DTN Closing Grain Comments 04/16 13:44
DTN Closing Grain Comments 04/16 13:44 US Soybean Prices Fall, Face Southern Harvest Pressure May soybeans fell 13 1/4 cents to a new one-month low, dragged down by a 0.56-cent loss in May soybean oil, while soybean harvests continue to make progress in Brazil and Argentina. May corn was down a half-cent and U.S. wheats were quietly mixed. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: May corn closed down 1/2 cent and December corn was down 2 cents. May soybeans closed down 13 1/4 cents and November soybeans were down 8 3/4 cents. July KC wheat closed up 2 1/4 cents, July Chicago wheat was down 2 3/4 cents and July Minneapolis wheat was up 1 cent.
DTN Closing Livestock Comment 04/16 15:37
DTN Closing Livestock Comment 04/16 15:37 Cattle Continue to Inch Higher It was another strong day for the livestock complex as all three markets closed higher thanks to ample trader interest. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a good day for the livestock complex as all three markets closed higher. Heading into Wednesday we'll be looking to see how pork cutout values fair and if the cattle complex is again able to move future away from the market's support plane at $172.00. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $3.33 with a weighted average price of $89.04 on 3,192 head. May corn is down 1/2 cent per bushel and May soybean meal is down $3.20. The Dow Jones Industrial Average is up 63.86 points.
DTN Chart Technical Points 04/16 16:30
DTN Chart Technical Points 04/16 16:30 DTN FUTURES 10 4/16/24 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 MAY 549.75 552.31 557.19 554.49 558.04 44.71 46.03 45.48 30 27 53 64 CBTWT JUL 564.75 567.31 572.06 569.74 568.26 45.11 46.83 46.22 30 27 54 65 KC WT MAY 587.50 586.13 584.58 582.39 580.13 53.41 51.95 48.85 58 61 66 58 KC WT JUL 583.00 582.31 580.92 577.90 572.99 53.75 52.44 48.83 60 60 70 66 MN WT MAY 638.25 638.75 644.72 645.81 653.46 41.71 42.43 42.12 23 24 36 42 MN WT JUL 645.00 646.06 652.36 653.10 658.97 40.71 41.94 41.69 17 21 34 43 CORN MAY 431.00 431.69 433.03 433.89 432.92 46.32 46.73 45.06 53 48 32 35 CORN JUL 442.75 443.81 445.03 446.47 444.92 45.21 46.09 44.96 52 46 26 29 CORN SEP 451.75 453.19 454.69 456.42 453.77 43.99 45.55 45.21 50 42 28 32 OATS MAY 346.00 350.75 340.86 347.94 358.22 47.59 45.92 44.89 70 78 47 26 OATS JUL 336.75 339.56 334.06 342.13 352.72 43.41 42.10 42.40 64 67 37 22 BEANS MAY1145.001159.131169.141181.171175.24 31.20 36.12 40.38 28 29 11 16 BEANS JUL1160.001172.811182.251194.441187.14 31.49 36.49 40.73 30 31 11 16 BEANS AUG1160.751172.061181.141192.931183.78 31.59 36.87 41.27 31 32 12 17 S MEAL MAY 335.30 338.45 335.88 336.46 335.34 48.55 48.42 46.28 61 67 52 47 S MEAL JUL 336.80 339.58 338.19 339.46 338.47 46.19 46.56 45.17 55 60 44 42 B OIL MAY 44.91 45.57 46.93 47.64 46.97 26.58 34.46 41.93 7 8 7 27 B OIL JUL 45.48 46.13 47.46 48.18 47.44 26.58 34.58 42.21 8 8 7 28 CATTLE APR 181.50 180.24 179.98 182.02 185.17 49.12 46.84 47.83 76 62 23 17 CATTLE JUN 175.73 173.73 173.76 176.53 180.66 48.81 45.88 46.30 63 48 18 14 FEEDER APR 240.35 239.17 239.48 243.13 250.17 42.91 41.65 44.84 58 46 14 13 FEEDER MAY 240.98 237.83 238.50 243.63 252.06 46.04 42.99 44.25 63 43 14 10 HOGS MAY 94.73 95.06 96.23 94.30 92.05 50.31 53.91 57.00 14 20 56 74 HOGS JUN 102.83 103.29 105.34 103.62 101.41 44.58 49.41 54.48 12 12 46 68 COTTON MAY 81.29 82.55 84.62 88.08 92.16 18.75 26.17 37.73 20 13 6 3 COTTON JUL 83.09 84.52 86.42 89.27 92.22 21.63 28.54 39.24 20 13 6 3 RICE MAY 18.37 17.70 17.00 16.87 17.71 73.19 65.36 56.65 86 80 71 44 RICE JUL 18.22 17.66 17.04 17.02 17.84 68.59 61.99 54.83 85 77 64 36
