US Direct Feeder Pigs 02/11
DTN Early Word Grains 02/15 05:59
DTN Early Word Grains 02/15 05:59 Mostly Higher Grains Following Valentine's Day Flush March corn is up 1 cent per bushel, March soybeans are up 3 cents, and March K.C. wheat is up 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 1 cent per bushel, March soybeans are up 3 cents, and March K.C. wheat is up 3/4 cents. CME Globex Recap: Equities are mixed around the globe as investors anxiously await news from the latest round of U.S.-China trade talks. Weak economic data out of China overnight has raised the stakes further. On the home front, markets were encouraged there won't be another government shutdown, but President Trump using an executive order and state of emergency to build his border wall will keep the gridlock alive and well the rest of 2019. Grains are bouncing back slightly today following Thursday's washout. When cancellations by China were found on the export sales report, one could physically feel the air being let out of the balloon. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 103.88 at 25,439.39 and the S&P 500 down 7.30 at 2,753.03 while the 10-Year Treasury yield ended at 2.657%. Early Friday, the March DJIA futures are down 36 points. Asian markets are lower with Japan's Nikkei 225 down 239.08 (-1.13%) and China's Shanghai Composite down 37.31 points (-1.37%). European markets are higher with London's FTSE 100 up 19.99 points (0.28%), Germany's DAX up 6.36 points (0.06%) and France's CAC 40 up 38.19 points (0.75%). The March Euro is down 0.002 at 1.130 and the March U.S. dollar index is up 0.080 at 96.885. The March 30-Year T-Bond is up 9/32nds, while April gold is up $6.20 at $1,320.10 and March crude oil is up $0.05 at $54.46. Soybeans on China's Dalian Exchange were down -0.95% while soybean meal was down -0.92%.
DTN Midday Grain Comments 02/15 11:33
DTN Midday Grain Comments 02/15 11:33 Grain Trading Mixed at Midday Soybeans lead at midday with trade fading from overnight strength. Wheat is scoring fresh lows at midday due to absence of positive news. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are weaker with the Dow 310 points higher. The interest rate products are mixed. The dollar index is 10 points higher. Energies are firmer with crude up $1.05. Livestock trade is mixed with hogs leading. Precious metals are firmer with gold up $3.80. CORN Corn trade is flat to a penny lower with trade looking to reestablish footing going into the three-day weekend for Presidents Day and spillover pressure from wheat. The second crop in Brazil is being planted in good condition for now with planting heading towards the halfway point with early rains looking to be good for germination. The energy complex is maintaining recent gains to support ethanol a little more in the near term with better seasonal action getting close, but ethanol futures are a penny lower this morning. Corn basis should firm again with more weather disruptions. The daily wire remained active on corn with 205,744 metric tons of corn sold to unknown. On the March chart trade is just below the resistance clustered at $3.77-$3.79 with support at the lower Bollinger Band at $3.73 3/8, and the then low at $3.71 3/4. SOYBEANS Soybean trade is 2 to 3 cents higher at midday moving back towards the middle of the weekly range. Meal is $1 to $2 higher and oil is 5 to 15 points lower. South America weather should maintain the recent pattern in the coming days with Brazil harvest moving along. Crush margins remain strong with meal holding $300 a ton or better still, with basis likely to remain steady to firmer on weather and the futures pull back. Trade talks will continue in the U.S. next week with some progress scored this week. On the March chart resistance is now the moving averages clustered at $9.13-9.15 which we just below, and then the $9.01 support level from the early session lows. WHEAT Wheat trade is 4 to 9 cents lower with spread trade firming for the Chicago intramonth spreads as well, with KC the weak side of the contract spreads today. The U.S. has seen better export business lately, but world prices have followed the U.S. selloff the last couple of days. The dollar rally has resumed with new highs scored overnight. Cold weather is expected to keep some stress on the Plains in the near term with winter wanting to hang around. On the March Kansas City chart, support is low at $4.72 with resistance the 10-day at $4.95. 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 2019 DTN/The Progressive Farmer. All rights reserved.
