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

Thomas Elwood: Early livestock commentary

Agriculture.com Staff 09/24/2010 @ 10:04am

Cattle

Cattle trade developed at $97.00 live on Wednesday in Texas and Kansas, down $1.00 from the bulk of last week. Trade was fairly active, with volume good. Trade in Nebraska came at mostly $97.00 live as well, with dressed cattle trading at mostly $153. Both prices were down about $0.50 from last week. There could be some clean-up trade today, but we think most packers and feedlots are fairly well satisfied at this point.

The choice cutout was down $0.91 at $156.71 last night, with the select down $0.82 at $148.36. Volume was quite light for a Wednesday. Loins continued under heavy pressure. Rib cuts were mixed. End cuts remain generally well supported on seasonal demand.


Hogs

Cash hog market calls are mostly $0.50 to $1.00 lower again this morning. Hogs are gaining weight very fast with new crop corn in the feed bunks and cooler temperatures. The reduction in slaughter this week has given packers the upper hand, while weakness in the cutout is encouraging them to reduce bids.

The pork cutout lost $0.13 last night. Fresh pork was quoted as "mostly steady", though we noted an increase in the weighted averages on both bone-in and boneless loins. Butts eased a little lower on the weighted average despite reports of improved export interest. Heavy hams were quoted steady to a penny lower, with middle weight hams steady. Bellies were quoted 5 cents lower.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

And the Faces of Agriculture Winner Is... By: 05/14/2015 @ 2:54pm DES MOINES, IA – (May 14, 2015) Meredith Agrimedia today announced Ross Hutto as the winner of…

U.S. Ethanol Exports Worth $2 Billion By: 05/01/2015 @ 3:32pm By USDA/FASU.S. ethanol exports rebounded in 2014, with value and volume both up approximately 35%…

Giving Up the Farm but not the Work By: 04/24/2015 @ 1:58pm By Dr. Donald J. JonovicThe Problem: Can an older farm owner continue doing what he loves and…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
The 'A' List: Bull, Bears and Piggy Banks
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]