Weekly Market Summary For the week ending January 27, The Cattle Range Market Trendlines: Both the 10 and 30 day trendlines have nearly "flat-lined" and the optimism that developed in December has been dampened by the reality of market fundamentals.

For the foreseeable future, there will be large supplies of beef and other meats competing for consumer dollars in an anemic economy that grew at an annual rate of only 1. Change from Previous Day: Change from 30 Days Ago: View previous Summaries in the. USDA National Retail Beef Report. Photo of the Week. Shootin' the Bull Weekly Analysis. Dollar - 6 Month Chart. Weekly Meat Production Under Federal Inspection. Weekly Feedstuffs Market Review. January Cattle on Feed Report.

USDA Cold Storage Report. Analysis of USDA Cold Strorage Report. Beef Boom Is Probably Over. Lean Beef Demand Adds Premium to Cull Cow Prices. Ag Coalition Asks Trump to Preserve NAFTA 'Windfall'. Boxed Beef Out-Front Sales Soar.

CME Futures Rolling Over. True yearlings sold unevenly steady at auctions throughout the Plains. After last week's crippling ice storms, much warmer temperatures brought about a big thaw, only to have another storm hit the Dakotas and most of Nebraska mid-week. With that thaw, also brought reports of muddy pens and cattle carrying "tag" on sale day.

Even though it was cold outside in the North mid-week, demand was good from the buyers in the crowd, even though some receipts were curtailed due to road conditions.

Recent precipitation has backgrounders optimistically planning for spring and summer grazing on grass pastures. On Tuesday in Philip SD, 3 loads of steers weighing from to pounds sold at Live fed cattle trade on Thursday called steady to 2. Cattle feeders appear to have a better return on investment recently compared to most of The handsome fed cattle rise in prices during the holidays have went a long way in bringing a smile underneath many weathered cowboy hats.

Auction volume this week included 54 percent weighing over lbs and 41 percent heifers. Live cattle futures ended the day slightly lower and feeder futures were narrowly mixed. The market is at risk of followthrough pressure next week if signals point to weaker cash cattle trade.

Feeder steers lbs 2. Steer and heifer calves lbs and under steady to 4. Green Forest Livestock Auction - Green Forest AR Receipts: Tulia Livestock Auction - Tulia TX Receipts: Yearling steers and heifers sold mostly 1.

Steers and heifers weighing under lbs sold 4. Mitchell Livestock Wtd Avg Report - Mitchell SD Receipts: Receipts much lighter than expected,as a winter strom brought near a foot of snow to much of the local area.

Steers lbs mostly 3. Cullman Stockyard - Cullman AL Receipts: Slaughter cows sold 2. Feeder bulls and steers sold 2. Russell Wtd Avg Feeder Cattle Auction - Russell IA Receipts: Feeder strs under lbs. Oklahoma National Stockyards - Oklahoma City OK Receipts: Feeder steers under lbs 2. Feeder heifers trading steady to 5. El Reno Cattle Narrative - El Reno OK Receipts: Feeder steers and heifers sold 3. Steer and heifer calves sold steady to 5.

Demand remains good for light weight calves, especially steer calves. Joplin Regional Stockyards Feeder Cattle Wtd Avg - Carthage MO Receipts: Huss Platte Valley Auction - Kearney NE Receipts: Demand was good from the buyers in the crowd with internet activity noticed on a shorter than expected consignments sheet due to a winter storm moving through much of the trade area over the last couple days.

Toppenish, WA Livestock Auction - Toppenish WA Receipts: Trade active with good demand.

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Cattleman's Livestock Auction - Dalhart, TX Cattle and Calves: Steer and heifer feeders and calves were mostly steady to 2. Pratt Livestock Feeder Cattle Auction - Pratt, KS Receipts: Feeder Steers lbs few Thin fleshed firm to 3. Clovis Livestock Auction - Clovis NM Receipts: Feeder steers and heifers under lbs 8.

