Download PDF It was more of the same this week in the hog and pork complex—porkprices rising and hog prices falling. The WCB negotiated cash hog pricefell a little over $3 on a weekly average basis, while the pork cutoutadded $6.59. That means packer margins, which had already been onthe rise, shot higher. I calculate …
Download PDF Cash cattle prices were essentially unchanged from last week,averaging $119.71 on the week. The cutouts, however, kept pushinghigher, with the Choice adding a little over $9 and the Select up about$4.60. There are many who are expecting a sharp retracement in thecutouts now that all of the Memorial Day business is wrapped up, …
Download PDF Pork packers have done a superb job of reclaiming their margin after italmost went to zero three weeks ago. They figured out that all theyneeded to do was to cut the Saturday kill down to almost nothing andsuddenly their margin began to improve. This week it stands at $11/head, which is outstanding for …
Download PDF Cash cattle traded in the $119-120 range this week, up about$1.50 from the week before. Strong gains in the futures early inthe week likely prompted packers to pay up, but the market soldoff hard on Thursday and that brought the higher cash trade to anabrupt end. Packers had plenty of extra revenue to …
Download PDF The pork cutout inched a little higher this week, adding $1.56 on aweekly average basis. In the cash hog market, the WCBnegotiateds added only $0.33/cwt, while the LHI was up $2.25.The bigger gain the LHI compared to the negotiated market reflectssome catching up that the LHI needed to do following last week’sstrong rally …
Download PDF Cash cattle traded in the $117-119 range this week, with the average coming in at $118.35—about $0.50 below last week. The beef markets kept screaming higher, with the Choice cutout gaining $11.70 and the Select up $7.56. Those increases were bigger than what I had dialed in and therefore some upward forecast revision …
Download PDF The cutout turned back higher this week, adding $3.36 on a weekly average basis. Cash hogs also moved higher, with the WCB negotiated market up $4.68. The turnaround in the cutout was helped along by some modest improvement in belly prices, which had been a source of softness over the last couple of …
