Pork Wrap December 31
Download PDF The hog and pork complex remained stuck in neutral for yet anotherweek. The WCB cash market averaged $0.25 lower on the week,while NDD cash market posted a $0.94 gain. The cutout managed$0.33 higher on a weekly average basis. As a result, the LHI wasalmost unchanged on the week, averaging $71.93. It feels likeparticipants …
Beef Wrap December 31
Download PDF The cash cattle market bolted higher this week, averaging $139.88,up a little over $4 from last week’s average. Packer inventories wererunning low after two weeks of very light purchases and they neededto restock ahead of next week’s return to a full slaughter schedule.Beef markets also turned a bit higher, with the Choice cutout …
Pork Wrap December 24
Download PDF The hog and pork complex experienced another steady week. Thenegotiated markets were essentially unchanged from the week beforeand the cutout averaged $0.65 lower than the week before. In themidst of this uneventful week in the cash markets, the Feb futuressaw fit to rally almost $2.50 and is now trading close to $12 over …
Beef Wrap December 24
Download PDF The cash cattle market declined again this week, dropping about$1.50 to average $135.55. The cutouts stabilized, with the Choicenearly unchanged on a weekly average basis and the Select up about$2. That allowed packer margins to increase modestly, now at $377/head. Analysts are watching the COVID situation closely in the USas the virus seems …
Pork Wrap December 17
Download PDF The Dec LH futures cash settled on Tuesday to a LHI of $72.30. At theend of the week, the LHI was still very close to that level. The Febfutures, which are now the nearby, moved lower the first three days ofthe week, but then rebounded on Thursday and Friday to finish theweek almost …
Beef Wrap December 17
Download PDF The cash cattle market continued on its lower trajectory this week,down a little over $2 to average $137.18. Packers appear to havebought less cattle this week than last and only about half as many asthey bought during the week following Thanksgiving when pricespeaked at $140.50. The beef market also continued its march lowerwith …
Pork Wrap December 10
Download PDF 2020 and 2019 the cutout hit a flat spot from late November intoearly December before turning lower in the last few weeks of theyear. I suspect that we will witness a similar pattern this year too.The fact that the negotiated hog markets have moved higher inthe past couple of weeks has given hope …
Beef Wrap December 10
Download PDF The cash cattle market finally took a breather this week. It looks likelive prices will average around $139.50, which is down about $1 fromlast week’s average. Beef markets remained under pressure, withthe Choice cutout dropping $6.42 on a weekly average basis and theSelect down $5.33. Packer margins compressed further, losingalmost $100/head to average …
