Serving Our Community for Over 110 Years

9593 SBTULN rotators design3

DTN Feeder Pig Index

DTN Early Word Grains 08/18 05:54

DTN Early Word Grains 08/18 05:54 Another Green Market Morning

December corn was unchanged, November soybeans were 1 cent higher, and December Chicago (SRW) wheat was 1 cent higher.

By Darin Newsom DTN Senior Analyst

6:00 a.m. CME Globex: December corn was unchanged, November soybeans were 1 cent higher, and December Chicago (SRW) wheat was 1 cent higher.

CME Globex Recap: Grain and oilseed markets were green early Friday morning, with overnight trade quiet once again. Outside markets were mostly higher with only natural gas showing a loss, support coming from a lower U.S. dollar. Also, DJIA futures were showing a small loss following Thursday's 200-plus point meltdown.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 274.14 points (1.2%) lower at 21,750.73, the NASDAQ Composite lost 123.20 points (1.9%) to 6,222.91, and the S&P 500 fell 38.10 points (1.5%) to 2,430.01 Thursday. DJIA futures were 1 point lower early Friday morning. Asian markets closed mostly lower with Japan's Nikkei down 232.22 points (1.2%), Hong Kong's Hang Seng falling 296.65 points (1.1%) and China's Shanghai Composite adding 0.29 point. European markets were trading lower with London's FTSE 100 down 64.88 points (0.9%), Germany's DAX losing 71.98 points (0.6%), and France's CAC 40 off 51.95 points (1.0%). The euro was 0.0017 higher at 1.1742 while the U.S. dollar index fell 0.13 to 93.55. September 30-year T-Bonds were 8/32 higher at 155'30 while December gold added $8.90 to $1,301.40. Crude oil was $0.14 higher at $47.23 while Brent crude gained $0.04 to $51.07. China's Dalian soybean futures were lower and Malaysian palm oil futures were higher again overnight.

DTN Early Word Opening Livestock 08/18 05:58

DTN Early Word Opening Livestock 08/18 05:58 Meat Futures are Geared Friday for Further Losses

Live and feeder futures seem staged to open at least moderately lower, pressured by follow-through selling and sagging cash business. Lean hog contracts are also set to open on the defensive thanks to struggling fundamentals.

By John Harrington DTN Livestock Analyst



Cattle: Steady w/ Wed Futures: 50-100 LR Live Equiv $133.86 - .92* Hogs: $1 LR Futures: 50-100 LR Lean Equiv $ 97.50 + .42**

* based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

Moderate trade volume developed in Kansas and Texas on Thursday with most steers and heifers marked at $110, $5 lower than last week. At the same time, scattered dressed sales in the North were reported at $173 to $175, $8 to $10 lower than last week. While we could see isolated pockets of clean-up trade Friday, chances are the lion's share of cash business is probably done for the week. Live and feeder futures should open at least moderately lower, checked by residual selling interest and further late-week long liquidation.

DTN Midday Grain Comments 08/18 11:50

DTN Midday Grain Comments 08/18 11:50

Grains Mixed at Midday

Trade is mixed at midday in another session of very slow trade.

By David Fiala DTN Contributing Analyst

General Comments

The U.S. stock market indices are mixed with the Dow futures down 25 points. The interest rate products are mostly lower. The dollar index is 6 lower. Energies are mostly mixed with crude unchanged. Livestock trade is lower. Precious metals are higher with gold up $4.50.

CORN

Corn trade is narrowly mixed in quiet midday trade with the market still looking for footing going into the weekend. Long liquidation could reemerge today, but there could be some short covering going into the weekend, with the big crop tour coming up next week. Ethanol margins remain solid with the corn and energy complex moving in tandem, although ethanol futures are softer this morning. Trade will be watching for gulf export business as South American harvest wrapping up on double crop corn has basis starting to firm on export offers. On the December chart support is at $3.63 1/4 which is the new low for the move which we tested overnight and the lower Bollinger Band. Resistance is at the 10-day moving average at $3.74.

