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Markets Brought to you by CattleFax

Tuesday, May 23 2018
Cattle futures markets posted mostly modest gains today after yesterdays strong rally. Live cattle closed $0.03 to $0.43/cwt. higher, except the nearby June contract which was down $0.03. Feeder cattle closed $0.03 to $0.23/cwt. higher. Lean hog futures fell $0.18 to $1.73/cwt. The CME Feeder Cattle Index moved $0.22 lower to $133.41 and the CME Lean Hog Index gained $0.62 to $68.36. Corn futures closed 1 to 2-1/4 cents higher, soybeans closed 5-1/4 to 6 cents higher and KC wheat gained 10 to 14 cents. Packer commitments are estimated at 95% of fed slaughter for this week. Total live cattle open interest was at 359,628 after Fridays trade for a weekly net increase of 3,617 contracts. Seasonally, open interest tends to decrease into the summer.

Futures Market Summary

Nearby Elec. Contract

Close

Change

High

Low

Live Cattle

$104.900

($0.025)

$105.225

$104.125

Feeder Cattle

$133.950

$0.025

$134.000

$133.575

Lean Hogs

$73.125

($0.875)

$73.575

$72.550

Class III Milk

$15.24

$0.02

$15.24

$15.21

Corn

$4.0475

$0.0200

$4.0700

$4.0100

Soybean

$10.3050

$0.0525

$10.3600

$10.2025

USDA Beef Complex

Item

Price

Change

Choice

$229.35

($1.47)

Select

$205.86

($1.66)

Drop Credit

$9.46

$0.00

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