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The Markets

What do the technical say? February through August live cattle futures show strong upward trends with resistance planes repeatedly broken and the trend holding when tested. More deferred contracts do not have enough history to make these statements. This is a strong bullish market. But watch for trends and support planes to break. These would be sell signals. The spring batch of feeder cattle contracts do not show similar strength. These contracts weakened through October and have shown $4-5 swings in December. I anticipate that support for feeder cattle prices will break when the live cattle contracts do the same. But overall a reasonable situation for cattle markets to start the year.
 
Week of
Week of
Week of
Data Source: USDA-AMS Market News
1/4/2019
12/28/2018
1/5/2018
 
 
 
$/cwt
 
5-Area Fed Steer
all grades, live weight
$122.55
$122.52
$121.61
all grades, dressed weight
$194.64
$194.25
$193.83
Boxed Beef
Choice Price, 600-900 lb.
$215.75
$215.13
$207.98
Choice-Select Spread
$6.09
$7.69
$8.26
700-800 lb. Feeder Steer
Montana 3-market
Nebraska 7-market
$153.91
$161.23
Oklahoma 8-market
$152.96
500-600 lb. Feeder Steer
Montana 3-market
Nebraska 7-market
$181.75
$190.92
Oklahoma 8-market
$171.72
Feed Grains
Corn, Omaha, NE, $/bu
$3.63
$3.55
$3.29
DDGS, Nebraska, $/ton
$165.00
$156.00
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