CATTLE: Cash cattle last week $124.00-$125.00 (bulk) dressed $197 (bulk)-$198.00 Neb.; on 122 boxed loads cut outs: choice up. $.29 at $196.091, select up. $1.50 at $185.64 on light/moderate demand. Carcass Equivalent: $183.37 up. $.05.
COMMENTS: Not much to say here that’s fresh. Weather current and on the upcoming holiday weekend seems conducive to meat demand in general but that’s about it. Open interest little changed in total amid light volume explains the uncertainty best.
Interior cash hogs yesterday lower at dn. $1.00/$1.61, rough avg. $88.75; cut outs up $.11 @ $98.13; lean index as of 08/26 @ $96.01 dn. $.97.
COMMENTS: Cash hogs likely under pressure especially after an Enron-like accounting trick midday yesterday which had cut outs up nearly $4.00 only to end up $.11cents (guess bellies were NOT worth up $18.00 after all. I/M wts. not seeing new corn yet? 271.6lbs. dn.4 though up 3.0lbs. on the year; open interest rose 3,156 led by the October up 1,833…new selling on about a 50% technical correction?…volume light-side.