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Beef futures higher than on-feed numbers

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Beef futures higher than on-feed numbers

On the Chicago Mercantile Exchange, live and feeder cattle were closed earlier than cattle feed reports, and boxed beef was higher during the session. Short-term numbers seem to support the price. February raw cattle closed at $ 139.62, up $ 2.25, and April raw cattle closed at $ 143.92, up $ 1.80. January feeder cows closed at $ 163.45, up $ 1.67, and March feeder cows closed at $ 163.75, up $ 1.82.

Direct cash cow trading activities have quietly ended the week of shortened holidays. The overall trade volume was small. This week’s trading is $ 135 both south and north, $ 1 to $ 3 lower than last week’s weighted average base, and $ 218 north, about $ 2 lower than last week’s weighted average base in Nebraska.

Feeder cows were lightly tested at the last sale in 2021 at the Winter Livestock Auction in Colorado. Sales of quality and good quality weaning feeders were mostly stable. USDA states that both trade and demand were moderate. Receipts decreased weekly and increased year by year. The feeder supply included 59% steers and 59% of the offerings were over £ 600. Medium and large 1 feeder steer £ 653 to $ 696 was $ 163-164.50 and feeder steer £ 761 was $ 157.75. Medium and large 1-feeder heifers were £ 573 for $ 161 and feeder heifers were £ 646 for $ 158.

At the Kansas Hay Market, prices for slow-moving alfalfa and grass hay were stable. Most producers were busy cleaning up from the storm that passed last week. The fires in the four counties burned just under 400,000 acres. Rescue activities are underway. Alfalfa, the best big square brought in a $ 225 FOB. Alfalfa, the best big square brought $ 210 and was delivered. Alfalfa, a good large round brought $ 130. In northeastern alfalfa, the largest large squares cost $ 225 and the medium squares cost $ 300. Alfalfa, Premium / Supreme Medium Square brought $ 203. Alfalfa, Premium Large Square brought $ 217. In northwestern alfalfa, the largest large squares cost $ 220 and the medium squares cost $ 255. Alfalfa, Premium Large Square brought $ 235. In Alfalfa’s South Central, the largest squares brought $ 209 to $ 225. Pellet 17% dehy resulted in $ 312.50. Alfalfa, the best big square brought $ 220. Alfalfa, Premium Large Square brought $ 198. In the southeastern part of Alfalfa, the best big square brought $ 200. Alfalfa, Premium / Best Big Square brought $ 180- $ 200. In southwestern Alfalfa, the largest squares brought $ 240.

Boxed beef closed at a high price due to strong demand for fairly light products. Choice closed $ 1.08 higher at $ 206.94 and Select closed $ 2.12 higher at $ 252.95. The selection / selection spread is $ 9.99. The estimated slaughter of cattle is 117,000, a decrease of 5,000 per week and an increase of 52,000 per year.

Lean Hog ​​futures fell prior to USDA’s Quarterly Hogs and Pigs report. The report looks price-friendly, but demand continues to affect prices. February lean meat closed at $ 83.22, down $ .12, and April pork lean closed at $ 86.65, down $ .05.

Cashhog fell in a light run by negotiation. Demand for US pork in the global market and domestically is strong, but long-term demand concerns are putting pressure on prices. Processors continue to move the desired number without having to actively engage in procurement activities. They are also looking at the availability of pigs on the market. National Daily Direct wheelbarrows and gilts closed at $ 0.56, with a base range of $ 58 to $ 65 and a weighted average of $ 60.53. The weighted average of Iowa / Minnesota was $ 61.48. The weighted average of both Western Corn Belts was $ 61.44. Due to confidentiality, the price of the Eastern Corn Belt has not been reported.

Early weaning pigs were $ 3 higher per pig, and all feeder pigs were stable and strong, according to the USDA Feeder Pig report. Demand for modest offers was moderate and the receipt included a 57% formulated price. The total combined cash range for early weaning pigs ranged from $ 54 to $ 68, with a weighted average of $ 61.24. The formula range for TotalComposite was $ 40 to $ 66.04 and the weighted average was $ 53.64. The weighted average of early weaning pigs was $ 56.33 and the weighted average of all feeder pigs was $ 76.99.

The value of pork has increased significantly, rising $ 6.80 to $ 91.47. Ham, belly, picnic, ribs, buttocks were all sharply high. The waist was firm. The estimated pig slaughter is 465,000, an increase of 7,000 per week and 180,000 per year. The pig slaughter on Wednesday was revised to 464,000.



Beef futures higher than on-feed numbers

https://brownfieldagnews.com/market-news/cattle-futures-higher-ahead-of-on-feed-numbers-5/ Beef futures higher than on-feed numbers

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