DTN Early Word Grains 04/17 05:48
DTN Early Word Grains 04/17 05:48 Grain Markets Slightly Higher as Corn, Wheat Remain Rangebound May corn is up 1 1/4 cents per bushel, May soybeans are up 1 1/4 cents, July KC wheat is up 1/4 cent, May Chicago wheat is up 4 1/2 cents and May Minneapolis wheat is up 3 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 1 1/4 cents per bushel, May soybeans are up 1 1/4 cents, July KC wheat is up 1/4 cent, May Chicago wheat is up 4 1/2 cents and May Minneapolis wheat is up 3 1/4 cents. CME GLOBEX RECAP: World equity markets are mostly higher Wednesday morning despite hawkish comments Tuesday from Fed Chairman Powell, and higher interest rate yields. On Tuesday, the 10-year note closed at 4.66%, the highest level in nearly 6 months. The Dow Jones Industrial Average broke its losing streak on Tuesday, but the broader S&P 500 closed lower. Tuesday's new data on Housing Starts and Industrial Production both came in a little lower than trade expectations, which was welcome given the recent inflation data that has been trending higher. The only impactful report Wednesday morning will be the release of the Fed Beige Book. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 63.86 at 37,798.97 and the S&P 500 down 10.41 at 5,051.41, The 10-Year Treasury yield ended at 4.66%. Early Wednesday, the June Dow Jones Futures are up 177 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.58%, spot futures of Germany's DAX is trading up 0.82% and the spot futures of France's CAC 40 Index up 1.27%. Asian markets are mixed with Japan's Nikkei 225 Index down 1.32% and China's Shanghai Composite Index up 2.14%.
DTN Early Word Livestock Comments 04/17 06:23
DTN Early Word Livestock Comments 04/17 06:23 Another Day of Gains in Cattle Futures is Uncertain Cattle futures continued higher Tuesday on further short-covering and renewed buying interest. Hog futures could not hold the strong gains seen during the day, posting only slight gains into the close. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Mixed Live Equiv: $220.86 -$1.16* Hogs: Higher Futures: Mixed Lean Equiv: $105.52 -$4.05** *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: There was no movement of cash cattle Tuesday, which was not responsible for moving the market higher. Boxed beef showed nothing to get excited about with prices mixed. Choice cuts fell $2.86 while select cuts increased $1.30. It seemed short-covering and increased buyer interest supported futures for a second consecutive day. Futures may begin to chop sideways as traders begin to look ahead to the upcoming Cattle on Feed report Friday. The trade estimates for placements have a much narrower range of expectations than the past few reports with a range of 89.3% to 94.7% of year ago. With packers having purchased some cattle for deferred delivery last week, it is anticipated cash may again be lower this week.
