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Cow futures go down for a week

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Cow futures go down for a week

On the Chicago Mercantile Exchange, live and domestic cattle have been pressured by a decline in cash business this week and a diminishing trend in boxed beef. Raw beef in December closed at $ 136.52, down $ .62, and raw beef in April closed at $ 140.60, down $ .35. January feeders closed at $ 160.25, down $ 2.32, and March feeder cows closed at $ 161.70, down $ 2.62.

It was a relatively quiet Friday for direct cash cow trading. Some scattered cleanup businesses are reported to have live deals of $ 136 and dress deals of $ 218 to $ 219, both of which are in perfect agreement with last week’s business. Live trading in the South ranges from $ 134 to $ 138, mostly $ 137 to $ 138, down $ 2 to $ 3 from the weighted average of the previous week. Northern dressed trade ranged from $ 216 to $ 220, mostly at $ 218, $ 2 lower than Nebraska’s weighted average last week.

At the Mitchell Livestock Auction in South Dakota, £ 600-900 was $ 1-3 lower and £ 1050-1100 lower $ 2 compared to last week’s feeder steer. Feeder heifers £ 650-850 were $ 3-7 lower and £ 900-950 heifers were stable. USDA states that demand for lighter products was good. Receipts have decreased weekly and yearly. The feeder supply included 50% steers and 81% of the offerings were over £ 600. Medium and large 1 feeder steers ranged from £ 656 to $ 699 for $ 166 to $ 178, and feeder steers from £ 711 to $ 743 for $ 163.50 to $ 174.25. Medium and large 1-feeder heifers 601 to 646 pounds were $ 153 to $ 163.25, and feeder heifers 653 to 692 pounds were $ 152 to 160.25.

This week’s Missouri hay market is slowing down hay in the state due to the lack of feeding needs. USDA states that the supply of hay is moderate and the demand is mild to moderate. The price is stable. Alfalfa, the best and medium-sized squares, brought $ 200 to $ 250. Alfalfa, the best small squares brought $ 8 to $ 12. Alfalfa, Premium and Medium Square brought $ 160 to $ 200. Alfalfa, a good large round brought $ 120- $ 160. Alfalfa, a good little square brought $ 5 to $ 9. Alfalfa, a fair and large round brought $ 100 to $ 125. Alfalfa / glass mix, good / premium small squares brought $ 6 to $ 8. Mixed grass, a good premium big round brought $ 80- $ 140. Mixed prairie, fair / good large rounds ranged from $ 60 to $ 100, and small squares ranged from $ 4 to $ 6.

Boxed beef remained strong with moderate demand for modest products. Choice closed $ .04 high at $ 263.01 and Select closed $ .14 high at $ 248.28. The selection / selection spread is $ 14.73. The estimated slaughter of cattle is 120,000, a decrease of 1,000 per week and an increase of 4,000 per year. The estimated number of killings on Saturday was 58,000, a weekly decrease of 12,000.

Pork lean futures closed predominantly high adjustment spreads with support from higher cash businesses during the session. February lean meat closed $ .45 higher at $ 80.80 and April pork lean meat closed $ .10 lower at $ 84.77.

Cashhog closed lower, with a fairly light run by negotiation. Processors continue to move as many as they want, and one day they are more active in procurement than other processors. The industry is also monitoring the availability of pigs for the market and will look at all upcoming quarterly pig and pig reports from USDA. Demand for US pork in the global market is strong, but long-term demand concerns are putting pressure on prices. National Daily Direct wheelbarrows and gilts closed at $ 0.68, with a base range of $ 56 to $ 64 and a weighted average of $ 59.41. Iowa / Minnesota closed with a weighted average of $ 60.85. The weighted average of Western Corn Belt was $ 60.69. Due to confidentiality, the price of the Eastern Corn Belt has not been reported.

Early weaning pigs and all feeder pigs were $ 2 to $ 3 higher, according to the USDA Weekly Feeder Pig Report. Demand for modest offers was moderate and the receipt included a 64% formalized price. The total cash range for the composite ranged from $ 40 to $ 65, with a weighted average of $ 58.38. The formula range for TotalComposite was $ 66 to $ 84 and the weighted average was $ 76.25. The weighted average for all early weaning pigs was $ 54.68 and the weighted average for all feeder pigs was $ 76.25.

The value of pork has fallen sharply, dropping $ 5.67 to $ 85.82. Ham fell by more than $ 22 on Friday. I was hungry with a picnic. The buttocks, hips, and ribs were high and rose sharply. The estimated slaughter of pigs is 475,000, an increase of 9,000 per week and a decrease of 4,000 per year. The estimated number of killings on Saturday is 332,000, an increase of 98,000 per week and a decrease of 50,000 per year.



Cow futures go down for a week

https://brownfieldagnews.com/market-news/cattle-futures-end-the-week-lower-3/ Cow futures go down for a week

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