Livestock Roundup 10/17/22
Posted: Oct. 17, 2022, 9:04 a.m.
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Cattle Summary
Daily Cutout Values
Choice: 246.98, Up .45 from the previous day.
Select: 216.94, Up 1.08 from the previous day.
Choice/Select Spread: 30.04
5 Area Average Cattle Price
Live Steer: 146.77
Live Heifer: 146.78
Dressed Steer: 231.61
Dressed Heifer: 231.65
Daily Slaughter
Estimated at 112,000. 5,000 less than last week, but 5,000 more than the same week last year.
Feeder Cattle Index
10/06/2022: 174.11
10/05/2022: 174.03
Live Cattle
December live cattle futures continue to linger along the 100 and 200 day moving average, for about three consecutive weeks now. We've been looking for the market to retrace some of the breakdown points from the end of September, but it has been reluctant to do so, part of it may be due to the uncertainty in the outside markets. We remain optimistic that futures can get back to 149.575-150.00, but patience is waning.
Seasonal Trend in Play: April live cattle have been higher from October 5th-November 11th for 13 of the last 15 years.
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Hogs SummaryDaily Direct Hogs Plant Delivered (as of 1:30 PM CT) Carcass Base Price Range: 80.00-96.00 Weighted Average: 92.47 Change from Prior Day: -1.46 Head Count: 5,244 Daily Hog Slaughter 473,000. 7,000 less than last week but 2,000 more than last year. |
Lean HogsDecember lean hogs were able to chew through resistance on Friday, which opens the door for a further relief rally. If the Bulls can defend Friday's strength, we could see the market attempt to close the small gap left from September 23rd, 85.25-85.375. Upcoming Seasonal Trend: December lean hogs have been lower from October 15th-November 6th for 12 of the last 15 years. |
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Hogs Summary
Export Sales
Pork: Net sales of 29,900 MT for 2022
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 81.00-95.00
Weighted Average: 89.26
Change from Prior Day: -1.03
Head Count: 8,887
Daily Hog Slaughter
491,000. Up 2,000 from last week and 17,000 from last year.
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