Live Cattle
Short Term: Down
Long Term: Down
Opening Calls: 20-40 Lower

Live cattle futures rebounded from new contract lows to score a key reversal in Thursdays' trade. Boxed beef prices were unchanged in the choice and off 1.53 in select cuts. Early calls look a little softer for the open, with pressure on the equity markets weighing on the meats. Weather remains non-threatening, with overall mild temps forecast over the next three months. Cattle weight from two weeks ago did not fall off as expected.

Feeder Cattle
Short Term: Down
Long Term: Down
Opening Call: 20-50 Lower

Feeder cattle futures, like the fats posted a key reversal on Thursday, which should garner some upside follow through, after todays' lower open. Thursday's rally in the corn has prices back to where we were a week ago. Overnight corn is narrowly mixed, after starting the session softer. Cash index level on the feeders was down 2.98 to 159.35 and should see additional weakness into the first part of the week.

Bret Crotts
Schwieterman Marketing, LLC