SOYBEANS

Soybean trade is narrowly mixed with wetter weather forecasted for next week when the crop tour will be looking for evidence of the USDA projected yields. Meal is flat to $1 lower, and oil is 40 to 50 points higher. Trade has found more support the second half of the week with disappointing rains in Iowa with trade starting to ease oversold conditions with fresh export demand remaining strong with China buying optional origin yesterday. On the November chart support is at the fresh low for the move at $9.21, then the 1-year low printed in June at $9.07. The 10-day moving average is chart resistance at $9.45.

WHEAT

Wheat trade is mixed at midday with wheat continuing the pattern of firmer overnight trade, before turning soft during the day session with Minneapolis wheat clinging to some light gains. The dollar rally has faded further which should help to keep the U.S. more competitive with Russian logistical bottlenecks coming forward with their big crop. Spring wheat harvest should move past the halfway point with harvest pressure starting to ease. Trade is heavily oversold, which should translate into bigger short covering at some point ahead of winter wheat planting. On the December Kansas City contract support is the $4.38 fresh low with resistance at the 10-day at $4.66.

David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered Advisor. He can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala

(BAS)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.

DTN Midday Livestock Comments 08/18 11:54

DTN Midday Livestock Comments 08/18 11:54

Cattle Futures Draw Buyer Support Midday Friday

Firm gains have developed in feeder cattle trade midday Friday. This has helped to draw additional support back into the live cattle complex focused on end-of-week short covering. Hog futures remain under firm pressure, based on light volume.

By Rick Kment DTN Analyst

GENERAL COMMENTS:

Cattle futures have quickly backed away from early market pressure with markets mixed to moderately higher at midday. The buyer support is based more on short covering activity at the end of the week rather than any longer term change of direction. Hog futures remain stuck in the lower trend due to extremely light volume. Corn prices are higher in light trade. September corn futures are 2 cents higher. Stock markets are higher in light trade. The Dow Jones is 23 points lower while Nasdaq is up 30 points.

LIVE CATTLE:

Mixed trade is seen in live cattle futures with prices stuck in a narrow trading range. Buyers have stepped back into the complex based on short covering activity in front of the weekend, and not based on a change in market direction. This could help to bring some needed market stability back to the complex, but for now, it appears that most traders are focusing on weaker fundamentals still driving the future movement of the complex. Cash cattle market activity remains quiet with a few live bids developing in Nebraska at $109 per cwt. The light to moderate trade seen Thursday is expected to be enough to cover packer's needs at this point. Sales for the week have settled at $110 in the South and generally $175 in the North. Beef cut-outs at midday are lower, $1.70 lower (select) and down $0.57 per cwt (choice) with active movement of 80 total loads reported (56 loads of choice cuts, 8 loads of select cuts, no loads of trimmings, 16 loads of ground beef).

FEEDER CATTLE:

Moderate buyer support has moved into the feeder cattle futures late morning Friday following strong early pressure which continued the downward market trend across the complex. There is expected to be some additional follow through support based on the short-covering activity that is now developing. Even though the overall tone of the cattle market remains extremely weak, the push higher in feeder cattle market has posted gains of 10 to 80 cents per cwt. Most traders are squaring positions in front of the weekend, rather than focusing on any changing direction in the market.

LEAN HOGS:

Narrow market movement has been seen through the entire morning in lean hog futures trade with front month October holding a $1.10 loss as traders remain focused on the lack of cash market support and bearish movement through the cattle market. Even though pork values bounced higher at midday, the inability to draw additional buyer support back into the market at the end of the week will likely create even more pressure through the complex. Cash prices are lower on the National Direct morning cash hog report. The weighted average price fell $2.25 at $73.15 per cwt with the range from $69.00 to $75.00 on 3,197 head reported sold. Cash prices are unreported due to confidentiality on the Iowa/Minnesota Direct morning cash hog report. The National Pork Plant Report reported 143 loads selling with prices adding $1.06 per cwt. Lean hog index for 8/16 is at $87.70 down $0.33 with a projected two-day index of $83.19, down $0.51.

