Morning Livestock Report, 12/24/2015

Thursday, December 24, 2015

The cattle markets traded higher from the get go yesterday, following through on Tuesday’s cash cattle strength and ahead of another serious winter weather event on tap this weekend. This morning’s weather models seem to have moved the system a little farther south with the bulls-eye now on the TX Panhandle, where they’re expecting 12”+ amounts before tracking into Central KS and toward Minneapolis, a wide swath of cattle feeding country. On the cash cattle front, packer bids were renewed at $124 in the South yesterday, matching Tuesday’s trade, but failed to get anything bought there. We did see the Northern trade develop at mostly $200 dressed, up a sharp $16 from the averages there last week! And perhaps most impressively, the spot boxed beef markets did finally trade firmer yesterday, up a sharp $3.37 in the choice cutout and a relief for the bulls who have been counting on such a move for the past week now. Look for another firmer start this morning on a holiday-shortened trading session today.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

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