Business & Investment

Cow futures heading for friday

Market news

Cow futures heading for friday

On the Chicago Mercantile Exchange, live and feeder cows ended a day higher, supported by rising boxed beef prices during the session. Raw cows in October closed at $ 125.75, which is $ .97 higher, and raw cows in December closed at $ 130.30, which is $ 1.30 higher. October feeder cows closed at $ 158.42, which is $ .77 higher, and November feeder cows closed at $ 162.15, which is $ 1.17 higher.

It was a relatively quiet day for direct cash cow trading activities. Bids surfaced for $ 124 live and $ 196 for dresses. When asked about the price of cows left on the showlist, they were dressed at about $ 125 in the south and $ 198 in the north. This week’s trading was around $ 124, almost stable on last week’s weighted average. Trading in Northern Dresses was close to $ 196, which was generally stable on a weighted average basis last week in Nebraska.

In the Nelumbo nuciferous livestock market, steerers under £ 650 were consistently $ 6 higher and heifers were consistently $ 4 higher compared to last week. USDA says the demand from buyers in the crowd was good. Receipts are decreasing weekly and yearly. The feeder supply included 57% steers and 37% of the offerings were over £ 600. Medium and large 1 feeder steers were £ 566 for $ 183 and feeder steers were 623 to 641 for $ 167.50 to $ 170.85. Medium and large 1-feeder heifers £ 505-525 were $ 155.50- $ 160, and feeder heifers £ 550-593 were $ 151-158.50.

Boxed beef closed at a high price due to strong demand for modest items. Choice ended $ .30 higher at $ 280.32 and Select ended $ 1.98 higher at $ 260.68. The selection / selection spread is $ 19.64. The estimated slaughter of cattle is 119,000, a decrease of 1,000 weekly and yearly.

Pork lean futures fell on the day under pressure from recent cash price declines and long-term demand uncertainty. Red meat in October closed at $ 88.20, down $ .45, and lean meat in December closed at $ 77.32, down $ .82.

Cashhog remained strong with strong negotiations. Packers had to work a little harder on Thursday to move their desired number. The industry continues to monitor the availability of market-ready wheelbarrows and gold leaf. And while strong demand for US pork in the global market and domestically is strong, there are long-term demand concerns that are putting pressure on prices. National Daily Direct Barrows and Gilts are $ .14 higher, with a base range of $ 66 to $ 71 and a weighted average of $ 68.32. Iowa / Minnesota closed with a weighted average of $ 69.42 and the West Corn Belt had a weighted average of $ 69.53. Due to confidentiality, the Eastern Corn Belt was not reported.

Butcher pig prices on the Midwestern cash market are stable at $ 60. In Illinois, slaughtered sows were priced almost $ 1 to $ 2 lower, and moderate demand for medium to heavy products was $ 48 to $ 57. Barrow and Gilt were $ 1 lower, with moderate demand for large quantities of $ 40- $ 48. Wild boars ranged from $ 20 to $ 25 and $ 9 to $ 15.

Pork values ​​closed higher – up $ 1.21 at $ 106.06. The abdomen and ribs were sharply high. The picnic was higher and the ham was firm. The hips and buttocks were low and dropped sharply. The estimated slaughter of pigs is 477,000, a decrease of 1,000 per week and 5,000 per year. The pig slaughter on Wednesday was revised to 473,000.



Cow futures heading for friday

https://brownfieldagnews.com/market-news/cattle-futures-higher-heading-into-friday/ Cow futures heading for friday

Back to top button