<\/p>\n<\/a>Livestock<\/u> –
\nVirtually no new cash market info to digest from yesterday in cattle, other than the new showlists which are once again smaller than the prior week.\u00a0 We saw a somewhat light slaughter posted yesterday and from the packers\u2019 perspective this might be needed to support boxes and calm down cash trade a bit.\u00a0 It remains to be seen if this light pace will continue for the remainder of the week.<\/p>\n
Hog trade continued to march higher yesterday following cash support.\u00a0 The cash index is now up to $72, likely supporting some further gain in the near term.\u00a0 There seem to be rumblings that export demand to Mexico is starting to tail off a bit, and so we\u2019ll need to closely watch export sales each week in the near future.\u00a0 If export business is starting to taper a bit at these levels, it might provide a catalyst for some sort of correction.<\/p>\n
Below you\u2019ll see the interesting chart of the day.\u00a0 Here we have the spread between the spot live cattle futures and the contract 12-months out (shown as percent the above\/below of the spot month).\u00a0 What this is basically showing is that the inverse in the cattle futures has grown to its highest levels since 2003.\u00a0 I believe the reason for the huge inverse at that time was the first case of Canadian BSE.<\/p>\n
<\/p>\n
DISCLAIMER<\/u><\/strong>:<\/strong> Livestock – Virtually no new cash market info to digest from yesterday in cattle, other than the new showlists which are once again smaller than the prior week.\u00a0 We saw a somewhat light slaughter posted yesterday and from the packers\u2019 perspective this might be needed to support boxes and calm down cash trade a bit.\u00a0 […]<\/p>\n","protected":false},"author":4,"featured_media":1785,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n
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