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Friday, December 28,2012

Holiday week impacts trade

by WLJ
The Christmas holiday disrupted cattle markets all around last week. Production was expected to be down, so the urge to buy fed cattle was low on that front. On the other side, however, the fact packers are running out of contract cattle put some pressure on them to buy negotiated fed cattle.

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Friday, December 28,2012

Placements surprise in recent report

by Kerry Halladay, Associate Editor
21. Because of surprising placement numbers—down compared to last year, but not as down as expected—the report is being called bearish for live cattle futures by CME analysts. On-feed numbers were almost dead-on to pre-report expectations and marketings were slightly below expectations.

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Friday, December 21,2012

Early week futures rally

by WLJ
The cash fed cattle trade was slow to develop again last week, though not as slow as in recent prior weeks. Throughout the first half of the week, trade was nonexistent. Cattle feeders were asking $128-130 live and $202- 205 dressed and ignored the offers of $123 live in the Southern Plains and the $195 dressed bids.

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Friday, December 14,2012

Surprise rally in futures

by WLJ
No trend-setting trade had developed by Thursday afternoon last week. Expectations of continued sluggish demand, packers with plenty of contract cattle to work from, and futures making a steady upward run made for little motivation on the packer side.

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Friday, December 7,2012

Flagging demand, product prices worrisome

by WLJ
Larger showlists, the expectation of more slaughter-ready cattle coming available in the short term due to limited feeding options given wheat pasture situations, and in-the-red packing margins gave packers the power on prices last week.

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Friday, December 7,2012

CME reporting error on wheat

by Kerry Halladay, Associate Editor
Thursday, Nov. 29, CME closed trading on wheat and its other commodities as usual. Its initial Deliverable Commodities Under Registration Report erroneously reported the number of wheat contracts available for delivery as substantially lower than accurate.

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Saturday, December 1,2012

Futures down, product up

by WLJ
Some cash trade developed on Monday to the tune of a couple thousand head of cattle selling live in Texas at $128. This would be steady with the week prior. These cattle reportedly went to JBS and were thought to be effectively cleanup trade from the week before where they found themselves short bought.

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Friday, November 23,2012

Placements down, called friendly to prices

by Kerry Halladay, Associate Editor
The most recent Cattle on Feed (COF) report was released Friday, Nov. 16 covering cattle on feed in feedlots with at least a 1,000-head capacity as of Nov. 1 as well as cattle placed on feed and marketed during the month of October.

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Friday, November 23,2012

Short week; COF favors futures

by WLJ
Despite the reportedly shortbought nature of many packers the week before, and the full production week expected this week, packers were not particularly quick to buy cattle during last week’s short window of purchasing opportunity. By Wednesday morning, no sales had been reported and very few bids had been placed.

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Friday, November 16,2012

Corn, soybean production up, beef down

by Kerry Halladay, Associate Editor
In what has been called neutral to slightly bearish, the most recent USDA World Agricultural Supply and Demand Estimates (WASDE) report was released Friday, Nov. 9. Beef production, imports and exports were lowered compared to the previous report, and corn and soybean yield and production estimates rose for the first time in a long while.

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