| |
DTN Midday Livestock Comments 11/18 11:45
Traders Scout Livestock Market for More Support
Until something substantial develops fundamentally to give traders the
support they need, a sideways/lower trend is likely for the livestock contracts.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is trading mixed: with the cattle contracts teetering
along both sides of steady, while the hog contracts are trading fully lower.
Still no developments have surfaced in the fed cash cattle market. December
corn is up 1 1/2 cents per bushel and December soybean meal is down $3.00. The
Dow Jones Industrial Average is down 635.31 points and the NASDAQ is down
336.90 points.
LIVE CATTLE:
The live cattle complex is trading mixed, erring on the side of caution as
traders would like to see the contracts trade fully higher but need sure-fire
fundamental support this week to successfully do so. December live cattle are
down $1.10 at $220.17, February live cattle are down $0.77 at $220.97 and April
live cattle are down $0.27 at $221.45. No developments have surfaced in the fed
cash cattle market, and trade will likely be delayed until later in the week,
as that's usually what happens whenever a Cattle on Feed report is released. No
bids or asking prices are currently on the table.
Boxed beef prices are mixed: choice up $2.87 ($373.28) and select down $0.55
($355.75) with a movement of 90 loads (52.27 loads of choice, 11.01 loads of
select, 14.00 loads of trim and 12.62 loads of ground beef).
FEEDER CATTLE:
Likewise, the feeder cattle complex is also trading in a mixed manner as the
market isn't confident that there will be enough support in the market to trade
fully higher. January feeders are down $0.07 at $326.20, March feeders are up
$0.10 at $318.65 and April feeders are down $0.25 at $315.57. Until something
wildly bullish develops, the feeder cattle complex will likely continue to
trade in a sideways manner as it's going to take some substantial support to
push the contracts back over the market's 100-day moving average.
LEAN HOGS:
The lean hog complex is trading fully lower and currently pressuring the
market's support plane as traders aren't seeing enough support arise in the
marketplace to send the contracts higher. December lean hogs are down $0.62 at
$77.95, February lean hogs are down $1.47 at $77.92 and April lean hogs are
down $1.05 at $81.97. With midday pork cutout values lower, the complex could
likely continue this trend through the day's close.
The projected lean hog index for 11/17/2025 is down $0.33 at $86.67, and the
actual index for 11/14/2025 is down $0.94 at $87.00. Hog prices on the Daily
Direct Morning Hog Report average $75.66, ranging from $68.00 to $77.00 on
3,231 head and a five-day rolling average of $77.31. Pork cutouts totaled
208.12 loads with 192.88 loads of pork cuts and 15.24 loads of trim. Pork
cutout values: down $0.94, $96.07.
ShayLe Stewart can be reached at shayle.stewart@dtn.com
(c) Copyright 2025 DTN, LLC. All rights reserved.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot.
|
|
