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Meats Futures Prices

Mon, Oct 21st, 2019
[[ timeframe ]] futures price quotes as of Mon, Oct 21st, 2019.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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Futures Market News and Commentary

Hogs Lower Despite Export Sales Surprise

Lean Hog futures lost 17 1/2 to 35 cents in the front months, pushing Dec futures to $1.65 lower on the week. USDA reported 210,853 MT of pork export sales for the week ending 10/10, just shy of July 31st 2014’s record. Mexico was the biggest purchaser, with a 63% share (132,888 MT) of new sales for the week ending 10/10. The report also indicated that due to the 689% wk/wk increase, our accumulated export sales are already ahead of 2018’s yearly total, with 11 weeks left to add to this record marketing year accumulated total. USDA indicated this report included some delayed reporting. USDA estimated hog slaughter for the week ending 10/19 is at 2.726 million head, up 16,000 head from last week and 167,000 larger than the same week’s total from last year. The Year to date hog slaughter is 101.952 million head, outpacing last year’s slaughter by 3.61%. The CME Lean Hog Index was at $64.90 on Oct 16. The USDA pork carcass cutout value closed higher on Friday by $0.75 finishing the week a... Read more
Cattle Futures Lower on Lower Cash Prices

Live cattle Oct futures were down by $1.925 at Friday’s close, however that couldn’t erase a wk/wk gain, as future contracts finished $1.025 higher on the week. Feeder cattle futures finish Friday down by $0.70 to $1.475 in the nearby contracts, Nov futures lost $0.60 over the week. Cash cattle traded at $107-108 today, and $173 in the meat. That was down $1-2. Managed money grew their CFTC net long position by 79.34% for cattle to 21,543 contracts. In feeder cattle futures managed money was net short 1,277 contracts as of 10/15. The 10/17 CME Feeder Cattle index saw another 45 cent increase, and is up to $145.60. USDA’s weekly export sales report showed a 7.7% decrease in wk/wk beef exports with 15,124 MT shipped. Net sales are on par, 0.27% lower, than the same week last year at 13,045 sales. Wholesale boxed beef prices narrow the ch/s spread to 25.00 at Friday’s closing. Choice boxes finished 7 cents lower to $218.04, with Select boxes showing a gain of $0.44 up to $193.04. USDA es... Read more
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