Feedlots have come into the week fairly bullish as cattle numbers are maintained at tight levels. Asking prices in the south are mostly $125.00. Some feedlots in Nebraska are reportedly planning to hold for $130.00 live this week, though many have cattle priced at $128.00 as of last night's close on futures. Numbers in the north are considerably tighter than in the south. There are no bids yet. Both sides will watch the board and beef closely as the week progresses.

The choice cutout was up $1.90 at $191.68 last night, with the select up $2.00 at $187.20. Volume was a bit light, but we hear that interest in middle meats is ramping up this week. All major primals were higher last night. Hamburger demand also is strong, and that is supporting end cuts.

HOGS

Cash hog calls are mostly steady this morning as packers had a change of heart overnight due to deteriorating margins. Calls yesterday afternoon had been for the market to be firm, but the poor margin situation has led to some cutbacks in slaughter into the weekend. Some estimates for Saturday slaughter are as low as 30,000 head compared to 59,000 head last Saturday. Weekday slaughter may be reduced as well. This should put a temporary cap on the rally.

The pork cutout gained $0.18 last night. Loins were steady to 2 cents lower on continued lackluster demand. Butts rallied 3-6 cents and averaged back up over $1.20 again. Hams were steady to 2 cents lower as Easter processing comes to an end. Further discounts are expected as the week progresses, though the reductions planned in slaughter should help the market hold the 80 cent area. Bellies remain unquoted and very tight.

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TJE Cash trade information provided by Robin Fuller