Kleist Comments

MORNING MEATS 2/25/14
MORNING MEATS 2/25/14

CATTLE: Cash cattle last week: $144.-145.00, and $230.-231.00 Neb.; on 106 boxed loads cut outs sharply higher at up. $2.96 @ $215.82(c)/up. $1.79 @ $212.67(s) on moderate demand; Carcass Equivalent: $207.57 up. $2.59.

COMMENTS: Since the livestock boys are all wired into the same mother box, some talk now is that IF PEDv more seriously effects hog supplies (see below) then April cattle looks ‘cheap’? Open interest rose 1,900 even as Feb. drops 1420 amid moderate volume.

Trading affair for now.

HOGS:

Interior cash hogs higher @ up. $.53(w)/up. $.71 (e) with rough avg. $91.50); pork cut outs up. $1.23 @ $98.37, led by hams & loins. Lean index as of 02/21 @ $91.58 up. $1.27.

COMMENTS: Cash hogs called up to $1.00 higher. Guess I’d rather have the USDA NOT report some interior prices after all due to “confidentiality” as early western corn belt was off $4.77 and late was UP $.38. April hogs still bull-forced and making nice continuous gains except for overbought sell offs from time to time. Not surprisingly the PEDv problem whispered to be now starting in April. Open interest rose 2,000 led by August up 1200 amid moderate volume. +$100.00 April should be next?

Kleist Comments

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

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