Futures contracts for pigs continue the upward trend of closing the week
The future of cattle traded declining mixed with side stocks for much of the day, following the little cash exchange and the movement of the light box. Live cattle contracts closed at the end of the week. Bovine feed futures contracts were mixed with smaller ones nearby and larger ones postponed.
The direct trade in cash cattle has been quiet to close the week. Weekly business was $ 142 in the South, up $ 2 from last week’s weighted average. The Nordic clothing trade was $ 226, $ 2 more than last week’s weighted average in Nebraska.
Cut-out values of canned beef closed lower on light bids. The selection is $ 3.74 lower at $ 265.85 and the selection is $ 2.22 lower at $ 262.63. The margin of choice is $ 3.22.
At the animal auction in Douglas County, Ava, Missouri, compared to last week, feedlots under £ 700 were mostly sold for $ 6 higher. Lives over £ 700 had a steady undertone at an easy comparison. Feeding heifers were unevenly stable from $ 3 lower to $ 2 higher. The USDA says demand has been moderated for a slight supply. Revenues decreased per week, but increased per year. The supply of feeders included 52 per cent oxen and 34 per cent of the supply was over £ 600. Medium and large joys 1 feeder weighing 500 to 545 pounds brought 185 dollars to 207 dollars, and vices from 602 to 649 pounds 167.50 to 180 dollars. Medium and large feeding heifers 1 weighing 500 to 548 pounds brought $ 156 to $ 167.50, and heifers of 600 to 630 pounds brought $ 150 to $ 154.
Weak pork futures continued to gain strength following the cash business, despite a lower movement in pork.
Closed cash pigs with easy bargain purchases. Processors continue to monitor the availability of market-ready mounds and glories. Demand for US pork has been strong in the global and domestic markets, which has helped to provide some price support. However, there are concerns about long-term demand, which has put additional pressure on prices. Barrows and gilts at National Daily Direct had no comparison, but closed with a base range of $ 82 to $ 100 for a weighted average of $ 86.78. Direct regional markets were not reported due to confidentiality.
Pork prices closed at $ 6.63 to $ 109.91. Hams closed more than $ 17 below; thighs, picnics and belly are below; the ribs and bottoms are higher.
The estimated slaughter of pigs is 474,000 heads. That’s even a week and down 10,000 a year.
https://brownfieldagnews.com/market-news/hog-futures-continue-upward-trend-to-close-week/ Futures contracts for pigs continue the upward trend of closing the week