Pork Wrap January 28
Download PDF The pork cutout continued its upward momentum this week, adding$3.43 to average $95.46. Retail items, and in particular the loins,were the big driver of this week’s gains, along with some help fromthe bellies. That fits with the idea that surging covid infectionswould force consumers back into stay-at-home mode and drivestrong demand at retail. …
Beef Wrap January 28
Download PDF Cash cattle traded steady to slightly lower this week, averaging$136.93, which was $0.57 below last week’s average. Packerscouldn’t get too excited about buying cattle because the cutouts wereon the defensive for most of the week. However, both cutouts posteda rally on Friday that erased losses from earlier in the week. On aweekly average …
Pork Wrap January 21
Download PDF This week the pork cutout finally got enough traction to move abovethe $90 mark. For the week, it was up $4.66 to average $92.03.Hams were the primary drivers, with a little assistance from the loinsand bellies. Last week I noted that the hams had gotten ridiculouslycheap and would likely attract some buying attention. …
Beef Wrap January 21
Download PDF The cash cattle market averaged $137.39 this week, up about $0.78from last week’s average. Packers bought more this week thanthey did last week, so perhaps that signals growing confidence thatthey will have enough labor to move kills higher next week. Bothcutouts gained about $10/cwt this week, but by Friday they wereshowing signs of …