***Effects from a strong storm moving through the Midwest on Monday, August 10, continue to affect Internet service, mobile phone service and electricity in areas where we work and service. We apologize for communication delays and challenges. Electric cooperatives, Internet providers and mobile phone carriers are working to restore service in the areas we serve, and places where your marketing representatives work in offices and from home because of the pandemic. We appreciate your patience as services are restored.***
•October: day 1 of a buy signal. Dec: day 1 of a buy signal. November feeders: day 10 of a buy signal.
• Live cattle turned back to an uptrend yesterday.
•Cash cattle traded at $101-$105/cwt yesterday in the South, most cattle traded at $104-105/cwt.
•Corn Belt cattle traded at $104-107/cwt, and $165-167 dressed.
•Cattle traded up $2-3/cwt this week.
•Cattle are expected to trade up $1-2/cwt again next week.
•The marketing hole psychology is here.
•Update cash cattle prices by the USDA are as follows: 3rd quarter $101/cwt, 4th quarter $104/cwt, 1stquarter 2021 $105/cwt and 2nd quarter at $105/cwt.
•$2-3/cwt rallies are market target.
•Feeder Cattle Index: $142.62 vs $142.42 prior.
•Boxed beef: Choice up $1.01/cwt to $209.09, Select up $0.97/cwt to $195.99, C/S spread $13.10, 182 loads.