Kleist Comments

MORNING MEATS 7/18/14
MORNING MEATS 7/18/14

CATTLE: Cash cattle so far: $155.00-157.50; on 148 boxed loads cut outs mixed @ dn. $1.05 @ $249.81(c), up. $1.38 @ $244.24 (s) good demand; Carcass Equivalent: $232.89 dn. $.51.
COMMENTS: There’s now talk that with a cow kill seen off 15-20% as they go off to pasture that we will see an even lower domestic availability of beef for another 12 months on that herd rebuilding. Peak cow/bull hold back? Open interest fell 1170 led by August off 6,350 amid good volume.
No fresh opinion, hit our near term perimeters fairly well.

HOGS:
Interior cash hogs lower @ dn. $2.41 (W), N/C $124.56 (E): rough avg. $126.00. Pork cut outs rose $1.25 @ $135.96. Lean index 07/16 @ $134.17 up. $.16.
COMMENTS: As much as conjecture over PEDv has been alive for months, hog futures nearby are rather non-plussed by it all. Hence a trading affair remains in order. Open interest little changed in total amid moderate volume.

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.