Kleist Comments

CLOSING AGS 5/23/14
CLOSING AGS 5/23/14

*********A SAFE & HAPPY MEMORIAL DAY WEEKEND,
*******ALWAYS REMEMBER………………….

Cattle: Cash cattle so far: $144.-143.00 south, $144-144.50 north; on 51 boxed loads cut outs dn. $.19(c) to dn $.22 (s) on light midday movement.
Comments: Cash cattle end the week anywhere from steady to $4.00 but by week’s end mostly lower; dressed fell $2-4.00 in volume north. While at a discount to the live coming in, futures still succumbed to long-disappointment and concern beef may have topped over $230.00 (c) and with higher kill rates in the summer.

Hogs: Interior hogs not established Eastern, western dn. $.38-.49; Pork cut outs rose $.19 on a mixed trade.
Comments: June hog’s fall from premium some what justified as it starts to need to follow the lean index. However, July/Aug. also gave up a chunk of premium though some still insist hog kills will fall off a cliff come summer (which is right around the corner).

GRAINS & OILSEEDS:

Corn: As expected, a slow-quiet day ahead of the 3-day weekend. This week saw multi-week decline in price as planting weather improved and as export sales declined.

Soybeans: Choppy trade with some old crop/new crop selling again. This week we found out that our prices are apparently NOT as competitive with South America, those of the record high crop and harvest all but completed, as per the weekly export sales.

Wheat: New multi-month lows this week on: rains to the U.S. southwest; on Black Sea crops, including Ukraine’s, looking to fair very well; on poor weekly export sales.

Kleist Comments

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

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