Slaughter cows mostly 2. Sioux Falls Regional Livestock wtd Avg Report - Worthing SD Receipts: Feeder steers lbs steady to 5. Blue Grass South Livestock Market - Stanford KY Receipts: Feeder steers and heifers steady to 2.

Slaughter cows and bulls steady with good demand. Tri-State Livestock Auction Market - McCook NE Receipts: Demand was good on all weights of cattle offered.

Steers accounted for 69 percent and heifers 31 percent of the offering today. Weights over lbs 78 percent of the offering. Winter Livestock - La Junta CO Light steer calves under lbs Heifers under lbs Demand was good with several feedlots buying cattle this week. AZ-CA-NV Weekly Feeder Cattle Review Fri Confirmed: Trade moderate to active, demand moderate to good.

Supply consisted of Holstein steer calves weighing lbs for February through June delivery. Colorado Direct Feeder Cattle Report Fri Receipts: Feeder steers and heifers were lightly tested on a current FOB basis but a higher undertone was noted. Demand moderate to good.

IA-South MN Direct Feeder Cattle Weekly Mon Receipts: Feeder steers and heifers again not established. Winter storms in the north is limiting movement of cattle.

Prices based on net weights FOB after a 3 percent shrink or equivalent and cent slide on calves and cent slide on yearlings from base weights. Kansas Direct Feeder Cattle Summary Fri Receipts: Sales confirmed on steer, heifers and Holstein calves for a total of head compared with last week and last year.

Montana Direct Feeder Cattle Wtd Avg Fri Receipts: Feeder steers and heifers lightly tested but no recent test for a trend. Supply included percent over lbs; 27 percent heifers. Unless otherwise stated prices are FOB weigh point with a percent shrink or equivalent and with a cent slide on calves and cent slide on yearlings from base weights.

New Mexico Feeder Cattle Report Mon Receipts: Not enough Current FOB comparable sales for a market trend on steers or heifers; however, a weak undertone was noted. Trade activity was moderate on moderate to good demand. Supply consisted of 98 percent steers and 2 percent heifers.

Northwest Wtd Avg Direct Feeder Cattle Report Fri Receipts: Trade moderate with good demand following recent advances on slaughter cattle prices. The feeder supply included 62 percent steers and 38 percent heifers. Oklahoma Direct Feeder Cattle Fri Receipts: Feeder steers lightly tested on an FOB basis but traded steady to 3.

Receipts this week consisted of percent over lbs and 25 percent heifers. Texas Direct Feeder Cattle Fri Confirmed: USDA Market News for the week ending January 27th. Medium and Large Young to long solid mouth cows lb cows months bred First Calf Heifers lb cows months bred Medium and Large Solid Mouth 24 head 3rd trimester lbs Large Solid Mouth 5 head 2nd trimester lbs Large 2 Broken Mouth 7 head 3rd trimester lbs Medium and Large Heifers lbs mostly blk 3rd stage Medium and Large Few Short-solid mouth lb cows with lb calves Dispersion Spring Bred Cows: Bull Bred Heifers lbs Young lbs Solid Mouth lbs Short Solid lbs Broken Mouth lbs Late Bred lbs Other Spring Bred Cows: Medium and Large Young lbs Medium and Large 1 Young lbs Young mostly lbs Medium and Large calving before May 15th lbs 1, Medium and large calving Aug-Sept lbs Middle aged Solid mouth and large calving before May 15th lbs Medium and Large 1 Aged Broken mouth calving before May 15th lbs Medium and Large calving before May 15th lbs Alberta direct cattle sales so far this week have seen light trade develop with dressed sales marketed at Initial sales are generally 1.

Buyers were indicating cattle that they bought this week would be lifted in weeks. Prices have been converted to U. Grades changed to approximate U. Prices for the week ending January 20th: Tire-Changing Ramp for Trailers. January 27th Cattle on Feed Report: United States Cattle on Feed Up Slightly Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1, or more head totaled The inventory was slightly above January 1, The inventory included 7.

