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Cattle futures fall in mid-week

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Cattle futures fall in mid-week

The Chicago Mercantile Exchange has monitored the development of direct trading to reduce live and feeding cattle. August raw cattle closed at $ 134.92, down $ 1.32, and October raw cattle closed at $ 141.07, down $ 1.22. The feeder cow in August closed at $ 173.15, down $ 2.15, and the feeder cow in September closed at $ 175.30, down $ 1.97.

It was a pretty active day for the direct cash cow business. Live trading in the South was $ 138, about $ 2 below last week’s weighted average. Bids surfaced live at $ 145 and wearing Nebraska for $ 230- $ 237. Suggested prices ranged from $ 140 to $ 142 in the south and over $ 240 in the north. More business is expected to grow during the rest of the week.

At the Macalester Union Livestock Auction in Oklahoma, calves under £ 400 were $ 10 higher and calves over £ 400 were $ 1 to $ 3 lower than last week. Heifers were $ 5 to $ 8 higher. According to USDA, the quality was attractive and average and the demand was good. Receipts increased weekly and yearly. The feeder supply included 42% steers and 16% of the offerings were over £ 600. Medium and Large 1 Feeder Steer 450-494 pounds brought $ 177- $ 191 and Feeder Steer 553-598 pounds brought $ 170- $ 184. Medium and large 1-feeder heifers 450-498 pounds were $ 162-175 and feeder heifers 500-549 pounds were $ 159-174.

Boxed beef fell due to low demand for solid products. Choice lowered $ .99 to $ 266.57 and Select closed $ .71 to $ 245.99. The selection / selection spread is $ 20.58. The estimated slaughter of cattle is 126,000, an increase of 10,000 per week and 10,000 per year.

Pork lean meat futures ended this day with little uncertainty in demand. July lean meat closed at $ 111.85, down $ .87, and August pork lean meat closed at $ 108.32, down $ 1.47.

Cashhogs rose significantly with a big negotiated run. Processors are active in procurement efforts and bid to move the desired number on Wednesday. Demand for US pork is strong and supports prices. The industry continues to monitor the availability of pigs for the market. National Daily Direct wheelbarrows and gilts closed at $ 3.46 higher with a base range of $ 110 to $ 125.75 and a weighted average of $ 122.45. Iowa / Minnesota was up $ 1.61 with a weighted average of $ 124.35. The Western Corn Belt closed at a weighted average of $ 124.22, up $ 1.40. Due to confidentiality, the Eastern Corn Belt was not reported.

Butcher pig prices in the Midwestern cash market are stable at $ 76. In Illinois, sows for slaughter were priced $ 1 lower, and demand for lighter products ranged from $ 41 to $ 53. Barrows and gold leaf were stable, with demand for light products ranging from $ 71 to $ 80. Wild boars ranged from $ 45 to $ 50 and $ 10 to $ 15.

Pork prices closed higher – up $ .29 at $ 111.15. The belly, buttocks, picnic and ham were all high. Loin and ribs were low. The estimated slaughter of pigs is 469,000, a decrease of 3,000 per week and 4,000 per year.



Cattle futures fall in mid-week

https://brownfieldagnews.com/market-news/cattle-futures-lower-at-midweek-3/ Cattle futures fall in mid-week

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