>>> 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 8 of a buy signal. Dec: day 1 of a buy signal. November feeders: day 13 of a buy signal.
•Trade last week $92-95/cwt in the south, north $95-97/cwt live, $153-155/cwt dressed.
•Choice beef is in the support zone of $200-205/cwt
•Cash cattle called steady this week
•Packer break evens are at $300/head
•Kill last week was 600,000 head, kill this week is estimated at 670,000 head.
•June cattle expired at $92/cwt vs $111/cwt last year
•Seasonal lows are typically late July/early August
•Market is working through excess supplies
•Supplies should tighten in the 4th quarter (lower placements)
•USC remains positive into 2021 on cattle.
•Feeder Cattle Index: $129.05 vs $129.13 prior.
•Boxed beef: Choice up $0.06/cwt to $205.44, Select up $0.33/cwt to $198.76, C/S spread $6.68, 156 loads.
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