This group accounted for 66 percent of thetotal inventory. Heifers and heifer calves accounted for 3. Placements in feedlots during December totaled 1. Net placements were 1. During December, placements of cattle and calves weighing less than pounds werehead, pounds werehead, pounds werehead, and pounds and greater werehead. Marketings of fed cattle during December totaled 1. Other disappearance totaled 55, head during December, 29 percent below Complete December Cattle On Feed Report.

Cattle on Feed by State as of January 1st. As of December 31st, Total red meat supplies in freezers were up 1 percent from the previous month but down 2 percent from last year.

Total pounds of beef in freezers were up 7 percent from the previous month and up 11 percent from last year. Frozen pork supplies were down 8 percent from the previous month and down 13 percent from last year. Stocks of pork bellies were down 4 percent from last month and down 67 percent from last year. Total frozen poultry supplies were up 6 percent from the previous month and up 2 percent from a year ago. Total stocks of chicken were up 2 percent from the previous month but down 6 percent from last year.

Total pounds of turkey in freezers were up 18 percent from last month and up 39 percent from December 31, Analysis of USDA Cold Strorage Report CME Group. Frozen beef inventory levels have tended to reflect product in staging areas for both imports and exports.

The 37 million pound increase in beef cold storage holdings over the course of December was the second largest increase for that month since The biggest increase was in Decembera 43 million pound increase.

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The declining frozen pork inventories during December provides more fodder for questions than any other frozen product statistics from the USDA-NASS cold storage report.

Frozen pork inventories during December declined by more than any other December over the last 10 years. The drop in pork totaled 41 million pounds during the month. The year with the next biggest decline waswith a 26 million pound reduction. Ham inventories fell by 36 million pounds for the month.

Pork belly frozen inventories for the end of the year were the lowest on record, going back to Belly inventories at the end of were The next lowest end of the year inventory was In Decemberthe value of the pork belly primal component of the hog carcass was 78 cents per pound source: Pork belly prices in made their bottom following bacon-lettuce-tomato season in September at 61 cents.

In andfrozen belly inventories were 63 and 65 million pounds, respectively, on April 1. In order to get inventories to that level, 21 million pounds of bellies had to be reserved from winter quarter pork belly i. This year, in order to reach the 65 million pound frozen inventory on April 1, winter quarter bacon consumption will have to be reduced by 47 million pounds. Rising prices are the classic economic tool for cutting consumption. Beef Boom Is Probably Over Bloomberg News.

Thanks to tightening animal supplies and tepid demand, companies including Tyson Foods Inc. As a result, cattle futures in Chicago have rebounded 22 percent since bottoming in mid-October, while the price packers get for wholesale beef has tumbled in the past year amid stiff competition from chicken and pork. Tyson Impact The margin reversal may be a blow to Springdale, Arkansas-based Tyson. Tyson is scheduled to report fiscal first-quarter earnings on Feb. Tyson and Cargill declined to comment on their beef margins.

Still, the company has highlighted improvement from the business as a reason not to sell the unit. Tyson has a goal of pushing its adjusted earnings per share up as much as 10 percent in fiscal Beef processors have endured painful times before.

Tyson and Cargill closed slaughter plants in the last several years after drought and higher feed costs forced producers to cull the national cattle herd to the smallest since the s. Things started to improve as cheaper corn and better weather allowed for expansion over the last two years.

Demand for beef products also climbed domestically and internationally. Beef Margins Tyson in November forecast beef-segment margins for fiscal would be at the upper end or above the normalized level of 1. In the prior year, the margins were 2. Now, that goal is looking tougher based on the trend at U. The number of animals held on feedlots probably fell 1 percent in December, according to a Bloomberg survey of 11 analysts. The government is scheduled to release a report on the figures on Friday.

