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DTN Early Word Opening Livestock 04/02 06:26

2 Apr 2020
DTN Early Word Opening Livestock 04/02 06:26 Livestock Markets Brace for Additional Losses Limit losses across all livestock markets Wednesday has brought bearish movement in the complex heading into Thursday morning. Although limited outside market support developed overnight, the concern of demand weakness for meat products weighs heavy on livestock futures. By Rick Kment DTN Analyst Cattle: Lower Futures: Lower Live Equiv $153.55 -4.17* Hogs: Lower Futures: Lower Lean Equiv $ 66.94 -2.99** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Although there still is a lot of cattle to trade in the cash cattle arena before the end of the week, the sharp losses Wednesday are expected to set the tone for the market. Light trade developed in several areas through the day Wednesday with live Southern trade falling generally $7 per cwt from last week at $112 per cwt, while dressed deals in the North are reported at $180 per cwt. This is $9 per cwt below last week's average cash price. The potential for additional futures market weakness is likely to add follow-through pressure in cash trade as the week continues. This could significantly limit the amount of cattle sold through the week. Additional sharp losses in boxed beef values midweek has started the landslide of price shifts lower as traders remain concerned of further demand erosion. As consumer buying patterns are becoming more regular after the panic buying and hoarding that pushed beef values through the roof during March, the focus on a generally shuttered food service industry and the lack of beef demand in that market space is starting to create the reality that product may continue to be backed up over the near future. Futures trade is expected mixed in light early trade Thursday with live cattle and feeder cattle having access to expanded trading limits. This would limit live cattle at $4.50 per cwt once again, while feeder cattle limit will be set at $6.75 per cwt. The strong overnight support in financial markets could help to soften the blow, but the underlying fundamental weakness in the complex continues to spark uncertainty in the complex. June futures have the potential to test long-term support and contract lows, which could spark renewed volatility though the end of the week. Thursday slaughter is expected at 119,000 head.
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USDA Daily Market Rates 04/02 06:48

2 Apr 2020
USDA Daily Market Rates 04/02 06:48 DAILY MARKET RATES(GRAIN/MISCELLANEOUS COMMODITIES) Effective: April 02, 2020 The following Market Rates are established to aid in the development of the Posted County Prices (PCPs) which are used by county Farm Services Agency (FSA) Offices for loan redemption purposes. Uses of these rates for other purposes may...

DTN Early Word Grains 04/02 05:59

2 Apr 2020
DTN Early Word Grains 04/02 05:59 Row Crops Higher, Wheat Weaker as Energy Rallies May corn is up 2 3/4 cents per bushel, May soybeans are up 1/2 cent, and May KC wheat is down 7 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is up 2 3/4 cents per bushel, May soybeans are up 1/2 cent, and May KC wheat is down 7 1...

DTN Closing Livestock Comment 04/01 16:10

1 Apr 2020
DTN Closing Livestock Comment 04/01 16:10 Futures Head Into Thursday With Expanded Limits Wednesday was a brutal trading day; all three livestock futures markets closed limit lower. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Thursday could be another tough day as pressure looms over livestock contracts and support for the board is ab...

DTN Chart Technical Points 04/01 16:30

1 Apr 2020
DTN Chart Technical Points 04/01 16:30 DTN FUTURES 10 4/01/20 SLOW STOCHASTIC PRICES ARE DECIMAL MOVING AVERAGES RSI'S 5 Day 20 Day CONTRACT CLOSE 4-Day 9-Day 18-Day 45-Day 9Day 14Day 30Day %K %D %K %D CBTWT MAY 550.25 564.94 563.56 537.65 541.33 51.20 52.81 52.19 32 51 78 86 CBTWT JUL 547.75 556.44 555.17 533.57 539.76 53.83 54.05 52.25 40 52 80 8...
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