*** 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.