DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- February live cattle are up $0.33 at $141.2, January feeder cattle are up $0.28 at $167.2, February lean hogs are down $2.85 at $81.4, December corn is down 1 3/4 cents per bushel and January soybean meal is down $2.50. The Dow Jones Industrial Average is down 839.69 points and NASDAQ is down 284.81 points. It's a quiet day throughout the livestock complex as most traders are absent from the markets and enjoying a long weekend. The cash cattle market hasn't seen any renewed interest and it's likely that bulk of this week's business is done with. Southern live cattle traded throughout the week at $138 to $140 and Northern dressed cattle traded for $217 to $220.

Posted 11:06 -- After midmorning Friday, grains are still sharply lower, rocked by investor concerns of a new coronavirus variant that is threatening to prolong supply chain disruptions. March corn is down 5 1/2 cents, January soybeans are down 17 3/4 cents. March KC wheat is down 8 1/2 cents. In spite of Friday's selling in KC wheat, Wednesday's new U.S. Drought Monitor showed increased drought conditions in the southwestern Plains where the forecast remains mostly dry the next two weeks. December Dow Jones futures are down 967 points and the December U.S. Dollar Index is down 0.74, December gold is down $0.20 and January crude oil is trading down $9.55.

Posted 08:36 -- After Friday's 8:30 a.m. CST open, grains are starting lower, rocked by concerns of a new coronavirus variant that is upsetting investors. March corn is down 9 1/2 cents, January soybeans are down 23 1/4 cents. March KC wheat is down 19 1/2 cents. Earlier Friday, USDA reported corn export sales at a new marketing year high of 56.3 million bushels and soybean sales at 57.5 million bushels -- both decent showings even though total export sales of both remain below last year's levels. December Dow Jones futures are down 810 points and the world's other stock markets are also lower. The December U.S. Dollar Index is down 0.62, December gold is up $18.60 and January crude oil is trading down $5.35.

Livestock

Posted 11:36 -- February live cattle are up $0.33 at $141.2, January feeder cattle are up $0.28 at $167.2, February lean hogs are down $2.85 at $81.4, December corn is down 1 3/4 cents per bushel and January soybean meal is down $2.50. The Dow Jones Industrial Average is down 839.69 points and NASDAQ is down 284.81 points. It's a quiet day throughout the livestock complex as most traders are absent from the markets and enjoying a long weekend. The cash cattle market hasn't seen any renewed interest and it's likely that bulk of this week's business is done with. Southern live cattle traded throughout the week at $138 to $140 and Northern dressed cattle traded for $217 to $220.

Posted 08:33 -- February live cattle are down $1.58 at $139.3, January feeder cattle are down $1.58 at $165.35, February lean hogs are down $0.93 at $83.325, December corn is down 12 cents per bushel and January soybean meal is down $2.90. The Dow Jones Industrial Average is down 804.22 points and NASDAQ is down 178.45 points. Beef net sales of 19,300 mt for 2021 were down 24% from the previous week and 6% from the prior four-week average. The three largest buyers were South Korea (4,600 mt), China (4,400 mt) and Canada (2,800 mt). Pork net sales of 17,500 mt for 2021 were down 30% from the previous week and 43% from the prior four-week average. The three largest buyers were Mexico (11,300 mt), Japan (2,400 mt) and South Korea (1,600 mt).