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Higher pork values provide a boost to hog futures


Market Information

Increased pork values present a lift to hog futures

On the Chicago Mercantile Trade, reside and feeder cattle ended the day decrease on technical promoting.  June reside cattle closed $1.05 decrease at $133.77 and August reside cattle closed $1.05 decrease at $136.02.  August feeder cattle closed $1.82 decrease at $174.37 and September feeder cattle closed $1.20 decrease at $177.45. 

A quiet Thursday for direct money cattle commerce exercise.  Whereas the majority of the week’s enterprise has possible wrapped up, there could possibly be some cleanup commerce reported earlier than the top of day Friday.  To this point this week, Southern reside commerce has been marked at principally $140, totally regular with final week’s enterprise.  Northern dressed offers had been at principally $232, regular with the majority of final week’s weighted common foundation in Nebraska.  Immediately’s Fed Cattle Trade had an providing of 1,939 head supplied, all in Texas.  Zero head offered.

On the Winter Livestock Public sale in Kansas, in comparison with final week, feeder steers 700 to 950 kilos had been $2 to $3 larger.  There was a better pattern famous for steers 950 to 1,100 kilos.  Steer calves 500 to 700 kilos had been $8 to $9 larger.  Feeder heifers 700 to 925 kilos had been $2 to $4 larger.  Heifer calves had been $4 to $6 decrease.  The USDA says demand was good.  Receipts had been down on the week and the yr.  Feeder provide included 43% steers and 89% of the providing was over 600 kilos.  Medium and Giant 1 feeder steers 917 to 942 kilos introduced $144 to $151.75 and feeder steers 900 kilos introduced $154.25.  Medium and Giant 1 feeder heifers 769 to 775 kilos introduced $143 to $147 and feeder heifers 810 to 848 kilos introduced $140.25 to $146.50. 

Boxed beef closed sharply decrease on mild demand for strong choices.  Alternative is $4.56 decrease at $255.18 and Choose is $1.87 decrease at $245.81.  The Alternative/Choose unfold is $9.37. Estimated cattle slaughter is 124,000 head – up 1,000 on the week and up 9,000 on the yr. 

Lean hog futures had been supported by the sharply larger pork values throughout the session.  June lean hogs closed $1.97 larger at $107.07 and July lean hogs closed $2.37 larger at $109.42.

Money hogs closed decrease to sharply decrease with pretty mild negotiated purchases.  There are long-term demand issues creeping into the market despite the fact that demand for US pork on the worldwide market and domestically has been comparatively sturdy.  Processors aren’t aggressive of their procurement efforts, which isn’t shocking following Wednesday’s monstrous run.  All eyes are watching the supply of market-ready hogs. Barrows and gilts on the Nationwide Each day Direct closed $4.90 decrease with a base vary of $95 to $111 and a weighted common of $103.57; the Iowa/Minnesota closed $.69 decrease with a weighted common of $110.22; the Western Corn Belt closed $.96 decrease with a weighted common of $109.86.  Costs on the Japanese Corn Belt weren’t reported as a result of confidentiality. 

Butcher hog costs on the Midwest money markets are regular at $60. 

Pork values closed larger – up $2.44 at $106.27.  Bellies closed almost $12 larger.  Ribs and hams had been each sharply larger.  Picnics had been agency.  Loins had been decrease and butts sharply decrease. Estimated hog slaughter is 478,000 head, up 2,000 on the week and down 1,000 on the yr. 





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