At the same time, weak growth for U. Some consumers have moved away from red meat amid health concerns and higher retail prices over the last decade, according to a Department of Agriculture report on Sept. Booming supplies of how much money can you make as a videogame designer and pork more recently have also made the alternative proteins more competitive.

The trend for chicken has been almost the mirror opposite, with per capita consumption expected to reach USDA National Retail Beef Report: Advertised Prices for Beef at Major Retail Supermarket Outlets. Compared to last week in Beef Retail, the Feature Rate saw a slight increase of.

Retailers continue to feature roasting cuts as the weather doesn't have consumers in the grill mood just yet.

Rib, Round, and Brisket saw more ad space, while Chuck, Loin, and Ground Beef items saw less. The estimated cattle slaughter under federal inspection saw a 1. Demand for Lean Beef Adds Premium to Prices example of currency carry trade Lean, Healthy Market Cows Agriculture.

Dale Woerner, Colorado State University meat scientist, says, contrary to the perception of many ranchers, market cows have become much more than the just-get-rid-of-them by-product. Woerner has studied this cattle market segment perhaps more than anyone. For example, he says, not all of the meat from a slaughter cow goes into ground beef. Many rib, loin, and round meat cuts are sold as whole-muscle cuts, similar to steaks and roasts from fed steers and heifers.

While some cow meat gets sold and processed as whole-muscle meat, the biggest market for cull cows is still exactly what you think: Demand for that product has increased as cattle herd numbers have declined in fastest way to make money on eve online years. One lesson for ranchers is to market those animals wisely, like they are an important part of the business, says Woerner.

To do ft 100 stock market, seek out buyers who specialize in cow beef and fully reward the value. That might mean direct marketing to a packer rather than going through a sale barn. With the demand for lean cows investment plans in forex trading good condition, it still rarely pays to invest in grain feed.

Plus, Woerner continues, cull cows are not good gainers anyway. They sometimes add some quick compensatory pounds over the first 30 days of a feeding period, but after that they are very inefficient. Another point worth noting is that cull animals have much higher condemnation rates at slaughter than fed animals.

Because they are older animals that have experienced more stresses and health issues on a ranch, the risk of carcass blemishes is higher. Oriental trading fathers day says to practice BQA techniques with injections and handling of market cows. Horned animals can present an especially big issue with more likelihood of carcass bruising, trimming, fibonacci calculator stock trading value discounts.

Photo of the Week: Shootin' the Bull Weekly Analysis: In my opinion, the cattle market is near, or has completed, the first wave sequence up. It will take a new high in this rally to suggest the 5th wave of the major wave 1 is still in progress.

Until that materializes, I am in anticipation of a 3 wave zig-zag pattern, or a 5 wave sideways pattern to be the major wave 2 correction. The subtle changes have been recognized and traded to the extent of current environment.

The environment that created the price rise is being tamed some now with increasing imports, swelling cold storage, and ever increasing competing meat production. So, a time of transition is needed to curb the enthusiasm of the most recent rally and build on further changes needed to keep beef prices moving higher. The first thing a trader learns is that the only control one has is over ones self. No one can control the market. Therefore, one has to be able to control themselves.

The beef industry is the same way. No individual producer can control the market. What they can do though is control themselves in trade interceptor forex mobile apk market and that may ultimately have an impact on prices. Since the wheels of expansion are greased so well, there is little one can do to reduce this figure for months to come. So, what one can do is control the weights in which they are raised to and marketing them in a timely manner.

These are aspects producers have control over. Due to the significant discounts of price in the future, this won't be too difficult to achieve. There is no incentive to hold cattle, or grow them to any extent beyond reason. A lesson learned is, pounds may make dollars, but too many makes little cents.

I recommend to not farmers livestock auction springdale ar too excited one way or the other for a couple of months to put options on leveraged etfs. Upon completion of the anticipated major wave 2 correction, I anticipate cattle to resume a subtle up trend.

Once April goes off the board, the discounts of the back python optionparser callback example will make for instant corrections of significance on the continuation charts.

