Download PDF Packers slashed the kill last week in hopes of correcting their dismal margin situation and it worked to a small degree. The Choice cutout gained $4.68/cwt. on a weekly average basis and the Select cutout added $5.89/cwt. That was just a little more of an increase than was needed to cover the cost …
Download PDF It was a trifecta week in the US hog and pork complex—the negotiated markets move up a little over $3, the LHI gained a little over $3 and the pork cutout moved $3.49 higher on a weekly average basis. The only one that didn’t join the “three club” was the nearby LH futures, …
Download PDF This week when the futures market turned suddenly lower on Thursday, cattle feeders didn’t take the bait and continued to hold out until Friday. That netted them a nice $3 increase in the live market to $183 and a $4-5 increase in the dressed markets. If you recall, in the week prior three …
Download PDF Cattle futures started the week with a negative tone, posting losses for the first three days. Packers seized on the opportunity and began bidding $178 on Tuesday. By Wednesday, they raised bids to $180 and found cattle feeders to be willing sellers at $2 under the previous week’s price. Once the cash market …
Download PDF The hog and pork complex resumed its upward push this week as the cutout gained $2.36 to average $88.39/cwt. and the WCB negotiated market added $3.47 on a weekly average basis. Friday afternoon, the cutout broke above the $90 level for the first time since early October. That helped to inspire confidence in …
Download PDF Bellies dragged the cutout lower again this week as the primal value fell almost $16/cwt. to average $127.09. That was a sharp reversal after six weeks of increases. Even though some other parts of the carcass posted gains, that wasn’t enough to keep the cutout from losing $2.40/cwt. on a weekly average basis. …
Download PDF Cattle feeders held out until late on Friday and were rewarded with cash prices that were close to $4/cwt. higher. Trade in the Southern Plains developed at $182 and in the northern dressed market there were reports of cattle changing hands at $287-290, up $7-10/cwt from the previous week’s average. If there was …
Download PDF Pork packing margins are shrinking rapidly, dropping from $37/head two weeks ago to $27/head this week. The problem for packers is that hog prices are rising while the cutout remains stuck in the upper 80s. This week the WCB negotiated base price added $9.58/cwt. on a weekly average basis, while the pork cutout …
Download PDF Two things became more apparent this week: the weather event in early January set cattle back more than previously thought and packers still remain short on inventory to fuel kills in early February. The confluence of those things helped to boost the cash cattle market $2-4 over last week’s prices. Trade in the …