National Lean Hog Values 09/01
DTN Midday Grain Comments 04/17 10:52
DTN Midday Grain Comments 04/17 10:52 Corn and Wheat Lower, Beans Mixed at Midday Wednesday Corn trade is narrowly mixed. Beans are 6-8 cents higher and wheat trade is flat to 6 cents lower. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: The U.S. stock market is weaker at midday with the S&P 20 points lower. The dollar index is off 3 points. The interest rate products are firmer. Energies are weaker with crude of .80 and natural gas off 7 cents. Livestock trade is weaker. Precious metals are mixed with gold off $4. CORN: Corn is narrowly mixed with quiet range-bound action continuing with little fresh news to drive trade so far today. The weekly ethanol report showed production was off more than expected, dropping by 73,000 barrels per day, with stocks off by 128,000 barrels with overall driving demand remaining soft. Basis should remain sideways until the end of the month. Near-term weather looks to slow planting progress a bit with cooler temps short term after rains yesterday and more chances for moisture as it warms up the second week. The daily wire remained quiet with export sales expected to be in the 400,000 to 600,000 metric ton range tomorrow. The second crop in Brazil should continue to develop without major immediate concerns with some excess moisture disease concerns in Argentina. On the May chart, the 20-day at $4.34 is nearby resistance with our support of the lower Bollinger Band at $4.25. SOYBEANS: Soybean trade is 6-8 cents higher with light short covering and broader product strength helping to push trade higher at midday. Meal is $3.50 to $4.50 higher and oil is 25 to 35 points higher. Brazil's harvest is winding down, with Argentina still battling a bit of short-term excess moisture as its export window continues to expand. The daily wire remained quiet today with weekly sales expected to be in the 250,000-400,000 metric ton range tomorrow. Planting progress should slow a bit with the cool down short term. May soybean futures have support at the $11.42 lower Bollinger Band. Chart resistance is at the 20-day moving average at $11.80. WHEAT: Wheat trade is flat to 6 cents lower at midday with trade holding support but struggling to find fuel to stretch to the upper end of the range with KC action seeing the most pressure so far today. The Plains will see seasonal temperatures start to give way to a cooler stretch at the end of the week with overall moisture prospects better the second week for Kansas. The dollar continues to limit the upside with action holding at the upper end of the range with MATIF wheat edging higher so far today. Weekly export sales are expected to be in the 250,000-450,000 metric ton range. On the KC May chart, support is the 20-day at $5.82 that we are testing at midday with the upper Bollinger band at $5.95 as resistance. David Fiala can be reached at [email protected]. Follow him on X, formerly Twitter, @davidfiala. (c) Copyright 2024 DTN, LLC. All rights reserved.
DTN Cattle Prices/Trends 04/17 11:20
DTN CATTLE PRICES/TRENDS 04/17 11:20 HEAD SOLD LIVE STEERS DRESSED LIVE HEIFERS DRESSED KANSAS . . . . . NEBRASKA . . . . . TEXAS . . . . . COLORADO . . . . . IOWA . . . . . *=PRIVATE SOURCES DTN COMMENTS: All remains quiet in cash cattle country. Bids are very elusive, asking prices are around $184 to $185 in the South, and are still not established in the North. Significant trade volume will likely hold off for another day or two. Beef cutouts are lower at midday (choice 297.79 -0.23, select 291.90 - 0.74) with light to moderate box movement (38.04 lds of choice cuts, 17.21 lds of select cuts, 0.00 lds of trim, and 18.14 lds of ground). Cattle futures at midday are mixed mostly lower on both live and feeder contracts. DAILY DIRECT SLAUGHTER CATTLE-NEGOTIATED PURCHASES-SUMMARY **Summary includes trade from 1:30 PM the previous day through 9:30 AM today.** KANSAS CONFIRMED CASH SALES: 0 WEEK TO DATE: 0 STEERS - LIVE - FOB STEERS - DRESSED - DELIVERED No reportable trade No reportable trade STEERS - LIVE - DELIVERED STEERS - DRESSED - FOB No reportable trade No reportable trade HEIFERS - LIVE - FOB HEIFERS - DRESSED - DELIVERED No reportable trade No reportable trade HEIFERS - LIVE - DELIVERED HEIFERS - DRESSED - FOB No reportable trade No reportable trade NEBRASKA CONFIRMED CASH SALES: 0 WEEK TO DATE: 246 STEERS - LIVE - FOB STEERS - DRESSED - DELIVERED No reportable trade No reportable trade STEERS - LIVE - DELIVERED STEERS - DRESSED - FOB No reportable trade No reportable trade HEIFERS - LIVE - FOB HEIFERS - DRESSED - DELIVERED No reportable trade No reportable trade HEIFERS - LIVE - DELIVERED HEIFERS - DRESSED - FOB No reportable trade No reportable trade TEXAS CONFIRMED CASH SALES: 