Rick Kment can be reached at rick.kment@dtn.com

(BE)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.

DTN Closing Grain Comments 08/18 13:58

DTN Closing Grain Comments 08/18 13:58 Soybean Oil Gives Soybean Prices a Lift

November soybeans ended up 4 3/4 cents on a quiet day of trading where the most excitement came from a $0.42 gain in December soybean oil. December corn ended up 1 1/2 cents with traders waiting to see how next week's forecasts for rain pan out for Iowa.

DTN Cattle Close/Trends 08/18 15:55





USDA MARKET NEWS--AFTERNOON CATTLE REPORT 08/18/17

VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG KANSAS CONFIRMED CASH SALES - TODAY: 855 WEEK T0 DATE: 16,306 STEERS 745 109.00-109.00 109.00-109.00 109.00 HEIFERS 110 110.00-110.00 110.00-110.00 110.00

NEBRASKA CONFIRMED CASH SALES - TODAY: 555 WEEK TO DATE: 45,960 STEERS 165 175.00-175.00 175.00-175.00 175.00 HEIFERS No reportable trade

TEXAS CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 4,628 STEERS No reportable trade HEIFERS No reportable trade

COLORADO CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 5,838 STEERS No reportable trade HEIFERS No reportable trade

IOWA CONFIRMED CASH SALES - TODAY: 1,332 WEEK TO DATE: 22,671 STEERS 540 175.00-175.00 175.00-175.00 175.00 HEIFERS 320 175.00-175.00 175.00-175.00 175.00

COMMENTS: Just a little cleanup/carryover trade reported today at fully steady money with yesterday's trade.

5-AREA LV STR AVE PR&WT: $109.64(1436) HIDE&OFFAL: $10.76 -0.21 CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) #OF HD LIVE BASED 163.58 155.88 89,109 BOX BASED 183.63 182.20 54,781 AVE INDEX 173.61 -1.20 169.04 -1.20 143,890 BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#) 194.29 -1.34 192.50 -1.70 83.98 LDS CH CUTS / 14.30 LDS SEL CUTS / 0.00 LDS TRIM / 25.31 LDS GROUND BOXED BEEF TREND: Lr on lt-mod dem & hvy offers COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 08/11 $203.68 -2.71 CUTTER 90% 350# UP C/O: $181.48 -0.46 NAT'L BONELESS BF TRIM: 11.15 lds / Not fully established 90% TRIM: 03 lds: Wtd Avg $232.68 / Steady *ABCDE AFTER QUOTE REPRESENTS DAYS SINCE LAST REPORTED MARKET TEST*. FI KILL(WTD) FRI 115(582) WK AGO 114(583) YR AGO 113(566) MIX: THU SH94/CB23 SAT 52(634) WK AGO 58(641) YR AGO 36(602) WEEKLY CANADIAN CATTLE IMPORTS. FEEDERS SLAUGHTER S&H Week Ending: 08/05/17 2,543 5,966 Week Ending: 07/29/17 1,901 6,253 Change from prev week: +642 -287

