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>>> Reminder Producers<<<
Markets are changing particularly
rapidly right now with reaction
to the COVID-19 pandemic. We
are monitoring plant closures and
other factors that may affect you
and your cattle marketing.
Please stay in touch with your
Nexus livestock rep.
Cattle
•August: day 11 of a buy signal. Dec: day 4 of a buy signal. November feeders: day 16 of abuy signal.
•Cash cattle traded in volume yesterday.
•Cash in the S. Plains traded at $90-95/cwt ($95/cwt Texas), KS $94/cwt.
•Corn Belt cattle traded at $95-101.50 ($101.50/cwt IA).
•Dressed cattle was $155-160/cwt.
•Corn Belt cattle are leading the advance a positive for cattle.
•Packer break evens are $330/head in the black.
•Choice beef was down $1.47/cwt at $203.83/cwt.
•Choice beef support is at $200-205/cwt, then $190-195/cwt
•We are in the slow demand period, dog days of summer.
•Cattle typically bottom near August
•School lunch buying (or lack of) is the next demand kicker.
•COVID-19 is a demand watch.
•USC remains positive 4th quarter forward.
•Beef: Net sales of 9,500 MT reported for 2020 were down 23 percent from the previous week and 51 percent from the prior 4-week average.
Increases were primarily for Japan (2,900 MT, including decreases of 500 MT), South Korea (2,300 MT, including decreases of 500 MT), China (1,000 MT), Mexico (700 MT), and Taiwan (600 MT, including decreases of 100 MT).
Exports of 15,100 MT were up 3 percent from the previous week and 15 percent from the prior 4-week average. The destinations were primarily to South Korea (5,400 MT), Japan (4,500 MT), Taiwan (1,200 MT), Canada (1,100 MT), and Hong Kong (1,000 MT).
•Feeder Cattle Index: $130.15 vs $130.13 prior.
•Boxed beef: Choice down $1.47/cwt to $203.83, Select down $1.32/cwt to $195.52, C/S spread $8.31, 178 loads.
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