[Mon] Boxed beef cutout values this afternoon were lower… In negotiated cash sales in Nebraska, the USDA reported 40 head sold dressed at $208. In Iowa/Minnesota 64 head were sold dressed at $206.61. Cash is expected to trade higher this week but strong exports last week weren’t enough to push cattle higher then, according to Total Farm Marketing… / Afternoon National Slaughter Cattle Review: So far for Monday negotiated cash trading in the Southern Plains and Colorado has been at a standstill. In Nebraska and Western Cornbelt negotiated cash trading has been mostly inactive with very light demand. Not enough purchases for a market trend. Last week in the Southern Plains, Nebraska and Colorado live purchases traded at 132.00, and dressed purchases, in Nebraska, traded at 207.00. For the prior week in the Western Cornbelt live and dressed purchases traded from 130.00-132.00 and at 207.00, respectively.

 

Farm Commodity Newsletter/Iowa Farmer Today

Mon 11/15/2021 4:30 PM

 

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

 

Choice down $1.10 to $283.20.

Select down $2.25 cents to $267.28.

 

In negotiated cash sales in Nebraska, the USDA reported 40 head sold dressed at $208. In Iowa/Minnesota 64 head were sold dressed at $206.61.

 

Cash is expected to trade higher this week but strong exports last week weren’t enough to push cattle higher then, according to Total Farm Marketing.

 

Consumer spending looks very strong into the holiday season and while there are concerns with higher food and energy prices, consumer spending looks strong, according to The Hightower Report. December cattle closed down but January feeder cattle closed up today.

 

Quiet cattle markets expected this week

 

December cattle closed lower and February cattle closed higher after being down early in the day, according to The Hightower Report. December hogs closed slightly down on the day.

 

It could be a quiet week in the cattle market but the long-term outlook remains fairly upbeat, according to Oliver Sloup of Blue Line Futures.

 

Grains mixed to open week

 

The grain and oilseed complex was mixed to start the week with corn ending up lower while soybeans and soybean meal were higher and wheat was mixed, according to CHS Hedging.

 

While there was buying interest in the market, sellers were also quick to show up and in the grains futures ran into technical resistance, according to Karl Setzer of Agrivisor.

 

Corn

 

Corn futures are stuck near $5.74 as U.S. domestic ethanol markets are near season highs and processors are aggressive buyers to meet grind needs, according to ADM Investor Services.

 

The front three months of corn were slightly lower while the deferred months gained on the day, according to CHS Hedging.

 

Soybeans

 

The soybean market closed higher on the strong rally in soybean meal, according to CHS Hedging.

 

One factor being monitored is the volume of fertilizer being applied this fall because it may make a difference on whether some acres are planted to corn or soybeans next spring, according to Karl Setzer of Agrivisor.

 

Wheat

 

Wheat futures were mixed with higher global prices offering some support as everyone watches to see what happens in Russia, according to ADM Investor Services.

 

Minneapolis wheat plunged lower after the open while Chicago and Kansas City were able to close slightly higher, according to CHS Hedging.

 

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