[Thurs] Boxed beef cutout values this afternoon were lower… In negotiated cash sales in Nebraska, the USDA reported 7,863 head sold dressed at $209.86 to $210 and 11,744 sold live at $133.51 to $134.29. In Iowa/Minnesota 9,842 head were sold live at $133.01 to $134.12 and 3,956 head were sold dressed at $209 to $209.71… / Afternoon National Slaughter Cattle Review: Thus far for Thursday negotiated cash trading and demand have been light to moderate in the Southern Plains, Nebraska, and the Western Cornbelt. Compared to last week in the Southern Plains, live purchases have traded 1.00 higher at 133.00. In Nebraska, compared to last week, live purchases have traded 1.00 to 2.00 higher from 133.00-134.00 and dressed purchases have traded 3.00 higher at 210.00. In the Western Cornbelt compared to last week, live purchases have traded mostly 1.00 to 3.00 higher at 133.00 and dressed purchases have traded 3.00 higher at 210.00. Negotiated cash trading in Colorado has been mostly inactive on light demand. Not enough purchases for a market trend. Last week in Colorado live purchases traded at 132.00.  

 

Farm Commodity Newsletter/Iowa Farmer Today

Thu 11/18/2021 4:29 PM

 

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

 

Choice down $2.31 to $276.16.

Select down 90 cents to $263.16.

 

In negotiated cash sales in Nebraska, the USDA reported 7,863 head sold dressed at $209.86 to $210 and 11,744 sold live at $133.51 to $134.29. In Iowa/Minnesota 9,842 head were sold live at $133.01 to $134.12 and 3,956 head were sold dressed at $209 to $209.71.

 

China was the largest buyer in the weekly export sales report for the second week in a row and traders still believe consumer demand this holiday season will be strong, according to The Hightower Report.

 

The November cattle on feed report will be released after the market closes tomorrow and trade is expecting mixed numbers, according to Karl Setzer of Agrivisor.

 

December hogs fall as chinese hog imports are down

 

February live cattle and January feeder cattle were both up today while February lean hogs were up as well, though December hogs were sharply down, according to The Hightower Report.

 

Chinese imports of hogs from the United States in October were down 41 percent from last year, according to Terry Roggensack of the CME Group.

 

Crop markets slide Thursday

 

The grain and oilseed complex opened stronger but by mid-morning it had faded on lackluster export sales and profit-taking, according to CHS Hedging.

 

Managed money flow is driving the market right now and that will likely mean more volatility, according to Karl Setzer of Agrivisor. There were solid export numbers, which was supportive, but no flash sales were reported and that was disappointing.

 

Corn

 

Corn futures rallied early in the session but faded on talk EPA could announce biofuel madates this week, according to ADM Investor Services.

 

Corn demand has been mixed in recent weeks with the United States seeing demand from Mexico and the hope there would be more Canadian business in the near future, according to Karl Setzer of Agrivisor.

 

Soybeans

 

The soybean market opened higher but faded throughout the day after the soybean meal and oil futures lost steam, according to CHS Hedging.

 

It was an inside trading day and while outside marke forces were positive beans still closed lower, according to The Hightower Report.

 

Wheat

 

Wheat was lower in all three classes after seeing new contract highs today in Chicago and Kansas City before profit-taking developed, according to CHS Hedging.

 

Wheat futures have been trending higher on lower Canada and U.S. spring wheat supplies, record low world stocks to use ratios and higher Russian prices, but there was some talk Canadian shipments could be slowed by the washout of rail service to Vancouver, according to ADM Investor Services.

 

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