Agfax Buzz:
    April 23, 2012

    DTN Livestock Open: Markets Begin With Mixed Prices

    AgFax.Com - Your Online Ag News Source

    By John Harrington DTN Livestock Analyst

    Live and feeder contracts should open on a mixed basis as traders slowly sort through ambivalent Cattle on Feed news. Lean hog futures are also expected to start out with uneven price action.

    Cattle: Cash Stdy-1 LR Futures Mixed Live Equiv $130.06 + .33*

    Hogs: Cash Steady Futures Mixed Lean Equiv $85.25 + .63**

    *based on formula estimating live cattle equivalent of gross packer revenue; **based on formula estimating lean hog equivalent of gross packer revenue

     

    GENERAL COMMENTS

    Hoping that tight fed supplies can continue to trump poor processing margins, feedlot margins will once again start out the week by pricing ready steers and heifers higher, probably around $124 to $125 in the South and $200 to $202 in the North. Showlists are expected to be some larger, but fed supplies could remain quite manageable if chain speed increases. While processing margins are unattractive, standing orders may call for more beef production as retailers and food managers prepare for seasonal demand. Cattle futures seem set to open on a mixed basis as traders position ahead cash prospects.

     
    Copyright DTN. All rights reserved. Disclaimer.
    Powered By DTN

    Leave a Reply

    Name and Email Address are required fields. Your email will not be published or shared with third parties.

    Sunbelt Ag News

      AgFax Grain Review: Diseases Developing Fungicide Resistance; Positive Outlook for Soybeans10-31

      Rice Market: Unexpected Action in Futures This Week10-31

      Rice Crop: Texas 2nd Crop Not Very Promising10-31

      Grain TV: Basis Levels Improve10-31

      AFB Grain-Soybean Close: Wheat Down, Gains in Corn, Soybeans10-31

      AFB Cotton Close: Futures Retrace Wed. Gains10-31

      AFB Rice Close: Futures End on Positive Note10-31

      South Carolina Cotton: Southern Southeastern Annual Meeting, Hilton Head, Jan. 21-2410-31

      Cleveland on Cotton: Goblins Keep Coming – Look for Jan. Rally10-31

      DTN Livestock Close: Short-Covering Boosts Live Hog Futures10-31

      BT Soybeans: MON 87751 Gets Non-Regulated Status by APHIS10-31

      AgFax Rice Review: Drought Hammers Cali. Crop; Surface Ozone Reduces Yields10-31

      Crop Tech: Orange Corn; BT-Soybeans; Frozen Oats – DTN10-31

      Grain Farming Economics Look Grim for 2015 – DTN10-31

      Crop Insurance: 3rd Option for Crop Payment Yield Update10-31

      DTN Cotton Close: Mixed After Late Rally10-31

      Mississippi Wildlife: Responsible Hunting Maintains Future Populations10-31

      DTN Grain Close: Soybean Complex Ends Week Higher10-31

      Mississippi Pecans: Off Year May Impact Holiday Volume10-31

      USDA: Peanut Price Highlights10-31

      Georgia Pecans: Good Demand, Lighter Crop Expected10-31

      Four States Cattle Conference Set Dec. 10 in Texarkana, Ark.10-31

      DTN Livestock Midday: Live Cattle Contracts Shift Lower10-31

      DTN Grain Midday: Corn, Wheat Trading Lower10-31

      AgFax Wildlife Review: Wild Hogs Could Put Scare in Trick-or-Treaters10-31