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CattleFax Daily Market Outlook and Analysis

Thursday, April 27, 2017

Active cash fed cattle trade occurred today. In the North prices were $3-$6 higher at $136-$140/cwt. in live trade and $216-$219/cwt. in dressed trade. In the South, trade occurred $3-$6 higher at $135-$138/cwt. The April live cattle contract expires tomorrow and closed $3.57/cwt. higher and the next six contracts were all limit higher. Feeder cattle futures closed $1.00/cwt. higher in the April contract and limit higher in the next five contracts. Lean hog futures closed $0.80 to $2.27/cwt. higher. The CME lean hog index moved $0.23 lower to $59.93/cwt. and the CME feeder cattle index moved $0.42 higher to $139.86/cwt. Corn futures closed 2-1/2 cent to 3-1/4 cents higher, soybeans closed 1/4 cent lower to 3/4 cents higher, and KC wheat closed 6 to 8-1/2 cents higher. USDA steer carcass weights were down 4 pounds to 848, this is 30 pounds below this week last year. USDA FAS weekly beef exports were 13,679 metric tons, down 1/2 percent from the previous four-week average. Shipments continue to stay above year ago levels for all major markets. Pork exports were 20,458 metric tons and up 19 percent year-to-date.

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Futures Market Summary

Nearby Elec. Contract Close Change High Low
Live Cattle $135.600 $3.575 $137.000 $132.500
Feeder Cattle $140.850 $1.000 $140.850 $139.975
Lean Hogs $66.900 $2.225 $67.625 $65.250
Class III Milk $15.18 ($0.03) $15.20 $15.18
Corn $3.6200 $0.0300 $3.6400 $3.5850
Soybean $9.4575 $0.0000 $9.5050 $9.4350

USDA Beef Complex

Item Price Change
Choice $219.15 ($0.03)
Select $206.68 $0.96
Drop Credit $11.96 ($0.01)

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