Market News
Reaction to cattle reports fade in Tuesday’s cattle futures
At the Chicago Mercantile Exchange, live and feeder cattle closed lower Tuesday after beginning the day higher on tightening supplies. August live cattle closed $.52 lower at $122.92 and October live cattle closed $.77 lower at $128.42. August feeders closed $1.50 lower at $160.70, while September feeders were down $.82, to close at $164.00.
There was only a little light scattered trade Tuesday, with asking
prices not fully established. Significant trade volume will be delayed until Wednesday or later.
At the Lolli Brothers Livestock Market in Macon, Missouri, there were 1,100 cattle on Tuesday. Compared to two weeks ago, the best test was on steer calves weighing 550-600 pounds selling $2.00 $5.00 higher with the 500-550 and 600 to 750-pound steers trading with a firm to higher undertone. Feeder heifers weighing 600-700 pounds sold steady to firm. There were three pot loads of 600 to 650-pound heifers with good weighing conditions, and a nice offering of 5-weight steers all selling with good demand.
Medium and large number one steers weighing 570 to 600 pounds, brought $173.00 to $181.50.
Medium and large number one heifers weighing 610 to 640 pounds, brought $146.50 to $153.25.
Boxed beef cutout values closed higher, with choice up $1.80 at $269.73 and selects up $3.02 at $253.94.
Estimated cattle slaughter Tuesday was 119,000 head, 2,000 more than last week, the same as a year ago.
Lean hog futures closed mostly lower after a stronger open. August lean hogs closed $.07 higher at $107.47. October lean hogs closed $.57 lower at $92.52.
Cash hogs closed mixed. Iowa/Minnesota direct hogs were down $1.15 to close with a weighted average of $107.49. National direct barrows and gilts were $.45 lower, closing with a weighted average of $105.54.
Illinois sows closed firm, with light sows bringing $64.00 to $76.00; heavy sows were $72.00 to $80.00.
Pork carcass values closed $.55 higher at $123.49
Estimated hog slaughter is 474,000, 5,000 more than last week, the same as last year.