DTN Chart Technical Points 08/18 16:30

DTN Chart Technical Points 08/18 16:30 DTN FUTURES 10 8/18/17 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 416.00 419.69 435.11 451.50 483.76 19.34 25.60 36.57 7 8 4 5 CBTWT DEC 442.50 446.56 462.28 478.19 507.88 18.26 25.13 36.71 7 8 4 5 KC WT SEP 414.50 418.69 436.14 452.96 486.97 15.11 22.98 35.37 7 7 4 4 KC WT DEC 442.25 446.31 463.69 480.44 513.48 15.31 23.19 35.56 8 7 4 4 MN WT SEP 668.75 667.69 687.03 706.54 724.73 31.96 37.15 46.80 44 34 20 16 MN WT DEC 682.50 680.50 699.81 718.92 728.40 32.35 37.88 47.79 43 33 21 17 CORN SEP 352.00 352.56 359.22 364.15 373.84 33.99 37.17 41.88 13 13 7 10 CORN DEC 365.75 366.25 373.00 378.03 386.46 34.07 37.52 42.43 12 12 7 10 CORN MAR 377.75 378.13 384.89 389.85 397.13 34.30 37.83 42.80 13 13 7 11 OATS SEP 254.75 257.81 262.97 274.14 275.53 24.71 34.15 45.57 9 9 4 5 OATS DEC 258.75 257.69 263.81 274.94 275.73 28.40 36.36 46.96 15 12 7 7 BEANS SEP 937.50 927.81 938.81 958.54 965.97 40.75 41.74 45.01 35 18 8 7 BEANS NOV 937.75 930.06 943.36 964.14 971.89 37.89 40.02 44.46 29 15 7 7 BEANS JAN 945.75 938.25 951.72 972.71 980.08 37.51 39.79 44.41 29 15 7 7 S MEAL SEP 297.20 295.92 299.50 307.27 312.96 33.87 36.61 41.64 19 11 4 5 S MEAL OCT 298.70 297.45 301.10 308.93 314.43 33.75 36.65 41.98 19 11 4 5 B OIL SEP 33.61 33.10 33.48 33.76 33.34 51.55 51.23 51.69 37 20 17 21 B OIL OCT 33.74 33.22 33.59 33.87 33.44 51.80 51.45 51.90 38 21 17 22 CATTLE AUG 106.38 108.26 109.24 111.52 114.08 26.09 31.06 39.19 21 31 10 10 CATTLE OCT 105.90 107.38 107.64 110.43 113.18 30.88 33.76 40.29 32 42 12 9 FEEDER AUG 140.50 142.14 142.38 145.23 146.88 34.65 38.21 44.48 18 36 14 12 FEEDER SEP 140.02 142.66 142.86 145.82 147.06 34.18 37.85 44.19 18 38 17 14 HOGS OCT 66.13 68.09 68.24 67.39 68.28 39.74 43.00 46.27 16 39 61 73 HOGS DEC 61.33 62.83 62.92 62.00 62.63 40.76 43.96 46.83 20 41 66 77 COTTON OCT 67.79 67.62 69.02 69.90 69.32 33.62 38.32 42.01 9 4 5 28 COTTON DEC 67.28 67.04 68.28 68.91 68.31 36.60 40.15 42.45 10 5 9 28 RICE SEP 12.15 12.17 12.25 12.28 12.00 45.92 50.05 55.18 16 20 55 70 RICE NOV 12.44 12.46 12.52 12.55 12.24 47.74 51.55 56.24 17 24 59 73

DTN Closing Livestock Comment 08/18 16:42

DTN Closing Livestock Comment 08/18 16:42 At Conclusion of Another Negative Week, Beef Futures Settle With Mixed Prices

The cattle complex closed on a mixed basis with deferred contracts generally holding up better than nearbys. Lean hog contracts also finished with mixed results, scrambled by a combination of long-liquidation and late-week profit-taking.

By John Harrington DTN Livestock Analyst



GENERAL COMMENTS

The cash cattle trade was not tested in the late rounds with buyers and sellers apparently satisfied with trade volume generated on Wednesday and Thursday. Showlists next week are expected to be steady to somewhat larger in size. Feedlot managers will be pricing ready cattle in a way that hopefully works to stabilize the late-summer sell-off. The National hog base closed off $2.06 compared with the Prior Day settlement ($69-$75, weighted average $73.34). From Friday to Friday, livestock futures scored the following changes: Aug LC off $3.35; Oct LC off $1.50; Aug FC off $1.27; Sep FC off $2.20; Oct LH off $2.50; Dec LH off $1.15. Corn futures closed about a penny lower, modestly supported by late-week short-covering. The stock market closed lower with the Dow off 76 and the NASDAQ down by 5.

Member Login

MyCardStatement Logo

btn atm

Like us on Facebook

Switch

 mastercard secure code

order personal checks

Go to top