DTN Midday Livestock Comments 02/15 12:00
DTN Midday Livestock Comments 02/15 12:00 Sharp Losses Sweep Through Feeder Cattle Limited buying is slowly stepping into live cattle and feeder cattle trade midday Thursday. This is creating additional market support through the entire complex. By Rick Kment DTN Analyst General Comments Strong market pressure has quickly flooded into feeder cattle markets, which is affecting the movement and direction of live cattle trade. Hog futures are firming based on short covering at the end of the week. Corn markets are lower in light trade. March corn futures are 1 3/4 cents lower. Stock markets are higher in light trade. Dow Jones is 347 points higher with Nasdaq up 26 points. LIVE CATTLE: Firm pressure developed Friday morning through the complex with traders looking for increased underlying pressure in feeder cattle trade. The strength in beef values at the end of the week is being overlooked by traders attention to triple-digit losses in these feeder cattle futures. Limited direction is expected through the rest of the complex with traders looking for additional outside market shifts. Cash cattle trade still remains quiet although bids are becoming more evident through the morning. Bids are holding at $122 live in the North and South, while dressed bids are developing at $198 to $199 per cwt. This is still a long ways from asking prices, and unlikely to gain interested sellers at this point. Asking prices remain at $126 to $127 live and $202 to $204 dressed. It may be late afternoon before deals are made. Cattle are priced at $126 to $127 per cwt, while dressed prices are listed at $203 to $205 per cwt. Boxed Beef cut-outs at midday are higher, $1.09 higher (select) and up $0.87 per cwt (choice) with light movement of 58 total loads reported (35 loads of choice cuts, 5 loads of select cuts, 4 loads of trimmings, 14 loads of ground beef). FEEDER CATTLE: Triple-digit losses have quickly expanded Friday morning as traders focus on uncertainty in the grain markets and the growing expectations that a deal will develop with China. Any grain market deal with China will be bearish for feeder cattle on a short-term basis at least, as this will likely increase production costs in the entire cattle complex. Even though nearby futures have backed away from session lows, the potential to break below February lows is adding weakness to the complex. LEAN HOGS: End-of-week short covering has been the main agenda of traders which continue to focus on bearish fundamentals, but are covering positions at the end of the week. With trade closed Monday for Presidents day, the focus on maintaining recent support levels is sparking renewed buyer interest in nearby trade. Nearby futures are holding 30 to 60 cent gains, while narrowly mixed moves in deferred trade is keeping additional volume on the sidelines. Cash prices are unreported on the National Direct morning cash hog report. Cash prices unreported on the Iowa/Minnesota Direct morning cash hog report. Pork carcass values rallied higher on the morning report with prices adding $2.08 per cwt at $64.84 per cwt with 177 loads traded. Lean hog index for 2/13 is $55.24, down $0.31, with a projected two-day index is delayed due to packer submission problems. Rick Kment can be reached at rick.kment@dtn.com (CZ) Copyright 2019 DTN/The Progressive Farmer. All rights reserved.
DTN Early Word Opening Livestock 02/15 06:21
DTN Early Word Opening Livestock 02/15 06:21 Hog Futures Test Support Limited pressure may slowly develop through lean hog trade Friday morning as traders focus on fundamental market weakness. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $143.72 -0.54* Hogs: Steady to 50 cents Lower Futures: Lower Lean Equiv $67.26 -1.12** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash cattle trade has once again made it to the end of the week with limited to no market activity developing. Packers will once again have their hands full trying to buy cattle as they are expected to remain extremely short bought once again. Bids are expected to start similar to earlier offers, at $122 live and $198 to $200. But without a major shakeup in futures trade or outside markets, feedlot managers are unlikely to show any interest. Asking prices are holding at $126 to $127 live and $203 and higher dressed. At this point, it could be late in the day before most trades are in the book. Futures trade is expected mixed with the late day support seen Thursday bringing some underlying strength to the market. End-of-week positioning is expected to be the main order of business most of the day Friday as traders may continue to wander in the current market range.
