Kleist Comments

MORNING MEATS 12/23/13
MORNING MEATS 12/23/13

CATTLE: Cash cattle last week $130.-131.00, Neb. dressed $207-208.00; on 96 boxed loads cut outs lower at dn. $.92 @ $196.79(c)/dn. $.35 @ $188.43(s) on light demand; Carcass Equivalent: $188.55 up. $.03.

COMMENTS: The Placements )herd rebuilding?) number to me was largely neutral but that with the marketing number could aid bear spreads. The Cold Storage report this afternoon could make or break my opinion on the marketing’s. Was the rally about bottoming the cash or a knee-jerk reaction to the report China could import U.S. beef again in July? I have no definitive opinion yet. Nonetheless, our likely bear defense area nearly got hit at $134.25 and will keep it there on a move over.

HOGS:

Interior cash hogs lower @ dn. $. —–(e)-dn. $.56(w) avg.$77.25; pork cut outs dn. $.54 @ $85.38. Lean index as of 12/18 @ $80.55 dn. $.05.

COMMENTS: Cash hogs should be quiet as the holiday looms large.

Major thing? Major radio station reported in its news about PED and its effect of increasing the price of pork. Public getting in the know now? We have a Pig Crop report and little changes are likely; let’s again lower our likely bear defense to a close over $87.00, move over $87.50.

Kleist Comments

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

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