Pig futures mix for the weekend
On the Chicago Mercantile Exchange, live cattle closed at near high prices in spread trades, and feeder cows closed at high prices with oversold signals. Live cattle in June closed at $ 117.57, up $ 0.17, and live cattle in August closed at $ 118.55, up $ 0.27. August feeding cattle closed at $ 148.40, up $ 0.12, and September feeding cattle closed at $ 150.90, up $ 0.15.
There was a very light and scattered direct cash cow trade on Thursday. Dress trading ranged from $ 190 to $ 191. Most of this week’s work is likely to be done, but cleaning deals could come in little by little before the end of Friday’s day. So far this week, live trading in the South has been marked at $ 118- $ 120, much like last week’s trading. Trading in Northern Dresses ranged from $ 189 to $ 196, mostly between $ 190 and $ 191, and was generally stable in last week’s business.
Feeder cattle were $ 2-4 cheaper than last week at the Springfield Livestock Market in Missouri. Feeder heifers were consistently $ 3 higher. The USDA states that supply is moderate and demand is good. Receipts increased week and year. The feeder supply included 42% of steers, 43% of which were over £ 600. Medium and large 1-feeder steer 500-545 pounds were $ 155-166 and 562-577 pounds feeder steering was $ 158-162. Medium and large 1-feeder heifers 503 to 546 pounds were $ 133.50 to $ 145, and feeder heifers 601-647 pounds were $ 126 to 138.
Boxed beef was closed with a mixture of medium to strong demand for medium-sized products. The option closed at $ 338.25, down $ 0.40 and the option closed at $ 310.40, up $ 2.53. The Choice / Select spread is $ 27.85. The estimated number of slaughtered animals is 121,000, an increase of 1,000 per week and 5,000 per year.
Lean Hogg futures ended the day under the influence of spread adjustments. Red pigs in June closed at $ 122.45, up $ 0.50, and lean pigs in July closed at $ 121.32, down $ 0.17.
As a result of solid negotiations, the cash surge has lifted the day significantly, and has made it rise significantly. Packers are active in procurement efforts and are bidding to increase the number they want. Demand for US pork is strong both in the global market and domestically, which greatly supports the price. The industry expects that to continue. However, in the event of confusion, prices can fall. Burroughs and Gold of National Daily Direct closed at $ 4.72 higher, with a base range of $ 101.80-132 and a weighted average of $ 119.78. Iowa / Minnesota closed at $ 0.80 higher, with a weighted average of $ 124.66. The Western Corn Belt was $ 1.78 higher and the weighted average closed at $ 125.10. There was no comparison for the Eastern Corn Belt, but the weighted average was $ 108.89.
Butcher pig prices in the Midwestern physical market are stable at $ 75. In Illinois, the price of slaughtered sows was stable, with moderate demand for modest sales of $ 38 to $ 49. Handrails and gold leaf prices were strong, with demand for medium to heavy commodities moderate to good, ranging from $ 75-80. Wild boars ranged from $ 45 to $ 50 and $ 12 to $ 18.
Pork prices closed at $ 134.05, down $ 0.33. Rib dropped $ 20 on Thursday. The price of ham has also dropped significantly. The waist, belly, picnic, and buttocks are higher. The estimated number of slaughtered animals is 482,000, an increase of 12,000 per week and 47,000 per year.
https://brownfieldagnews.com/market-news/hog-futures-head-into-the-end-of-the-week-mixed-2/ Pork futures mix for the weekend