Livestock Roundup 1/31/23
Posted: Jan. 31, 2023, 8:39 a.m.
Cattle Summary
Daily Cutout Values
Choice: 268.10, Up .34 from the previous day.
Select: 251.52, Down .98 from the previous day.
Choice/Select Spread: 16.58
5 Area Average Cattle Price
Live Steer: 155.25
Live Heifer: 155.49
Dressed Steer: 247.72
Dressed Heifer: 247.37
Daily Slaughter
Estimated at 126,000. 2,000 more than last week and 7,000 more than the same week last year.
Feeder Cattle Index
1/27/2023: 179.88
1/26/2023: 179.57
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Live Cattle
Managed Money Position: Managed Money are net long 84,672 futures/options contracts, down 6,817 from the previous week. Broken down, that is 110,091 longs VS 25,419 shorts.
Next Seasonal: A seasonal that has played out for 13 of the last 15 years starts January 29th for June live cattle.
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Feeder Cattle
Managed Money Position: Managed Money are net short 5,951 futures/options contracts, down 5,993 from the previous week. Broken down, that is 9,919 longs VS 15,870 shorts.
(Updated with the weekly CoT Report)
Seasonal Trend in Play: None
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Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 64.00-72.50
Weighted Average: 70.08
Change from Prior Day: -.55
Head Count: 4,126
Daily Hog Slaughter
491,000. Up 2,000 from last week and 14,000 from last year.
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Lean Hogs
Managed Money Position: Managed Money are net long 10,663 futures/options contracts, down 12,072 from the previous week. Broken down, that is 45,001 longs VS 34,338 shorts.
(Updated with the weekly CoT Report)
Next Seasonal: August lean hogs have firmed from January 30th to March 8th for 12 of the last 15 years. The average rally in the 12 positive years was 4.42. The average decline in the two off trend years was 3.69.
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