Livestock –
Other than on the Fed Cattle Exchange cash cattle sales were pretty quiet. In my opinion, sales on the Fed Cattle Exchange were a bit of a disappointment. The sales weighted average price was basically equal to last week, at $110.47 it was up $0.19 from last week. The disappointing part was only 3,249 head out of 7,753 sold; that is about 42%. We should start to see action in the country pick up today and tomorrow. With cold weather pushing across the country today and this weekend, we may see some feeders in the north want to get rid of any ready cattle. Spot LCZ is still holding a premium to cash prices, so I guess the market has hope sales in the country today and tomorrow will be better than what we saw yesterday. Cattle deliveries remain at 0. Cutout was mixed yesterday but packer margins should remain strongly positive.
For the week ended Dec 16, The IA-MN weekly avg hog weight was down 0.5 lbs to 280.7; that is roughly 2.3 lbs lighter than last yr. Seasonally we should see weights increase a bit into the end of the year. Cash hog prices continue to defy seasonal trends and climb with the National Avg carcass price at $53.40, up $0.10 on the day.
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