Home / Markets / Markets Analysis / Beef market / Thomas Elwood: Early livestock comments

Thomas Elwood: Early livestock comments

Agriculture.com Staff 10/29/2010 @ 8:40am

Light cattle trade was reported in Nebraska on Thursday at $156 to mostly $157 dressed. Texas and Kansas both saw additional cattle trade at $100.00 live, steady with Wednesday's trade. Depending on how many cattle ended up trading in Nebraska late on Thursday, activity could be over for the week. Packers bought large enough numbers last week that they didn't need to buy that many this week.

The choice cutout was up $0.89 at $162.26 last night, with the select down $0.59 at $153.96. Volume was extremely light again. We think packers will be forced into more aggressive discounting to move meat for quick ship since demand remains very sluggish. Keep in mind that retailers' attention turn to turkey during November and the beef often languishes as a result.

Cash hog bids are expected to be steady to mostly lower today, with a lot of bids $1.00 lower again. The industry isn't making any progress on the backlog and sources report that numbers for next week are bigger than they were for this week.

The pork cutout rebounded $0.82 last night despite persistent weakness in many cuts. Loins were quoted steady/weak. Butts were generally steady. Heavier hams managed to hold a steady tone, though sources expect more discounting to develop without additional export demand. Bellies were unquoted.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

Cornfield's Cool Block "O"… By: 07/29/2015 @ 8:59am LONDON, Ohio -- A cornfield west of Columbus is showing some Buckeye pride with an unmistakable…

Plan Ahead to Avoid Weather Marketing Woes By: 06/22/2015 @ 7:26pm By Cathy EkstrandThis is a year the market is assuming large yield guestimates and colossal acre…

First-Ever Real Tough Winner By: 05/29/2015 @ 11:42am Meredith Agrimedia in partnership with Yamaha Motor Corporation, U.S.A., has announced Shavalerie…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cover Crops-Cost
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]