Futures contracts for cattle supported by lower maize
At the Chicago Mercantile Exchange, live and feeding cattle ended the day above, with the feeders leading the way on the lower cornfield. April cattle closed at $ 0.55 higher at $ 146.90. Feeding cattle for March closed at $ 1.85 higher at $ 168.72.
It was another slow day for the direct trade of cash cattle. An offer came to the surface at $ 223 clothed, however, the rest of the cattle country was quiet. Prices in the South ranged from $ 142 to $ 143 plus live, while the North did not disclose. Look for a significant volume of transactions to grow in the balance of the week.
At the Callaway animal auction in Missouri, compared to two weeks ago, the 450 to 600 pound calves were mostly 10 to 15 dollars higher, 18 dollars higher. Boes weighing between 600 and 800 pounds were $ 3 to $ 7 higher. Feeding heifers of 400 to 500 pounds sold with much higher undertones. Feeding heifers of 500 to 600 pounds were $ 12 to $ 20 higher. The USDA says demand has been very good for a moderate to heavy supply. The quality was deep and the high quality calves were sold on very good demand. Buyers have been aggressive, especially with the calves going to the grass. Revenues increased from two weeks ago. The supply of the feeder included 56% oxen and 58% of the supply was over 600 pounds. Medium and large 1 feeder 656 to 698 pound feeds brought in $ 169 to $ 177, and those from 700 to 728 pounds brought in $ 167 to $ 173.25. Medium and large feed heifers 1 from 618 to 639 pounds brought $ 161.25 to $ 164, and feed heifers from 660 to 692 pounds brought $ 150 to $ 156.50.
Canned beef suddenly closed lower and lower due to the slight demand for solid offers. Choice closed at $ 3.59 below $ 270.37 and Select closed at $ 0.93 below $ 267.82. The margin of choice is $ 2.55. It is estimated that the slaughter of cattle is 123,000 head – with 1,000 increasing per week and 31,000 increasing per year.
Weak pork futures ended the day above, backed by higher noon pork and commercial buying. Weak April pigs closed at $ 1.82 higher at $ 104.15.
Cash hogs closed above with a big negotiation. Processors are bidding to move their desired numbers on Tuesday in a very aggressive manner. The industry continues to monitor the availability of market-ready pigs. US pork demand in the global market remains strong. However, there are long-term demand concerns that range from rising prices to concerns about product availability and sustained demand. National Daily Direct barrows and gilts closed at $ 2.90 higher, with a base range of $ 78 to $ 97 and a weighted average of $ 89.41, and Western Corn Belt closed at $ 4.22 USD more with a weighted average of $ 95.93. Prices in Iowa / Minnesota and Eastern Corn Belt were not reported due to privacy.
Butcher pig prices in the Midwest cash markets are constant at $ 60. In Illinois, slaughter sow prices were $ 2 higher, with moderate demand for moderate bids ranging from $ 52 to $ 63. Barrow and gold prices were $ 2 higher, with moderate demand for moderate bids ranging from $ 54 to $ 60. Wild boars ranged from $ 27 to $ 32 and from $ 13 to $ 17.
Pork prices closed at $ 1.26 to $ 106.72. Picnics, hams and thighs were smaller. The ribs, buttocks and belly were all higher. The estimated slaughter of pigs is 478,000 heads – up from 6,000 per week and up from 69,000 per year.
https://brownfieldagnews.com/market-news/cattle-futures-supported-by-lower-corn/ Futures contracts for cattle supported by lower maize