Friday Market Watch

LIVESTOCK:

The live cattle complex closed in a mixed fashion by Friday's end, as the cattle complex saw hit and miss support from traders while the lean hog complex went higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.15 with a weighted average of $90.54 on 2,941 head. 

From Friday to Friday, livestock futures scored the following changes: October live cattle down $0.10, December live cattle up $0.57; November feeder cattle down $0.47, January feeder cattle steady; December lean hogs down $3.02, February lean hogs down $1.68; December corn down $0.04, March corn down $0.04.

Friday's slaughter is estimated at 124,000 head, 2,000 head more than a week ago and 4,000 head more than a year ago. Saturday's slaughter is estimated at 32,000 head. This week's estimated slaughter stands at 668,000 head, 5,000 head less than a week ago and steady with a year ago.

Boxed beef prices closed higher: choice up $0.77 ($263.26) and select up $2.58 ($234.49) with a movement of 93 loads (50.42 loads of choice, 10.32 loads of select, 15.27 loads of trim and 16.56 loads of ground beef). The choice/select spread sits at $28.77. Throughout the week choice cuts averaged $261.19 (up $9.26 from last week) and select cuts averaged $229.59 (up $7.69 from last week) and the week's total movement of cuts, grinds and trim totaled 607 loads.

More: Friday Closing Livestock Market Update - Traders Turn to Next Week

GRAINS:

December corn closed down 1 1/2 cents and July corn was down 1/2 cent. January soybeans closed up 6 3/4 cents and July soybeans were up 7 cents. December KC wheat closed down 7 1/4 cents, December Chicago wheat was down 9 1/4 cents and December Minneapolis wheat was down 5 1/2 cents. 

For the week:

December corn closed down 1 1/2 cents and July corn was down 3 cents. January soybeans ended down 4 1/4 cents and July soybeans were down 3 cents. December KC wheat closed down 23 1/4 cents, December Chicago wheat was down 21 1/2 cents and December Minneapolis wheat was down 16 1/2 cents.

DAIRY:

More: Friday Closing Dairy Market Update - Fluid Milk Sales Increase 0.8%

FORAGE: This Week's Hay Market Report (forage fodder blog)

OUTSIDE MARKETS:

The December U.S. Dollar Index is trading up 0.25 at 110.71. The Dow Jones Industrial Average is up 761.53 points at 32,794.81. December gold is down $20.70 at $1,644.90, December silver is down $0.34 at $19.16 and December copper is down $0.0820. December crude oil is down $1.34 at $87.74, December ultra-low sulfur diesel is up $0.0316, December RBOB gasoline is down $0.0944 and December natural gas is down $0.190.