CATTLE: Cash cattle: $152.00-155.00 and $244.00; on 107 boxed loads cut outs lower @ dn. $.14 @ $256.75(c), dn.$.90 @ $248.57 (s) on moderate demand; Carcass Equivalent: $236.54 dn. $1.43.
COMMENTS: Two things positive: 1) few sales yesterday in Nebraska at $156.00…showlist sucked up? and 2) a similar pre-recovery on the charts like June 8 and July 11; until then, if selling rallies the likely bear defense a move/close over $150.00 near term to neutral. Open interest fell 1900 led by both Aug. and the October nearly equally, volume well toned down.
Interior cash hogs lower @ dn. $2.34 (W), N/C (E): rough avg. $105.00. Pork cut outs rose $1.71 @ $116.19. Lean index 08/13 @ $116.42 dn. $1.46.
COMMENTS: Thanks, pork bellies: late wire jump, up $14.00, ‘saved’ the cut outs; some talk again about a PEDv vaccine; October hogs again post a spike low….but we’ve been fooled before; open interest fell 1,000 led by October off 1200 amid moderate volume; If selling rallies, the likely bear defense a move/close over $100.50; something encouraging: Wed. pork movement was heavy and yesterday’s not bad….prices getting to levels stimulating retail interest? We’ll see if consistent.