The inventory report is anticipated to impact the price of feeder cattle the most. Were there to some how not be as many cattle as first anticipated, would be a huge boost to the feeder cattle market. The chart pattern on the feeder cattle looks a little different than that of the fats.

I perceive the high made on the 20th to be an irregular wave B high. So, what this may suggest is that this current decline could be grades to be a stockbroker significant C wave decline. Programmer make money on the side ended the week softer. Bean meal remains the strongest and beans fx option straddle a close second.

Corn continues to meander and lollygag around. This leads me to perceive an intermediate wave 1 to have been completed and to anticipate an intermediate wave 2 correction. Swift is a commodity broker and consultant with Swift Trading Company in Nashville, TN. Swift authors the daily commentaries "mid day cattle comment" and "Shootin' the Bull" commentary found on his website www. You should carefully consider whether futures trading is appropriate for you in light of your investment experience, trading objectives, financial resources and other relevant circumstances.

Major Exporters Derrell S. Peel -- Oklahoma State University Extension. Global beef exports are expected to increase year over year in with growth in several major beef exporting countries supported by growing production in most cases. However, the situations trademonster vs optionshouse among beef exporting countries and market conditions will keep international markets dynamic for the foreseeable future.

Beef exports from the top four exporting countries Brazil, India, Australia and the U. Brazil and India, with roughly equal beef export totals, are projected to lead the world in beef exports in Both countries are experiencing growing production and growing international market demand and access. Brazil, which has a dominant position in European and Middle Eastern markets is seeing increased access to China as well as the U. Late inthe U. Brazilian cnbc stock market have also been boosted by forex gold future trading strategies currency weakness of the Real.

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India has also seen growing production and international demand for Indian beef, much of which is carabeef water buffalo. Recent announcements indicate that India has an agreement with China for direct access to the Chinese market. Previous Indian beef shipments to China were transshipped through other countries such as Vietnam. Australia has slipped to the number three beef exporting country as the extended herd liquidation through which resulted in temporarily higher exports in and is now resulting in reduced beef production and exports.

Low cattle inventories, combined with herd rebuilding on better forage conditions, will suppress beef production and exports in and beyond.

Australia has enjoyed expanded beef market access in China and most recently began shipping live cattle to China as well. Beef exports increased in after dropping in as production increased and beef prices dropped from record levels. Improved beef exports are projected for despite the headwind of a continued strong dollar. However, considerable uncertainty surrounds potential changes in trade policy that may accompany the Trump administration.

Renegotiating the North American Free Trade Agreement NAFTA exposes the beef industry to less favorable trade conditions while the apparent demise of the Trans-Pacific Partnership TPP will maintain restricted U.

In the fall ofChina announced a willingness to move forward with an agreement for the U. However, no agreement is world forex club review place at this time and the current status of these discussions is unclear given the political changes in the U. The next tier of beef exporting countries are significantly smaller in export volume compared to the top four beef exporting countries.

These include, in descending order based on projected exports: New Zealand, Canada, Paraguay and Uruguay. Combined beef exports from these four countries are smaller than the total of either Brazil or India.

Each of these countries is expected to maintain or expand beef exports in Mexico, with beef exports that have expanded sharply in recent years, ranks as the number ten beef exporting country just behind the European Union. Mexican beef exports are expected to continue growing in with significant expansion of Mexican feedlot and beef packing infrastructure in The majority of Mexican beef exports are imported by the U. Dollar - 6 Month Chart: A strong dollar depresses export demand.

Boxed beef cutout values weak to lower on light to moderate demand and light offerings. Select and Choice chuck, round, and loin cuts steady to weak. Choice rib cuts steady while Select firm.

Beef trimmings steady on light to moderate demand and offerings. Over the years, the value of 25 bushels of corn has been approximately equal to the price per cwt. Slaughter cows sold steady to 2. Cutter Cow Carcass Cut-Out Value Friday was Weekly Meat Production Under Federal Inspection: Total red meat production under Federal inspection for the week ending Saturday, January 28, was estimated at Department of Agriculture's Marketing Service.

