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Live Cattle Futures Moved Up



With first notice day Monday, it was about time Live Cattle futures moved up to begin a converging with cash prices.  June Cattle gained $1.75 and settled at $183.92 about $1.00 lower than cattle in the southwest last week and $6.00 below cattle in the Midwest. Beef prices continue to gain on morning sales but movement was very light with just 23 loads of choice and 9 loads of select.


grazing cattle



The CME Lean Hog Index to the Pork Index is at $9.07.  Packers continue to show positive margins, but the difference needs to be watched.  Summer is usually a time of the year when pork sales slow,  further narrowing to the $8.50 or below would negative for a packers. It would also be negative for producers. Packers would slow kill or cut back on prices paid for hogs.  Weights are increasing indicating packers have begun to slow kill.


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