Beef Wrap July 1
Download PDF The beef packer’s woes continued to mount this week as thecutouts eased lower again while the cash cattle market advanced.The Choice cutout dropped $0.35 on the week and the Selectcutout was down $3.73. At the same time, the cash cattle marketaveraged almost $1.50 higher, with the weighted average comingin at $146.10. There was …
Pork Wrap July 1
Download PDF The hog and pork complex eased a bit this week as the cutoutdropped $3.36/cwt on a weekly average basis and the WCBnegotiated hog market was down $1.15/cwt. The LHI, which lagsthe other markets, was actually up about $0.30/cwt on the week.I think most of the easing in the negotiated markets can beattributed to …
Pork Wrap June 24
Download PDF Things continued on an upward trajectory this week in the hog and porkcomplex as the negotiated hog markets averaged about $2.50/cwthigher and the cutout managed to eeek out a $0.80 gain. The notableevent of the week was a sharp drop in the futures on Thursday withoutany significant change in the fundamentals. The Jul …
Beef Wrap June 24
Download PDF Beef packers’ margin situation got a little more precarious this week as thecutouts turned lower yet cash cattle continued higher. On a weekly averagebasis, the Choice cutout lost $2.27/cwt and the Select was down $0.56/cwt.Thus it looks like the rally in boxes that began in mid-May has now run itscourse. The attached chart …
Pork Wrap June 17
Download PDF The hog and pork complex continued to work higher this week, andit definitely felt like a lot of work. The NDD negotiated market wasup $1.48/cwt through Thursday and the cutout was up $1.43/cwt.Traders got a bit of a scare on Wednesday when the belly primalprinted sharply lower, but it bounced back on Thursday, …
Beef Wrap June 17
Download PDF The cash cattle market surprised observers again this week by trading almost $4 higher to average just north of $144. Once again, trade in the North occurred at a significant premium to prices paid in the South. For months now, we have been watching feedyard inventories grow and the consensus of many was …