0 WEEK TO DATE: 0 STEERS - LIVE - FOB STEERS - DRESSED - DELIVERED No reportable trade No reportable trade STEERS - LIVE - DELIVERED STEERS - DRESSED - FOB No reportable trade No reportable trade HEIFERS - LIVE - FOB HEIFERS - DRESSED - DELIVERED No reportable trade No reportable trade HEIFERS - LIVE - DELIVERED HEIFERS - DRESSED - FOB No reportable trade No reportable trade COLORADO CONFIRMED CASH SALES: NA Conf WEEK TO DATE: NA Conf STEERS - LIVE - FOB STEERS - DRESSED - DELIVERED NA Due to Confidentiality NA Due to Confidentiality STEERS - LIVE - DELIVERED STEERS - DRESSED - FOB NA Due to Confidentiality NA Due to Confidentiality HEIFERS - LIVE - FOB HEIFERS - DRESSED - DELIVERED NA Due to Confidentiality NA Due to Confidentiality HEIFERS - LIVE - DELIVERED HEIFERS - DRESSED - FOB NA Due to Confidentiality NA Due to Confidentiality IOWA CONFIRMED CASH SALES: 12 WEEK TO DATE: 12 STEERS - LIVE - FOB STEERS - DRESSED - DELIVERED No reportable trade No reportable trade STEERS - LIVE - DELIVERED STEERS - DRESSED - FOB No reportable trade No reportable trade HEIFERS - LIVE - FOB HEIFERS - DRESSED - DELIVERED No reportable trade No reportable trade HEIFERS - LIVE - DELIVERED HEIFERS - DRESSED - FOB No reportable trade No reportable trade NOTE: 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. All live sales are FOB and set for 1-9-day delivery. A weekly summary from 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.
DTN Midday Livestock Comments 04/17 11:36
DTN Midday Livestock Comments 04/17 11:36 Traders Pull Back the Reins on the Livestock Complex With the entire livestock trading lower, it's unlikely that feedlots will be anxious to trade cattle today if any bids develop as they'll want to wait and see if Thursday's market lends more technical support. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex is dismally trading through Wednesday's market as not much has developed in support of the marketplace. Still no cash cattle trade has developed and at this point, it's looking like trade will be delayed until sometime Thursday or Friday. May corn is down 1/2 cent per bushel and May soybean meal is up $3.30. The Dow Jones Industrial Average is down 110.74 points. LIVE CATTLE: The live cattle complex is trading lower as traders are looking for continued support to justify advancing the contracts any higher. But with no cash cattle trade having developed, and boxed beef prices still trading sluggishly, the market is stalled out for the time being. Not to mention, traders could be feeling some pressure from the 100-day moving average which is sitting just above where the market is currently trading ($177.67). June live cattle are down $0.92 at $174.80, August live cattle are down $0.40 at $172.52 and October live cattle are down $0.35 at $175.45. No cash cattle trade has developed at this point, and it's looking like the week's trade will be delayed until Thursday or Friday. Asking prices are noted in the South at $184 to $185 but have not yet been established in the North. Boxed beef prices are lower: choice down $0.23 ($297.79) and select down $0.74 ($291.90) with a movement of 73 loads (38.04 loads of choice, 17.21 loads of select, zero loads of trim and 18.14 loads of ground beef). FEEDER CATTLE: With the live cattle complex trading lower, it comes as no surprise that the feeder cattle contracts are trading lower too. May feeders are down $1.07 at $239.90, August feeders are down $0.75 at $251.60 and September feeders are down $0.85 at $252.77. With parts of the west getting a spring storm, cow-calf producers are encouraged to see the shot of moisture hitting their pastures ahead of their prime grass-growing season. LEAN HOGS: The lean hog complex is trading mixed with most of the market's nearby contracts trading lower while some of the deferred months are trading mildly higher. At this point, traders need to see followed-through consumer interest to again give the futures board a boost of encouragement and reason why prices should continue with their upward trend. June lean hogs are down $0.22 at $102.60, July lean hogs are up $0.02 at $104.05 and August lean hogs are up $0.30 at $101.90. The market's support may not come until Thursday in the form of export sales. The projected lean hog index for 4/16/2024 is up $0.38 at $91.36, and the actual index for 4/15/2024 is up $0.25 at $90.98. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.31 with a weighted average price of $88.45, ranging from $84.00 to $92.00 on 2,394 head and a five-day rolling average of $87.48. Pork cutouts totaled 135.41 loads with 123.05 loads of pork cuts and 12.35 loads of trim. Pork cutout values: up $0.16, $99.71. ShayLe Stewart can be reached at [email protected] (c) Copyright 2024 DTN, LLC. All rights reserved.