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

Thomas Elwood: Early livestock comments

Agriculture.com Staff 12/02/2010 @ 8:26am

The cattle market is expected to be quiet again today after good numbers traded on Tuesday. There was a small trade of cattle in Kansas at $103.00-103.50 live on Wednesday, at the top of Tuesday's range. Asking prices are generally $104.00 live in Kansas. Asking prices on cattle left on the lists in the Panhandle are $105.00-$106.00. We cannot find any bids at this time.

The choice cutout was up $0.30 at $162.85 last night, with the select up $1.28 at $153.06. Volume was the best for a Wednesday since early October. We hear retail buyers have been aggressively booking meat for the holiday week at the end of this month and the first week in January. Middle meats continue to be well supported and are providing the bulk of the increase in the cutout values.

packers are having an easy time getting covered. The only thing really holding up bids in recent days has been the exceptional margins.

The pork cutout lost another $1.30 last night on continued weakness in fresh cuts. Loins were quoted 4 cents lower, and butts were steady to 2 cents lower. Even ribs lost ground and were 4 cents lower on the weighted average. Heavy hams were quoted steady; the lighter weights remained untraded. Bellies were unquoted again. That market reportedly traded about steady to

freezers.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

A Bare-Bones Beginning By: 04/08/2014 @ 1:12pm After meeting as college freshmen a decade ago, Jay and Krista Reiser soon found they shared a…

USDA’s Corn Acreage Figure Likely Too Low… By: 04/07/2014 @ 8:36am The nation’s farmers may wind up planting nearly 2 million additional acres to corn than the…

Favorable Summer, Record Crops Ahead By: 04/03/2014 @ 9:00pm Midwest farmers, emerging from one of the coldest winters on record, can look forward to a “very…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Big Picture: CME Trading Weather