through resistance levels over the last few days. Traders will focus on two significant reports Friday to help confirm the market support well into next week.
