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Pig futures backed by demand optimism

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Pig futures backed by demand optimism

At the Chicago Mercantile Exchange, live and feeder cattle have finished their day waiting for the development of cash trading. The high movement of the corn that day led the feeder cow down the road. April raw beef closed at $ 122.10, down $ .30, and June raw beef closed at $ 120.05, down $ .87. Feeder cows in April closed at $ 141.15, down $ 1.30, and feeding cows in May closed at $ 145.42, down $ 1.90.

It was a quiet Wednesday for direct cash cow trading activities. Bids haven’t surfaced yet, with asking prices ranging from $ 125 in the south and $ 200 to $ 205 in the north. Significant trading volumes may be postponed until Thursday or Friday. The Fed Cattle Exchange on Wednesday sold 3,966 heads, but none were for sale because the minimum price of $ 122 to $ 128 was not met. A special Fed Cattle Exchange Auction will be held on Thursday.

At the Kingsville Livestock Auction in Missouri, steered cattle are stable, $ 5 lower than last week, heifers are nearly stable, and are strong in spots for heifers under £ 550. did. Mainly new crop calves were offered. Demand was good and supply was moderate. Receipts decreased weekly, but increased year by year. The feeder supply included 55% steers and 41% of the offerings were over £ 600. Medium and large 1-feeder steer £ 504-549 was $ 161-177 and £ 804-818 feeder steer was $ 138.60- $ 145.35. Medium and large 1-feeder heifers 451-484 pounds were $ 155.75-168.25 and feeder heifers 550-592 pounds were $ 145-155.

Boxed beef closed at a high price due to strong demand for modest products. Choice ended at $ 272.81 high at $ 2.80 and Select ended at $ 267.31 high at $ .77. The selection / selection spread is $ 5.60. The estimated slaughter of cattle is 115,000, a decrease of 5,000 per week and an increase of 25,000 per year.

Pork lean futures closed at a daily high, supported by high pork prices during the session and optimism in long-term demand. April lean meat closed $ .20 higher at $ 103.60 and May pork lean meat closed $ 1.65 higher at $ 106.57.

Cashhog closed mixed with the execution of large-scale negotiations. .. Packers have been moving a large number lately, so they remain active in their procurement efforts. Demand is strong in both the global and domestic markets and is expected to continue. And the total of daily slaughter remains relatively high. The pig’s weight increased slightly that week to 287.4 pounds. That’s an increase of just £ 0.1 from a week ago, but an increase of £ 2.5 a year. National Daily Direct’s Barrow and Gilt closed at $ 0.20, with a base range of $ 97 to $ 105 and a weighted average of $ 101.35. Iowa / Minnesota closed at a weighted average of $ 103, up $ 0.44. The Western Corn Belt has a weighted average of $ 102.92, which is $. Closed at a high price of 40. Due to confidentiality, the price of the Eastern Corn Belt has not been reported.

Butcher pig prices on the Midwestern cash market are stable at $ 66. In Illinois, slaughter sows were priced $ 2 lower, with moderate to good demand for large quantities of products ranging from $ 64 to $ 74. Barrow and gold leaf prices were strong, with high demand for medium to heavy products between $ 65 and $ 70. Wild boars ranged from $ 30 to $ 40 and $ 12 to $ 20.

Pork prices fell, falling $ 2.40 at $ 110.09. The belly, hips, picnic, and buttocks were all low and dropped sharply. The ham was firm and the ribs were sharply high. The estimated slaughter of pigs is 480,000, a decrease of 14,000 per week and an increase of 45,000 per year. The pig slaughter on Tuesday was revised to 484,000.



Pig futures backed by demand optimism

https://brownfieldagnews.com/market-news/hog-futures-supported-by-demand-optimism/ Pig futures backed by demand optimism

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