Cattle: Cash cattle this week: $150.-152.00 (sdy/up $2.00) south & $152.-154.00 Neb. (sdy/up $2.00) and $245.00 dressed (up $4.00); on 52 boxed loads cut outs up. $.80(c) to dn. $.76(s) on light midday movement.
Comments: Nice run up near to the topside of the volatile trading range we are in. Background support from higher cash cattle; from higher cash cattle unusually early in the week; and a recovery in choice beef prices.
Hogs: Interior hogs not/est. east, dn. $2.38 west.; Pork cut outs rose $.81, mixed trade.
Comments: April hogs jumped sharply from their total-day lows after apparent follow through selling ran its course. Now a likely consolidation ahead of Friday’s Pig Crop.
GRAINS & OILSEEDS:
Corn: Soybeans: Wheat: Nothing day fundamentally and individually really. Corn pressured by more cash movement and a ruse about warmer weather and increased fieldwork. Old crop beans? Perhaps my morning comments about Brazil and potential shipments to the U.S. ‘later’. Wheat? Some possible rain, fear of losing export demand and thin trading conditions led to strongly lower prices, especially in KC.