DTN Closing Grain Comments 02/15 13:40
DTN Closing Grain Comments 02/15 13:40 Wheat Continues Rapid Slide; Corn, Soybeans Stabilize A combination of fund and technical selling following Thursday's sharply lower close, a firm U.S. dollar, and weakening European and Russian wheat values have combined to send wheat lower again Friday, with Kansas City reaching new contract lows. Corn and soybeans in dull trade finished little changed and just above the uptrend line. Positive news from China trade talks was tempered as that discussion continues next week in the U.S.
DTN Cattle Close/Trends 02/15 15:30
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 02/15/19
***DUE TO THE HOLIDAY, THIS PAGE WILL NOT UPDATE ON MONDAY, FEBRUARY 18***
VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
KANSAS CONFIRMED CASH SALES - TODAY: 0 WEEK T0 DATE: 349
STEERS No reportable trade
HEIFERS No reportable trade
NEBRASKA CONFIRMED CASH SALES - TODAY: 80 WEEK TO DATE: 912
STEERS 80 199.00-199.00 199.00-199.00 199.00
HEIFERS No reportable trade
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: 969 WEEK TO DATE: 9,678
STEERS 317 199.00-199.00 199.00-199.00 199.00
HEIFERS 18 199.00-199.00 199.00-199.00 199.00
COMMENTS: At the time of this close only a few scattered deals had been
Reported in parts of the North, but certainly not enough to establish any
Kind of weekly trend. We will continue to watch for sales throughout the
Afternoon and early evening hours and report them on the Daily Sales Reported
to DTN Page.
5-AREA LV STR AVE PR&WT: $125.18(1551) HIDE&OFFAL: $9.08 +0.06
CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) #OF HD
LIVE BASED 189.12 181.13 75,566
BOX BASED 204.85 198.99 39,570
AVE INDEX 196.98 +0.37 190.06 +0.27 115,136
BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#)
216.85 +0.78 210.99 +0.58
57.98 LDS CH CUTS / 11.00 LDS SEL CUTS / 12.83 LDS TRIM / 20.53 LDS GROUND
BOXED BEEF TREND: Frm/hr on mod-frly gd dem & mod offers
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 02/08 $216.53 +0.50
CUTTER 90% 350# UP C/O: 164.68 +0.76
NAT'L BONELESS BF TRIM: 50.79 lds / Slghtly hr on mod-gd dem & mod offers
90% TRIM: 19 lds: Wtd Avg $211.91 / Unevenly steady
FI KILL(WTD) FRI 111(570) WK AGO 115(585) YR AGO 114(579) MIX: THU SH93/CB24
SAT 26(596) WK AGO 35(620) YR AGO 23(602)
WEEKLY CANADIAN CATTLE IMPORTS.
FEEDERS SLAUGHTER S&H
Week Ending: 02/02/19 3,147 7,236
Week Ending: 01/26/18 3,023 8,004
Change from prev week: +124 -768
DTN Closing Livestock Comment 02/15 15:42
DTN Closing Livestock Comment 02/15 15:42 Lean Hog Futures Rally Friday Lean hog futures settled mostly higher Friday as traders adjusted positions before exiting the market for the long weekend. Meanwhile, feeder cattle futures saw sharp losses. By Rick Kment DTN Analyst GENERAL COMMENTS: Wide-ranging price swings were seen throughout livestock trade Friday before the long weekend. Markets will remain closed Monday due to Presidents day, and will return to normal schedules Tuesday morning. Hog futures rallied Friday, with April leading the charge as traders covered short positions and distanced prices from long-term support levels. Cattle trade got caught up in the drama of lower feeder cattle futures. Traders have various concerns about trade and outside markets. From Friday to Friday, livestock futures scored the following changes: Feb LC off $0.75; Apr LC off $0.75; Mar FC off $1.50; Apr FC off $0.68; Apr LH up $4.48 and May LH up $2.05. Cash cattle trade remained generally sluggish at midafternoon Friday. Another round of late-afternoon or evening trade was expected. Bids were hovering in the same pattern as seen the rest of the week, at $122 live and $198 to $200 dressed. Asking prices were not budging, and were holding at $126 to $127 live and $202 to $204 dressed. The National Daily Direct afternoon hog report was $0.21 lower ($44.50-$48.78, weighted average $48.51) on 4,379 head sold. Corn futures were mixed in light activity with the March unchanged from Thursday. The Dow Jones Index was 445 points higher with the Nasdaq up 45 points.
