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Markets Brought to you by CattleFax

Provided by CattleFax

May 18, 2020

Live cattle futures settled $0.25 to $1.72/cwt higher, with the spot June contract gaining the most to narrow the gap between cash and futures. Feeder cattle futures closed $0.57 to $1.87/cwt higher, led by the nearby May contract. The CME feeder cattle index increased $0.93 to $125.73/cwt. Lean hog futures finished mixed, from $0.22/cwt lower in June to $2.00 higher in April. The CME lean hog index decreased $0.17 to $68.70/cwt. Corn ended 1-1/2 cents higher, and soybeans added 6-1/2 cents. KC wheat lost 6 cents in todays session. Cash fed cattle prices were higher last week trading from $110 to $120/cwt for a weekly average of $113.72/cwt. The weekly composite cutout moved $17.48/cwt higher last week to another record high of $456.11 even with prices drifting lower late in the week. The 90% lean trimmings market increased $21.62 last week to $293.90/cwt. The 50s market averaged $256.68/cwt, decreasing $18.60 last week. The CattleFax total showlist is 7,600 head larger this week at 333,200 head.

Futures Market Summary
Nearby Elec. Contract Close Change High Low
Live Cattle $98.725 $1.725 $100.000 $97.175
Feeder Cattle $126.600 $1.875 $127.000 $125.500
Lean Hogs $57.650 ($0.225) $58.800 $57.100
Corn $3.2075 $1.5000 $3.2200 $3.1800
Soybean $8.4500 $6.5000 $8.4775 $8.3875
USDA Beef Complex
Item Price Change
Choice $0.00 $0.00
Select $0.00 $0.00
Drop Credit $6.88 $0.00

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