Kleist Comments

CLOSING AGS 2/7/14
CLOSING AGS 2/7/14

Cattle: Cash cattle so far: $139-141.00. On 100 boxed loads cut outs dn. $1.26(c) to dn. $2.35(s) on good midday movement.

Comments: Buy the rumor/ sell fact perhaps a cash cattle come in $3-5.00 though the south still stubborn. Additionally, besides hedgers and shortcoverers, the well improved midday beef movement gave some cover to buyers which suggests beef prices are back to consumption levels.

Hogs: Interior hogs Not/Est. early west, firmer east.

Pork cut outs rose $.34, as a big hit to the loins and lower bellies offset by a larger rise in hams.

Comments: Meandering most of the session but April got caught up with the cattle rally perhaps. That and PEDv that some now say will effect spring and summer months (hmm…since it’s not effecting us now?).

GRAINS & OILSEEDS:

Corn: Soybeans:Wheat: Mostly a consolidation type trade and the infamous “positioning” ahead of Monday’s USDA report….. support under corn and beans looking for a bullish supply/demand report; wheat some apparent profit taking after the recent sharp up.

Kleist Comments

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

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