>>> 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 9 of a buy signal. Dec: day 2 of a buy signal. November feeders: day 14 of abuy signal.
•Cash cattle traded in the Southern Plains (small volume) at $93-95/cwt.
•IA/NE traded a few cattle at $160/cwt
•Packer margins are roughly $300/head in the black
•Product has found support at $205/cwt
•Funds as of Tuesday are long 17,621 contracts, up 54 contracts, feeder cattle are long 1,953 contracts, up 955 contracts.
•Cattle are nearing the 1st level of a counter trend overbought sell zone.
•USC remains more bullish the 4th quarter into 2021.
•Feeder Cattle Index: $129.98 vs $129.88 prior.
•Boxed beef: Choice up $0.02/cwt to $205.46, Select down $1.79/cwt to $196.97, C/S spread $8.49, 156 loads.
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