Pork Wrap November 03
Download PDF The biggest surprise in the hog and pork complex this week was the failure of the cutout to decline. We have become accustomed to weekly $1-3 declines in the cutout this fall, but this week the cutout actually averaged $0.13/cwt. higher than the week before. The big driver of this change in direction …
Beef Wrap November 03
Download PDF Cash cattle trade was slow to develop this week and as of press time, packers and feeders in the Southern Plains remained in a standoff. Some light trade did occur in the North, with reported prices at mostly $185, which was steady with the week before. It was widely expected that cash trade …
Pork Wrap October 27
Download PDF Compared to the cattle complex, the hog and pork complex was relatively sedate this week. The cutout drifted $1.79/cwt. lower on a weekly average basis and the WCB negotiated cash hog market averaged $1.12/cwt. lower. As a result, packer margins held pretty close to last week at $13/head. With production approaching its annual …
Beef Wrap October 27
Download PDF This week was highlighted by a massive selloff in cattle futures. On Monday, the Dec LC contract fell below its 100-day moving average and that triggered a wave of selling that took most of the curve down $5-6/cwt. The initial impetus for the selling was the previous Friday’s Cattle on Feed report which …