CATTLE: Cash cattle this week $131-134.00 and $208-20 9.00 dressed; on 102 boxed loads cut outs Choice $204.24 up $1.12, select $188.12 up. $.62 on moderate/light demand: Carcass Equivalent: $194.37 up $.55.
COMMENTS: Busy thursday afternoon: cold storage report (est. modestly down on month and up on year) and a delayed cattle-on-feed report. Technically, December cattle i recovering from its ‘reversal’ last week very similar to the recovery off October 17th’s ‘reversal’. For now anyway. Hey, I’m scratching to get a new handle on this Zemax situation. Open interest fell 1,737 led by Dec. off 3,201 amid moderate volume.
Interior cash hogs yesterday lower west only at dn. $.35, rough avg. $85.00 (west only) pork cut outs at $94.00 dn. $.36. Lean index as of 10/28 $9 0.57 dn. $.61.
COMMENTS: Cash hogs called steady/weak though the late pork wire improved sharply from the early reports. I understand an August pork export report showed it down 4% on yr. while pork imports rose 9%….one can actually read that two ways; cold storage report estimates sees pork stocks up on month but down on year; I/M wts. came in at 277.8 up .7lbs. on week, up 5.0lbs. on year! Open interest little changed in total, some rolling noted, volume moderate side. Need to keep a trading affair stance for now and avoiding top picking.