Livestock Roundup 3/1/23

Posted: March 1, 2023, 7:39 a.m.

Cattle Summary

Daily Cutout Values

  • Choice: 288.95, Up .61 from the previous day.
  • Select: 279.25, Unchanged from the previous day.
  • Choice/Select Spread: 9.70

5 Area Average Cattle Price

  • Live Steer: N/A
  • Live Heifer: N/A
  • Dressed Steer: N/A
  • Dressed Heifer: N/A

Daily Slaughter

  • Estimated at 126,000. 1,000 less than last week and 1,000 less than the same week last year.

Feeder Cattle Index

  • 02/27/2022: 182.62
  • 02/24/2022: 182.24

Live Cattle

Managed Money Position

 The cyber-related incident at ION prevented the submission of timely and accurate data to the CFTC.  Staff will issue Commitments of Traders reports on an expedited basis going forward and continues to expect that publication of backlogged reports will be complete by mid-March. 

  • As of January 31st, Managed Money were net long 87,833 futures/options.  Broken down that is 110,750 longs VS 22,917 shorts.

Seasonal Trend in Play

  • The next seasonal trend for live cattle starts on March 21st and goes through April 6th.
  • LEJ2023_2023-02-28_15-37-04

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Feeder Cattle

Managed Money Position

Updated each Friday with the weekly CoT Report

  • As of January 31st, Managed Money were net short 2,474 futures/options.  Broken down that is 11,075 longs VS 13,549 shorts.

Seasonal Trend in Play: 

  • March Feeder Cattle Seasonal: 2/18-3/6.
  • GFJ2023_2023-02-28_15-40-12

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Hogs Summary

Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)

Carcass Base Price

Range: 71.00-80.00

Weighted Average: 77.91

Change from Prior Day: -.11

Head Count: 15,122

Daily Hog Slaughter

485,000. 6,000 more than last week and 6,000 more than last year.

     

Lean Hogs

Managed Money Position

Updated each Friday with the weekly CoT Report

  • As of January 31st, Managed Money were net short 7,865 futures/options.  Broken down that is 47,335 longs VS 55,200 shorts.

Seasonal Tend in Play

  • 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.
  • HEJ2023_2023-02-28_15-42-02

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Livestock Feeder Cattle Lean Hogs Live Cattle

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