Kleist Comments

MORNING MEATS 9/27/13
MORNING MEATS 9/27/13

CATTLE: Cash cattle last week $124.00 south; $125-125.50 north; on 135 boxed loads cut outs: choice up. $.01 at $193.60, select dn. $.42 at $177.05 on moderate demand. Carcass Equivalent: $182.52 dn. $.11.

COMMENTS: The cash cattle trade still called weak and again will likely inhibit the upside on futures especially at premium. It would seem a ‘no-brainer’ to sell, would it not? But it hasn’t been except in the context of its trading affair rollar coaster. Retail featuring added some more grill items and weather overall looks favorable in general for BBQ’ing and steaks.

HOGS:

Interior cash hogs yesterday mixed at dn. $1.20/up. $.20, rough avg. $91.50; cut outs up. $.81 @ $101.08; lean index as of 09/26 @ $97.66 dn. $.33.

COMMENTS: Cash hogs called weak but also ahead of today’s Pig Crop report, overbought and technical considerations. Found it interesting a report that the ‘big boys’

that bought Smithfields will push for ‘a quick gearing up of U.S. PORK’ to China that includes more value-added items (hams, etc.). Wake up call perhaps? Let’s see if the Pig Crop changes the near term bull trend.

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.