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Tuesday, January 28, 2020

Live cattle futures settled $0.10 to $0.60/cwt lower, with the biggest loss occurring in April. Feeder cattle futures closed narrowly mixed, from $0.50/cwt lower in August to $0.22 higher in March. The CME feeder cattle index declined $0.56 to $143.76/cwt. Lean hog futures ended $0.10 to $0.85/cwt higher, led by the active April contract. The CME lean hog index increased $0.11 to $61.64/cwt. Corn gained back most of yesterdays losses by closing up 6 cents in todays session. Soybeans ended down 2-1/4 cents, and KC wheat lost 4-1/2 cents. The Dow Jones Industrial Average bounced back and added 187 points after yesterdays loss of over 450 points. The industry estimate for weekly cattle slaughter is 643,000 head. Packer commitments are estimated at 98 percent of fed slaughter for the week, compared to 100 percent for this week last year. After last Fridays trade, total live cattle open interest was at 392,472 contracts for a weekly net decrease of 5,086 contracts.

Futures Market Summary

Nearby Elec. Contract

Close

Change

High

Low

Live Cattle

$122.150

($0.100)

$123.100

$122.100

Feeder Cattle

$142.050

$0.150

$142.400

$141.775

Lean Hogs

$66.225

$0.275

$67.050

$66.150

Class III Milk

$17.04

$0.00

$17.05

$17.02

Corn

$3.8650

$0.0600

$3.8700

$3.7850

Soybean

$8.9500

($0.0225)

$8.9800

$8.8850

USDA Beef Complex

Item

Price

Change

Choice

$212.85

($0.74)

Select

$212.16

$1.66

Drop Credit

$9.09

($0.06)

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