Kleist Comments

Morning Meats 4-19-13
Morning Meats 4-19-13


CATTLE: Cash cattle so far $125.00 from Monday; On 144 boxed loads cut outs: choice dn. $.54 at $190.79, select dn. $.24 at $184.25 on moderate demand. Carcass

Equivalent: $181.53 dn. $.31.

COMMENTS: April futures now acting as if cash cattle will remain at the $125.00 level when bulk trade develops?; Cattle-On-Feed this afternoon not effecting spreads much (say, placements vs. marketing’s); McDonald’s 1Q U.S. sales fell 1.2%, global sales off 1.2%…the clown is not amused; open interest little changed amid moderate volume. No opinion change.


Interior cash hogs yesterday lower at dn. $.24/$.60, rough avg. $76.00; cut outs up. $.10 @ $83.29; lean index as of 04/17 at $81.59 dn. $.10.

COMMENTS: Cash hogs about steady. Hype time? While not specifically saying more pork exports, the U.S. Grains Council says China consumers to switch from poultry to pork or fish; where’s the U.S. Export Meat Federation when we need them? I need a good rally to catch up on new summer hedges. Retail featuring using various gimmicks to see where the consumer sweet spot is from BOGO to major bulk buying. Open interest rose 2,130 led by Q/V/Z up a combined 2,054 amid light-side volume. No opinion change.

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.