Kleist Comments

MORNING MEATS 12/10/13
MORNING MEATS 12/10/13

CATTLE: Cash cattle last week $131.-133.00, Neb. dressed $208-209.00; on 108 boxed loads cut outs higher at up. $1.05 @ $202.52(c)/$1.14 @ $188.12(s) on moderate/light demand; Carcass Equivalent: $192.17 up.$.17.

COMMENTS: Cash cattle are called mostly steady as per the December contract and the bitter cold’s effect on wts. Cold Storage. Retailers are booking the likely last of Christmas high-end cuts and helping the beef market somewhat. Lot of indecision cash and charts right in here. Open interest fell 3,400 led by Z/J off 4700 amid good volume. Let’s see what the USDA report has to say. No opinion change.

HOGS:

Interior cash hogs steady/lower dn. $1.96(w)/ N/C(e), rough avg. $77.50; pork cut outs up. $.03 @ $89.61. Lean index as of 12/05 @ $82.46 dn. $.45.

COMMENTS: Cash hogs mixed on the weather but I/M made a new swing low in cash yesterday. Pork trade remains overall weak with day-to-day swings itself. Wts. coming down with the weather? No opinion change. Open interest rose 2,600 even as Dec. falls 1360 amid moderate volume. Back months still seen supported for now by PED talk. Let’s see if the USDA report has any indication.

Kleist Comments

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

Disclaimer: Trading options and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.