Cattle traded in the Panhandle and Kansas Monday afternoon at $117.00 live, down $2.00 from last week. Volume was light to moderate, and more cattle are expected to trade at some point. Asking prices on cattle left on the lists are mostly $118.00. We have not yet found any bids this morning. The north was quiet. Asking prices remain $4.00 over the June futures. Given last night's weak close, this would point to a $117.00 trade as well unless the futures break further.

The choice cutout was up $0.52 at $186.35 last night, with the select up $0.43 at $179.46. Volume was light. Buyers are still playing a waiting game as they see cattle prices coming down. Although the cutout values were higher last night, demand is lackluster. Packers reportedly come into this week with more than ample supplies in the coolers. We think the lower price of cattle this week will keep buyers on the sidelines, waiting for more discounts.

HOGS

Cash hog calls are steady to $1.00 lower this morning. Slaughter was only 275 thsd head Monday. With estimates we are hearing of only about 50 thsd head scheduled for Saturday, the kill should be well below 2 mill head this week. Packers may have finally brought their schedules in line with available numbers.

The pork cutout lost $0.51 last night. Loins were steady/weak despite the fact we are hearing of some better buying interest this week. Butts were quoted steady to a penny lower. Processing cuts did not trade on Monday. We hear hams are in good shape, though bellies remain under pressure.

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For more information or trading ideas about this market, Please contact us at (800)254-1753 or email us at sales@linngroup.com

TJE Cash trade information provided by Robin Fuller