Kleist Comments

CLOSING AGS 11/26/13
CLOSING AGS 11/26/13

*** A SAFE AND HAPPY THANKSGIVING TO YOU ALL***

Cattle: Cash cattle so far: $132.00 Ks., dressed Neb. $209.-210.00; On 876 boxed loads cut outs dn. $.13(c) to up. $.43(s) on light/mod/ midday movement.

Comments: Well. Up $2-3.00 between live and dressed ahead of tomorrow’s holiday. Explains better the rally yesterday and the follow though rally today. Next week packer are back to a full-kill week and even with higher showlists they paid up for cash cattle (in areas for now), Nonetheless, a positive signal. Now we see if the demand holds up next week.

Hogs: Interior hogs early east up. $.88, west too confidential’ apparently; Pork cut outs rose $.62 in mixed dealings.

Comments: Hogs rallied with the cattle but failed to maintain gains. After all it was the cattle’s show. Wt.s I/M 281.4lbs. up 1.2 on week and up 3.0lbs. on year. Still bullish attitudes remain over PED and a slight seasonal up as we move into December.

GRAINS & OILSEEDS:

Corn: Mixed bag with December getting hit from likely liquidation ahead of deliveries Friday. Otherwise a slow cranky and apparent light-volumed trade ahead of the holiday tomorrow.

Soybeans: New swing highs and a lower close. Not liking that but profit taking and a holiday amid apparent light volume was a good culprit. Export demand has been holding up well and technicals now cooperating some as well. Will see if Friday the market can have a ‘traditional’ rally. Bulls would be thankful!

Wheat: Best action of the bunch but likely some wheat/corn spread action; some shortcovering when funds failed to show up and sell large quantities and despite’ those good old news crop ratings.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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