DTN Chart Technical Points 02/15 16:30
DTN Chart Technical Points 02/15 16:30 DTN FUTURES 10 2/15/19 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 504.25 513.38 517.28 518.79 518.45 32.51 38.15 43.67 29 38 32 43 CBTWT MAY 507.00 516.31 520.03 523.03 523.89 31.00 36.45 42.34 28 38 26 34 KC WT MAR 476.50 486.00 494.31 500.68 502.84 22.95 30.50 38.86 17 19 12 20 KC WT MAY 484.50 492.56 500.67 508.56 512.71 23.28 29.94 37.99 20 21 12 15 MN WT MAR 573.00 576.19 573.31 573.35 569.73 50.15 50.93 49.16 56 69 65 59 MN WT MAY 567.00 569.88 571.17 573.99 573.14 38.09 42.21 44.54 28 33 22 25 CORN MAR 374.75 376.63 376.75 377.72 378.58 43.39 45.27 47.36 47 50 38 41 CORN MAY 382.75 384.69 384.78 386.01 386.68 42.85 44.92 47.30 51 54 38 39 CORN JUL 390.50 392.38 392.50 393.78 394.13 42.90 45.04 47.58 50 52 37 39 OATS MAR 275.75 281.63 284.22 285.79 285.73 31.45 37.00 44.25 9 21 18 26 OATS MAY 280.75 285.50 286.86 287.10 285.91 36.71 41.37 46.64 20 30 44 52 BEANS MAR 907.50 911.25 913.31 916.15 911.49 43.97 46.51 49.55 36 46 43 53 BEANS MAY 921.50 925.44 927.44 930.14 924.94 43.98 46.62 49.69 36 46 45 54 BEANS JUL 935.00 938.75 940.89 943.21 937.51 44.26 46.92 49.96 36 46 46 56 S MEAL MAR 306.50 307.83 307.37 309.61 312.17 41.63 42.55 45.35 48 58 22 15 S MEAL MAY 310.50 311.88 311.39 313.59 315.88 41.72 42.79 45.89 50 59 23 15 B OIL MAR 29.95 30.04 30.37 30.18 29.13 48.19 53.14 54.89 11 14 66 79 B OIL MAY 30.28 30.38 30.70 30.50 29.42 48.50 53.51 55.18 11 15 67 80 CATTLE FEB 126.63 126.38 126.68 126.23 124.89 53.99 55.24 56.53 26 33 60 66 CATTLE APR 127.18 127.35 127.47 127.21 126.27 49.88 52.30 55.03 28 42 51 53 FEEDER MAR 142.60 143.65 143.74 143.75 144.39 40.37 43.28 45.66 38 55 60 62 FEEDER APR 145.23 146.11 145.80 145.46 145.50 46.57 48.47 48.72 60 75 84 79 HOGS APR 59.53 59.58 59.77 61.05 64.85 40.29 38.48 39.89 42 45 16 12 HOGS MAY 68.45 68.43 67.99 68.48 71.48 47.59 44.24 43.18 62 64 31 21 COTTON MAR 70.22 70.00 71.44 72.61 73.48 30.28 34.40 38.84 13 8 7 13 COTTON MAY 71.86 71.52 72.78 73.96 74.82 33.36 36.06 39.43 19 11 9 12 RICE MAR 10.00 10.17 10.35 10.51 10.55 17.69 25.90 36.34 5 3 2 11 RICE MAY 10.09 10.32 10.53 10.71 10.73 14.09 22.85 34.81 4 3 1 14