Cumulative meat production for the year to date was 3. Virginia Washington - Oregon Columbia Basin. Weekly Feedstuffs Market Review: The USDA Market News Service reports feed ingredient prices for the week ending January 25, were mostly mixed. Soybean Meal was mixed 8. Cottonseed Meal was mixed Canola Meal was 3. Linseed Meal was steady to Sunflower Meal was steady to 5.

Whole Cottonseed was steady to 5. Crude Soybean Oil was 28 points lower. Crude Corn Oil was steady to 55 points lower. Ruminant Meat and Bone Meal was mixed 8. Ruminant Blood Meal was mixed Feather Meal was mixed Menhaden Fishmeal was steady. Corn Hominy was mixed 7. Gluten Feed was steady to 1. Corn Gluten Meal was steady to Distillers Dried Grain was mixed 7. Wheat Middling's were steady to Wheat millrun was steady to 1.

Ag Coalition Asks Trump to Preserve NAFTA 'Windfall' MeatingPlace. More than agricultural trade groups and companies have sent a letter to President Donald Trump asking him to modernize the North American Free Trade Agreement NAFTA in a way that expands on gains it helped the sector achieve. Among those signing the letter are Cargill Inc. Meat Export Federation USMEF. The letter notes that North American intraregional food and agricultural trade is now largely free of tariff and quota restrictions.

They get too bullish after prices have risen and too bearish after they have already fallen. Because of this tendency, there are often extremes in opinion right before major changes in trend: When the public reaches a bullish extreme, i. And when they become too bearish, then prices tend to rise. So when Public Opinion moves above the red dotted line in the chart, it means that compared to other readings over the past year, you're seeing excessive optimism.

Conversely, when Public Opinion moves below the green dotted linethen the public is excessively pessimistic about the commodity's prospects for further gains compared to their opinion over the past year. The major benchmarks reached new highs thanks to a midweek rally supported by both earnings reports and hopes for faster economic growth. The technology-heavy Nasdaq Composite Index performed best, but most of the attention was focused on the Dow Jones Industrial Average finally breaking through 20, As usual, the reports brought a range of positive surprises and disappointments, but better-than-expected earnings from several prominent firms seemed to boost sentiment.

Good results on Tuesday from DuPont helped support materials stocks, and strong reports from Boeing and Rockwell Automation on Wednesday seemed to augur well for the industrials and business services sector. An earnings miss from Alphabet Google's parent companywhich is a large component of many major indexes, took some of the momentum out of the rally Thursday, however.

It was an active week on the macroeconomic front as well, with the arrival of several important economic reports. Existing home sales fell in December, due largely to the number of homes on the market hitting its lowest level since Durable goods orders also declined in December, but rose solidly when excluding a drop in orders for defense aircraft.

On Friday, the Commerce Department announced that overall economic growth had slowed again in the fourth quarter ofwith gross domestic product GDP rising at a 1.

Consumer sentiment continued to power higher in January as Americans held optimistic views of the economy and job market. The overall survey is 7. The sub-index of current economic conditions ticked down to The expectations gauge jumped to The round was led by Fuel Capital, and also includes investments from Maveron Capital, Zulily founders Mark Vadon and Darrell Cavens, ex-NFL star Joe Montana, and several other individual investors.

Crowd Cow was founded by Joe Heitzeberg founder of Snapvine and Poppy and Ethan Lowry founder of Urbanspoon and Poppy and set itself apart from traditional butchers and grocers by giving consumers access to beef from a single steer, raised humanely by Northwest ranchers. Using crowdfunding tactics, Crowd Cow shoppers could shop for quantities they desired and have the meat shipped directly to them.

