The Markets

What do the technical say? DEC18 corn sits on support at $3.60. This contract is a much-watch for beef producers. Continued weakness will be strength for feeder cattle. AUG and OCT live cattle are nibbling into resistance established in late April and tested in late June. This is a bullish signal but without much fundamental backing that I can see. The fall feeder cattle complex has broken resistance and this is a bullish signal. Similar to live cattle, resistance was established in late April and tested in late June. Support was established in early April and tested in mid-May. Feeder cattle have rallied off of support and broken resistance. Both are bullish signals.
 
 
Week of
Week of
Week of
Data Source: USDA-AMS Market News
 
6/29/2018
6/22/2018
6/30/2017
 
 
 
$/cwt
 
5-Area Fed Steer
all grades, live weight
$106.87 
$108.74 
$118.64 
all grades, dressed weight
$169.90 
$173.21 
$189.95 
Boxed Beef
Choice Price, 600-900 lb.
$215.00 
$218.65 
$230.64 
Choice-Select Spread
$14.29 
$16.42 
$17.80 
700-800 lb. Feeder Steer
Montana 3-market
$151.50 
Nebraska 7-market
$163.85 
$169.54 
Oklahoma 8-market
$145.72 
$146.26 
$150.96 
500-600 lb. Feeder Steer
Montana 3-market
$163.50 
Nebraska 7-market
$186.79 
$196.99 
Oklahoma 8-market
$162.50 
$165.36 
$166.07 
Feed Grains
Corn, Omaha, NE, $/bu 
$3.31 
$3.42 
$3.32 
DDGS, Nebraska, $/ton
$115.00 
$130.00 
$98.50 
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