MORNING MEATS 8/09/13
CATTLE: Cash cattle last week not well established (prev. $119.00 south, $120.50 Neb.); on 143 boxed loads cut outs: choice dn. $.35 at $188.33 select up. $.38 at $182.05 on moderate/good demand. Carcass Equivalent: $176.43 dn. $.13.
COMMENTS: Looked like a ‘false breakout’ possible for the October contract which was predicated on Tyson’s move on supplemental-raised beef. Cargill not going along for the ride and other drugs might fill-in for Tyson eventually. Hence let it cool off some for now. Open interest rose 3,967 amid strong volume, a positive sign.
Interior cash hogs yesterday mixed at dn. $.67/up. $2.20 rough avg. $9750; cut outs dn. $1.03 @ $103.65; lean index as of 08/07 @ $101.49 up. $.41.
COMMENTS: After two-weeks came back and October still in a large trading range between $87.00-83.00 for the October contract. Warm weather peak noted by climotoligists and pre-school looms large. Open interest rose 1,119 amid moderate volume.
Thanks to all that wrote, emailed about my condition; my sleep apnea created a special heart problem and I suggest all that can get tested if you have a suspected case.