Kleist Comments

MORNING MEATS 7/11/13
MORNING MEATS 7/11/13

CATTLE: Cash cattle last week $119.00 south, $120-121.00 north; on 195 boxed loads cut outs: choice dn. $1.25 at $196.07, select up. $.20 at $186.705 on moderate/good demand. Carcass Equivalent: $188.92 dn. $.60.

COMMENTS: Futures on hold awaiting the live trade while the larger beef movement and slight increase in beef exports supports. Open interest rose 1,631 even as August falls 8538 amid strong volume. Weekly beef export sales 14,600t vs. 12,400t wk., Japan 6500t of it. Quiet. No opinion change.

HOGS:

Interior cash hogs yesterday mixed at up. $.72/dn. $.24 rough avg. $99.00; cut outs dn. $2.51 @ $101.70; lean index as of 07/09 @ $103.12 up. $.24.

COMMENTS: Cash hogs steady early though the sharply lower cuts outs pricking a bit of caution. Weekly pork export sales 6,4000t vs. 10,000t wk. (of note: China at only 500t of it); open interest fell 11,200 led by N/U/Z, volume strong. August hogs still meandering off its range-lows. “Plummet” in U.S. dollar seen supportive both pork and beef exports. Not much new here.

Kleist Comments

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

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