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Thomas Elwood: Early livestock commentary

Agriculture.com Staff 08/24/2010 @ 8:41am

Showlists are mixed, but unchanged overall.  Areas with increased numbers on the lists report the 

bigger list is due to hopes of high prices rather than a genuine need to put the cattle on the list.  Cattle 

are quite green at this point.  Asking prices are all over the board this week.  While Kansas and 

Nebraska seem to be fairly consistent in asking $102 live and $162 dressed, asking prices in Texas range 

all the way up to $104 live.  Some feedlots are not even pricing cattle, and want the packer to come to 

them.  As far as packers go, they are laying low for the moment.  We have not yet found any bids and it 

may be Wednesday before we do. 

- The choice cutout was up $1.16 at $162.93 last night, with the select up $1.45 at $156.08. Volume was 

limited even for a Monday.  Retail clearance over the weekend was rated just moderate.  Retail buyers 

remain relatively short bought, however, and export demand is strong according to industry sources.   

That is reportedly enough to keep packer inventories fairly clean for the moment despite increased 

production over the past couple of weeks. 


HOGS

Cash hog market calls are steady/weak this morning, with some bids once again as much as $1.00 

lower.  Hog runs have picked up and most packers are already done buying for this week despite a jump 

in slaughter to the 2.1 mill head level. 

The pork cutout gained $0.18 last night.  Loins were quoted steady.  Butts were 3 cents lower on 

increased availability with the rising production.  Hams were quoted a penny higher on strong export 

demand.  Bellies were steady.

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