CATTLE: Cash cattle last week: $147.-150.00, and $237-240..00 dressed Neb.; on 61 boxed loads cut outs mixed at up. $.44 @ $236.02(c)/dn. $.13 @ $232.87(s) on light demand; Carcass Equivalent: $221.28 dn. $.18.
COMMENTS: Beef market showing some signs of wear and tear and April’s discount this time might be prescient. Nonetheless with a USDA report at 11:00 and that discount, futures might consolidate. April needs a close under $142.62 to extend its losses.
Interior cash hogs higher @ up. $.35(e)/up. $1.67 (w) with rough avg. $105.00; pork cut outs up. $1.55 @ $109.58, led by primal cuts again. Lean index as of 03/06 @ $103.63 up. $1.32.
COMMENTS: Cash hogs higher? No stopping the “power of pork”? Not yet anyway. Retailers still finding pork a ‘bargain’ even as wholesale prices rise but they are not an endless fountain. Retailers also are studying the PEDv (whenever it comes ‘in masse’) along with concern Russia’s lifting of the ban will make pork even mover expensive. Hmm, what if neither factor occurred? Whatever, futures not as panicked as they were but speculatively, if buying risk seems at least $2.00 or worse if something goes wrong.