Livestock contracts roll into noon hour fully higher. The cash markets are mixed as cash hog prices are higher, but cash cattle prices are seeming like they may be lower again this week. May corn is up 3 3/4 cents per bushel and May soybean meal is up $0.30. The Dow Jones Industrial Average is up 617.00 points and NASDAQ is up 163.09 points.
LIVE CATTLE
Live cattle contracts trade fully higher ranging from $0.62 to $1.35 higher. April live cattle are up $0.90 at $111.05, June live cattle are up $1.32 at $104.70 and August live cattle are up $1.27 at $104.82. Despite the board trailing higher Wednesday morning, cash cattle trade is starting to develop in the South for $113, $2.00 lower than last week's weighted average. Cattle have yet to trade in the North and will most likely hold off trading until sometime Thursday or Friday.
The Fed Cattle Exchange Auction reported a total of 566 head, in three different lots (one each from Kansas, Nebraska and Texas). Asking prices were $114 on all the lots, but none sold.
Boxed beef prices aredelayed due to technical issues.
FEEDER CATTLE
Feeder cattle prices have kept their rally as noon approaches and contracts show substantial double-digit gains in nearby contracts. March feeders are up $1.60 at $135.12, April feeders are up $2.15 at $135.92 and May feeders are up $2.55 at $136.60. Despite the board being back and forth and trading on both sides of steady throughout the week, most sale barn markets have been able to market calves extremely well if they have enough come in to attract buyers.
LEAN HOGS
Higher and higher, the hog market sees higher cash prices and a higher board Wednesday morning. April lean hogs are up $1.15 at $64.70, June lean hogs are up $1.07 at $79.15 and July lean hogs are up $0.95 at $80.42. Knowing that the market is being supported from both sides of the market makes it more likely for the rally to keep its steam throughout the end of the day so long as one side doesn't weaken.
The projected lean hog index for 3/03/2020 is up $0.24 at $56.46, and the actual for 3/02/2020 is down $0.03 at $56.22. Hog prices are higher on the National Direct Morning Hog Report, up $0.75 with a weighted average of $50.75, ranging from $45.00 to $53.00 on 7,700 head sold and a five-day rolling average of $50.45. Pork cutouts total 177.21 loads with 160.93 loads of pork cuts and 16.28 loads of trim. Pork cutout values: up $0.18, $66.23.
 |
| #completeherdhealth |
No comments:
Post a Comment