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Chicago Mercantile Exchange live cattle contracts were mostly higher with the exception of the two front months. Short covering, stronger beef sales, and ideas that yesterday's implosion were not justified were major features of the session. Support in the far deferred months came from renewed strength in the corn pit. February closed .05 lower at 83.10, and April was down .12 at 86.82. Boxed beef cutout values were higher on Friday on light to moderate demand and offerings. Choice beef was up 1.73 at 145.85, and select was .99 higher at 137.75. Feeder cattle settled higher due to short covering and profit taking, Chart support was also helpful, as is the recent strength of the cash index. January feeders closed .60 higher at 94.10, and March was up .42 at 92.67. Receipts at Missouri feeder cattle auctions this past week totaled 52,043 head. Compared to the last good test in mid December cattle sold from 4.00 to 12.00 higher, with some light weight calves as much as 20.00 higher. Prices quoted are for feeder steers and heifers' medium and large 1 and 1-2. 500 to 600 pound steers traded from 90.00 to 120.00, heifers from 75.50 to 106.50. Feeder steers weighing 700 to 800 pounds brought 80.50 to 104.00, the same weight heifers from 77.00 to 93.00. Most of the slaughter cattle trade took place on Thursday of this week. Live basis steers and heifers in the High Plains direct markets were 2.00 to 3.00 lower from 84.00 to 85.00. In the Midwest on a dressed basis cattle trended 2.00 to 4.00 lower from 134.00 to 136.00 and live at 83.00. Packers were short bought but were not aggressive for numbers and backed up bids after some cattle were purchased. Demand for beef is light to moderate as the general economic worried continue to cause many consumers to curtail purchases. Show lists could be somewhat larger next week, padded by carryover steers and heifers. The weekly cattle slaughter was estimated at 601,000 head, 90,000 more than last week, but 33,000 less than a year ago. Barrows and gilts at the terminals trended mostly steady with an instance of a dollar higher from 33.00 to 37.00 with a top of 42.00 on a few head in Wisconsin. The Missouri direct base carcass meat price was steady from 49.00 to 50.00. Barrows and gilts in the Iowa/Minnesota direct trade closed .67 higher at 56.88 on a carcass basis, the west was up .72 at 57.00, and the east was .01 higher at 53.61. The weekly hog slaughter was estimated at 2,386,000 head, 468,000 more than the holiday week, but 48,000 less than last year. Early year packer hunger has been tied to both ambitious slaughter plans and appreciation in the carcass value. Saturdays kill was estimated at 212,000 head, somewhat smaller than earlier predictions. Monday's market is predicted to be about steady to firm. Lean hogs ended the week mostly lower with only the February modestly higher due to improving near term fundamentals. February was up .02 at 62.45, and April was .45 lower at 68.50. February pork bellies were down 1.07 at 83.57. The pork trade was slow, with light to moderate demand and offerings. The lean carcass cutout was down .27 at 59.05. I am an expert from rexleds.com, while we provides the quality product, such as LED Panel Light , China LED Down Light Fixtures, LED Spot Light Bulb,and more.
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