Cattle: Cash cattle last week: $131.-133.00, & 208-209.00 dressed; On 88 boxed loads cut outs up. $.81(c) to dn. $.39(s) on light/moderate midday movement.
Comments: Another seemingly light volume trade under high-indecision. Cash cattle are talked about as coming in steady but that’s likely just due to the Feb.’s activity. As mentioned there was some talk about backed up beef movement out east but little definitive information so far.
Hogs: Interior hogs early mixed at up. $.75 (w) and (e) off $.13;
Pork cut outs fell $2.63 led by the big three.
Comments: Dec. tracking the lean index until Friday’s expiry while the Feb. keeps getting the brunt of its premium to the melting cash hog markets. Numbers still ample but maybe more importantly wts. are record large with it.
GRAINS & OILSEEDS:
Corn: Soybeans: Wheat: Grouped together, this crowd had a fairly slow-volume trade. Dec. supported by perhaps increased feed usage and ethanol use. Soybeans seen merely consolidating on the charts, uptrend still in place. Late ‘pop’ likely funds defending long positions. And wheat sees an oversold bounce of minor proportions. France’s AG Min. raised production to 3.4% over a year ago and non E.U. exports up by 19% for 2013-2014.