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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 6 of a buy signal. Dec: day 8 of a sell signal. November feeders: day 11 of abuy signal.
•August cattle are now the lead month (June went off soft, following the poor cash trade).
•June cattle expected at $91.65/cwt vs $110.50/cwt last year
•NE had a light cash trade at $152-155/cwt yesterday, down $3/cwt vs last week, and cash at $95/cwt, down $1/cwt.
•Corn Belt trade was basically $155/cwt down $3/cwt on the week and cash at $95-97/cwt down $1-3/cwt.
•Product remains under pressure
•Product movement over the weekend will be key
•Choice beef was down $1.35/cwt to $206.97/cwt, support is $200-2.05/cwt.
•USC remains more positive for the 4th quarter into 2021
•Summer low should occur late July/August.
•Feeder Cattle Index: $129.42 vs $129.68 prior.
•Boxed beef: Choice down $1.39/cwt to $206.97, Select down $0.81/cwt to $199.90, C/S spread $7.07, 174 loads.
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