They gained the confidence to start offering additional steers from assorted ranches in just one day, and it taught them how to offer customers greater variety. During January, drier than normal weather will dominate the contiguous 48 states. Focusing on areas of dryness and drought, only northern sections of New York and Vermont are expecting over 0. Temperatures are expected to average 6 to 12 degrees above normal in the central and northern Plains, adjacent central Montana, and the upper Mississippi Valley.

In contrast, temperatures averaging 6 to 12 degrees below normal are forecast from eastern Oregon, southern Idaho, and central Colorado southward through most of the Intermountain West and Rockies. Enhanced chances for surplus precipitation exist across northern portions of the Plains and Rockies, the central and northern Intermountain West, and the West Coast. Enhanced chances for subnormal temperatures cover part of the Northwest, New England, and much of Florida.

Obviously lower prices once again stimulated buying interest as out-front buying in the day window soared. This spike in interest went a long way in cleaning up back-logged supplies and insuring some solid shipments for February.

Export sales were also good. CME Futures Rolling Over Cassie Fish Another correction is underway in CME cattle futures. Futures are in the process of correcting an overbought posture which will likely continue through next week. Nervousness over potential trade issues between the U. That unknown will loom in the background for weeks to come, regardless of the undulating rhetoric. Cattle feeders and traders are braced for a seasonal set-back while packers work hard to get the next 3-weeks of margins locked down.

Still the industry continues to kill more cattle than a year ago. A quick look back to the actual fed kill the week ended January 14, released by the USDA yesterday, showed the industry killed 35k more fed cattle that week than the same week a year ago- a well-entrenched trend now. Two-week in arrears weight data released yesterday saw steer carcass weights at pounds, even with a year ago and down 7 pounds from the prior week.

Seasonal weakness in February boxed beef prices is normal. Historically known as a month of both small kills and a weak cutout, the February low is typically the worst of it for the cutout until the third quarter. So how much break? There are multiple fundamental factors to conclude the market will retest the highs just made in March, or make new highs for the move.

Lean hog futures which have a lot more downside risk than live cattle futures since Mexico is the U. Friday trading has been inactive on very light demand in the Southern Plains and Western Cornbelt.

The last fully reported market in these regions was on Thursday. In the Southern Plains live sales sold at In the Western Cornbelt live sales sold from Thus far for Friday in the Northern Plains has seen limited trading on light demand. A few dressed sales have sold at However, not enough sales for a full market trend. Thursday was the last reported marketwith Nebraska live sales from In Colorado livesales sold at Livestock Slaughter under Federal Inspection: Compared to last week, grain and soybean were lower with wheat trading mixed.

Soybeans and corn were pressured by concerns of future export business and South American harvest, along with talks of increased acres for soybeans. Early in the week, Brazilian soybean harvest was at 3 percent complete. Export sales for corn totaled This may be viewed as neutral; however, exports for are 68 percent higher than the previous year.

For soybeans, export sales and shipments totaled Both numbers are above the amount needed to keep on pace and may be viewed as bullish. Wheat was 30 cents lower to 10 cents higher. Corn was cents lower. Sorghum was cents lower. Soybeans were cents lower. Corn futures are hinting at a potential short-term top after the March contract pushed to the highest level since August early in the week and then retreated. Price action early next week will likely determine if a short-term top is indeed in place or if the market is going to attempt another run to the upside.

Soybean futures closed mixed with quarter-cent losses in the nearbys and a 2-cent gain in the new-crop November contract. Soybean futures will likely see continued selling pressure next week. Harvest in Brazil is underway, which has traders expecting a slowdown in the U. But rains have slowed efforts and created some short-term logistics issues.

Wheat futures wrapped a downside week of trade up with renewed selling pressure. Wheat futures extended their setback from the mid-month high this week, and more steady to lower trade is likely over the near-term, especially if jitters about U.

Our goal is for the Weekly Market Summary to provide a comprehensive overview of the week's cattle market. If you have a suggestion that would enhance the summary, use the link below to submit your suggestion. If we implement it, we'll send you a Cattle Range Knife as a token of our appreciation.