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Ag News Details

Cattle on Feed Preview

By Rick Kment
DTN Livestock Analyst

OMAHA (DTN) -- Little significant change is expected in the Cattle on Feed report Friday with current estimates pegging total animals on feed at 99.7% of year-ago levels. The expected 4% reduction in cattle placements through February will likely be the main focus of the report and pre-report adjustments. These numbers appear to have already been partially factored into the market given the strong market shifts over the last two weeks.

USDA Pre-report Estimates
Actual Avg Low High
On feed March 1 99.7 99.0 100.6
On feed February 1
Placed on feed during February 96.0 92.2 101.5
Fed cattle marketed during February 100.8 99.7 101.3

Rick Kment can be reached at rick.kment@dtn.com

(KM/CZ)

Wheat Commentary

No daily commentary available

Other Commentary

Good evening May corn finished up ¼ of a cent, May beans up 2 cents, and May wheat up 8 1/4 cents. Dovish comments by the Fed were the biggest news around the trade today. The weaker dollar helped wheat find some more support that created some buying that spilled over into corn and beans. Headlines about a trade deal coming along nicely according to President Trump didn’t bring out buyers. The news is old and the market is tired of it. Today was the 7th consecutive day with no daily export sale announced and the bearish impact seemed to be limited due to the rally in wheat. According to Reuters the US producer has found some company in the Argentine farmer who is not marketing what is expected to be a 55MMT soybean crop because the Chicago board is too low. Managed money shorts, no export announcements, and delays regarding the trade deal are weighing on prices and farmers continue holding out for good (read bullish) news.
Quotes, news, weather & polling services by Telvent/DTN.  Market data delayed at least 10 minutes.  Futures quotes source: ICE, MGEX & CME Group.