[Fri]: Steer weights fell 8 pounds in this specific week to 913 pounds, Allendale said. Heifers were down by 8 also in just this one week… Some cattle operators are looking to the grain markets each day before the livestock markets. Feed costs is on everyone's mind, according to The Cattle Report… [Thurs]: Afternoon National Slaughter Cattle Review / Boxed beef cutout values this afternoon were higher… In negotiated cash sales in Nebraska, the USDA reported 2,125 head sold dressed at $175-177, with 417 sold live at $112. In Iowa/Minnesota, 221 head were sold live at $109-112, and 3,417 head were sold dressed at $174-180. Live cattle continue the trend downward while feeder cattle were up slightly mainly due to weakness in feed grains, according to Total Farm Marketing…

 

Farm Commodity Newsletter/Iowa Farmer Today

 

Fri 1/8/2021 9:06 AM

 

Cattle - Steer weights fell 8 pounds in this specific week to 913 pounds, Allendale said. Heifers were down by 8 also in just this one week.

 

Feb cattle futures closed the Thursday session with 2-cent losses, said Alan Brugler of Brugler Marketing. The other front months closed with 22- to 42-cent gains.

 

Hogs holding steady

 

Lean hog calls are steady to higher, though we look for the front month contract to continue to struggle with October price resistance, according to Total Farm Marketing. Deferred contracts are showing strength, erasing Wednesday’s losses and challenging or establishing new highs.

 

Some cattle operators are looking to the grain markets each day before the livestock markets. Feed costs is on everyone's mind, according to The Cattle Report. Winter is a time when many operations require supplemental feed for the cattle and those rations are running one-third higher than last year. Farmers are moving quickly to take advantage of multi-year highs for corn and grain elevators have lower basis bids for fall crops.

 

Traders eye USDA reports

 

Grain markets are beginning to turn their focus to next week’s USDA reports, while keeping a close eye on near-term South American weather and longer term U.S. maps, Allendale said.

 

In Brazil, conditions will still be favorable for crops in most of the nation. There will still be some pockets that are drier than preferred from Rio Grande do Sul into Parana and greater rain will be needed in this area later in the month to prevent crop stress from becoming serious, said Steve Freed of ADM Investor Services.

 

Thu 1/7/2021 4:57 PM

 

Boxed beef cutout values this afternoon were higher on Choice and Select, USDA said.

 

Choice rose 54 cents to $205.81/cwt.

Select went up 51 cents to $196.59.

 

In negotiated cash sales in Nebraska, the USDA reported 2,125 head sold dressed at $175-177, with 417 sold live at $112. In Iowa/Minnesota, 221 head were sold live at $109-112, and 3,417 head were sold dressed at $174-180.

 

Live cattle continue the trend downward while feeder cattle were up slightly mainly due to weakness in feed grains, according to Total Farm Marketing.

 

Front month live cattle futures were trading higher early in the day, according to Brugler Marketing and Management.

 

Hogs strong despite some losses

 

February cattle closed slightly higher on the session in choppy and two-sided trade while February hogs closed moderately lower, according to The Hightower Report.

 

The hog market has been rocking and rolling this winter and while it was down today it is still relatively strong, according to Scott Shellady of the CME Group

 

Grains lower as dollar firms

 

The corn, soybean and wheat markets all closed lower in slow, uneventful trade, according to CHS Hedging. A firm U.S. dollar, soft weekly export sales, and weather patterns in South America were contributing factors.

 

Profit-taking was a factor in today’s markets, although the dollar and disappointing export sales were also factors, according to Karl Setzer of Agrivisor.

 

Corn

 

Corn futures traded lower and talk that corn futures may be technically overbought with managed funds was a factor, according to ADM Investor Services.

 

Trade is starting to more closely monitor U.S. corn balance sheets and while current stocks to use on corn is adequate that could quickly change, according to Karl Setzer of Agrivisor.

 

Soybeans

 

Soybeans traded lower and some long liquidation after recent sharp gains could be linked to traders evening up before next week’s USDA report, according to ADM Investor Services.

 

While soybeans were down they are still near to a six and a half year high, according to Scott Shellady of the CME Group.

 

Wheat

 

Wheat futures traded lower, thanks in part to the lower corn and bean markets, according to ADM Investor Services.

 

Positioning ahead of the USDA report, a sharp rally in the U.S. dollar and news of higher Argentina crop production helped to put pressure on the wheat market, according to The Hightower Report.

 

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