Cattle: Cash cattle this week: $147.150.00. On 30 boxed loads cut outs up. $.98(c) to up. $.07(s) on very light midday movement.
Comments: Perhaps Feb. was hurt by that report of $146.00 Tx. trade even though at a large discount. Could it be packers hedge-shorting then will pull the plug on cash cattle this week? Just wondering.
Hogs: Interior hogs mixed, up. $.29 (W), dn. $.65 (E);Pork cut outs rose $1.36, on mainly bellies and loins.
Comments: Not sure anything new here. Easy explanation for the decline in the Feb. is its premium to the lean index while the April’s big premium prompted some profit taking. For some reason thought this would be supportive here: Hong Kong culls 20,000 in its first step fight against bird-flu that killed two people so far and suspends chicken imports from China due to bird-fly there.
GRAINS & OILSEEDS:
Corn: Soybeans: Wheat: The holiday continues apparently. Perhaps the extreme cold has the traders’ fingers frozen. Then again, not much to chew on as indicated on my morning comments. Only fresh news was Egypt buying a slug of wheat, mostly from Russia (by the way, wasn’t Egypt’s Ag Minister quoted last week as saying they have enough wheat through May?). Well, this purchase was for Feb./March ship. They remain transparent and poor poker players. Oats were more exciting.