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 Your email will not be published or shared with third parties.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

      Farmland Auction: Arkansas, Louisiana, Mississippi Cropland – October 2209-14

      Cotton – Southeast – More Cotton Defoliation; Rains Come Too Late – AgFax09-12

      Cotton – Midsouth – Picking Starts, More Cotton Defoliation Begins – AgFax09-12

      Soybeans – South – Variable Soybean Loopers; More Beans Cut – AgFax09-12

      Rice Crop: Harvest Zooms Along in Texas, Louisiana, Starts to Pick Up in the Delta09-12

      Rice Market: USDA Chops 11.5M CWT from Total Supply09-12

      Rose on Cotton: USDA Released a Bearish S&D Report09-12

      DTN Livestock Close: Nearby Live Pit Pressured By Lackluster Packer Demand09-12

      Doane Cotton Close: Strong Week for Prices09-12

      Environmental Groups Sue EPA Over Delay in Chlorpyrifos Ban – DTN09-12

      Cleveland on Cotton: Growers, Do Not Price Your Crop Right Now.09-12

      Welch on Wheat: U.S. and World Ending Stocks Increase09-12

      Welch on Grain: Increased Corn Production, Carryover09-12

      AFB Grain-Soybean Close: Soybeans Up, Wheat Lower, Corn Mixed09-12

      AFB Cotton Close: Slight Losses in Dec.09-12

      AFB Rice Close: Futures See More Solid Gains09-12

      Railroad Criticism a Long-Standing Refrain Among Farmers09-12

      DTN Cotton Close: Mixed for Day, Ahead for Week09-12

      Texas Sorghum: Sugarcane Aphids Confirmed on Southern High Plains09-12

      DTN Grain Close: End Week on Bearish Note09-12

      USDA: Peanut Price Highlights09-12

      AgFax Rice Review: New Reservoir for Texas Growers; Continued Drought Problems in California09-12

      Peanut Harvest Gains Momentum In SE, Starts In Delta – AgFax09-12

      DTN Livestock Midday: Futures Bounce off Morning Lows09-12