Download PDF The pork cutout continued its upward momentum this week, adding$3.43 to average $95.46. Retail items, and in particular the loins,were the big driver of this week’s gains, along with some help fromthe bellies. That fits with the idea that surging covid infectionswould force consumers back into stay-at-home mode and drivestrong demand at retail. …
Download PDF This week the pork cutout finally got enough traction to move abovethe $90 mark. For the week, it was up $4.66 to average $92.03.Hams were the primary drivers, with a little assistance from the loinsand bellies. Last week I noted that the hams had gotten ridiculouslycheap and would likely attract some buying attention. …
Download PDF I could say that this was yet another week where the pork cutout wentnowhere since it averaged $87.37, only $0.80 higher than last week’saverage. However, that would ignore the wild day-to-day volatility wesaw. On Tuesday, the cutout finished at $81.62 and on Thursday itclosed at $95.28. Needless to say, Thursday was a big …
Download PDF It was yet another week with the pork cutout going nowhere. It averaged$86.57, down $0.64 from last week’s average. One thing that did change this week was the price of cash hogs. The WCB negotiated market was up almost $6 and the NDD market gained a little over $4.50. It was somewhat curious …
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 …
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 …
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 …
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 …
Download PDF On a weekly average basis, the pork cutout was essentiallyunchanged this week, but Friday-to-Friday it was down $2.61.Cash hogs rallied strongly this week, with the WCB negotiatedmarket gaining over $9 and the NDD market up nearly $7 Fridayto-Friday. Of course this begs the question as to why packerswould be paying so much more …
Download PDF The hog and pork complex has remained on a downward trajectory inrecent days. The pork cutout has lost almost $10 over the past seventrading days and the NDD cash hog market is down $2.60 over thesame period. Futures traders have remained optimistic that aturnaround is coming as the nearby Dec LH contract dropped …