Market Commentary from the Northern Ag Network: Live issues settled mostly lower with only spot June finishing in the green.
Prices ranged from 35 higher to 32 lower. Yet the bigger story was tied to the way the board reversed from triple-digit losses suffered early in the session. Indeed, most contracts closed more than points above the lows of the day.
It remains to be seen whether or not such action represents significant bottom-picking activity. WEDNESDAY'S CASH CATTLE CALL: Cash trading could at least get started at midweek, perhaps sparked by FCE results the internet auction has experience technical difficulties in recent weeks, but is said to be returning to its old, more reliable format Wednesday.
Settlements could have been worse here as well. Even though feeder issues closed off as much as 95 to , August through November did seem to have decent success attracting new buying interest under CME cash feeder index: Settlements on all Ag Futures and Options Futures Quotes — Montana Market Manager — AgriCharts.
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Northern Ag Out on the Trail Photo Galleries Contests Historic Photos. Northern Ag Network talked with Superior representatives from Montana who Lean hog contracts closed sharply higher, supported by bullish fundamentals and early week short-covering.
The cattle complex slumped significantly lower, hammered by long liquidation and technical selling. FEEDER CATTLE Settlements could have been worse here as well.
Strong price support has quickly moved into livestock trade despite a sluggish start. Live and feeder futures exploded higher with most months settling at new contract highs. Your browser does not support inline frames.
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