At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of Friday’s On Feed report, with quiet direct cash cattle trade activity. National Beef Packing Company is set to resume production at its Kansas facility after a fire. Demand was high at the Herreid Livestock Market in South Dakota for finishing-type cattle. Alfalfa hay was weak, while grass hay and corn stalks were steady to weak. Boxed beef closed lower, and estimated cattle slaughter was down. Lean hog futures were mostly higher, but cash hogs closed lower. The weekly feeder pig report showed a decrease in early-weaned pig prices and an increase in feeder pig prices. Butcher hog prices remained steady, and pork values increased.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of Friday’s On Feed report, which showed placements much larger than pre-report expectations. April live cattle closed $.87 lower at $187.50 and June lives closed $1.60 lower at $182.90. April feeders closed $3.12 lower at $251.50 and May feeders closed $4.30 lower at $253.77. Direct cash cattle trade activity was quiet Friday following the active day Thursday. Packers aggressively competed for fed cattle, which did result in some pretty impressive prices. For the week Live deals in the South were marked at mostly $188, $2 higher than the previous week’s weighted averages. Dressed business in Nebraska and Iowa was at mostly $302, $4 higher than the prior week’s business. In a statement to Brownfield Friday, National Beef Packing Company said the company is expected to resume production at its Liberal, Kansas harvest facility Monday (March 25, 2024) following a fire that halted operations Thursday and ...
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