Download PDF After bursting higher last week, prices in the hog and pork complex took a breather this week. The cutout dropped $0.20/cwt. on its way to averaging $100.55 and the WCB negotiated market was down $0.77/cwt. to average $89.15. However, for some strange reason, the front end of the lean hog futures curve posted …
Download PDF Prices in the cattle and beef complex slipped lower again this week, with the Choice cutout dropping $2.84/cwt. on a weekly average basis and the Select cutout losing $6.38/cwt. Cash cattle markets were mostly lower also and it looks like the 5-area weighted average will ring in somewhere close to $182.50, down about …
Download PDF The hog and pork complex got pumped up this week, just in time for the Apr futures expiration. The cutout gained $3.85/cwt. on a weekly average basis in moving to $100.76 and the WCB negotiated spot market added $4.54/cwt. on its way to averaging $89.93. As a result, the LHI surged higher, up …
Download PDF Cash cattle traded lower again this week, with the average live price expected to come in around $183.80/cwt., down a little over $2 from the week before. The cutouts were also lower, but not by much, as the Choice averaged $300.27 on the week, down $0.84 and the Select averaged $297.38, down $0.31. …
Download PDF Cash hog prices jumped this week and it could be a sign that near-term hog supplies are already starting to tighten up. The WCB negotiated market added $5.01 to average $85.39. The cutout also saw good gains, adding $2.25/cwt on a weekly average basis. Most of the gains came later in the week …
Download PDF The beef market hit a bit of an air pocket this week, with the Choice cutout dropping $8.02/cwt. to average $301.10 and the Select cutout losing $3.36/cwt. to average $297.69. Apparently, it is just too early for spring demand improvements to take hold. The northern section of the country experienced colder-than-normal temperatures and …
Download PDF The pork cutout gained a little more traction this week, increasing $1.83/cwt. to average $94.66 for the week. Negotiated cash hog prices were more sluggish, with the WCB only gaining $0.10 on a weekly average basis. That helped add a couple of dollars back on packer margins, which now stand at just under …
Download PDF The big event this week in the cattle and beef complex was a large sell-off in the futures that occurred on Tuesday. On that day, most active Jun finished down $3.22/cwt. No one seemed to be quite sure what triggered the selling. Long-time fundamental bears were sure that this was signaling the imminent …
Download PDF The pork cutout struggled a little this week, averaging $92.83, $0.10/cwt. lower than the week before. As expected, the cutout’s problem was caused by further deterioration in the value of the ham primal. Bellies were nearly unchanged on the week. The good news is that the retail items, and in particular the loins, …
Download PDF Beef packers managed to keep beef prices moving higher this week, with the Choice cutout adding $2.49/cwt. on a weekly average basis and the Select cutout gaining $2.10/cwt. However, by the end of the week the cutouts were showing some signs of fatigue. Cattle feeders managed to wrangle another $2+ gain in the …