October 1, 2007

 

US livestock market fundamental recap

 

 

A summary of fundamental data for beef and pork markets appears below. Data are as of Thursday (September 27).

  

Beef Complex

 

The US Department of Agriculture reported the choice grade boxed beef cutout value Thursday up US$0.39 per hundredweight at US$147.40. Select was up US$0.58 at US$138.29.

 

The choice/select spread was US$9.11 compared with US$9.31 the previous day. The number of loads reported for fabricated cuts was 216 and for trimmings and coarse grinds was 118.

 

The latest operating margin index for beef packers was minus US$28.50 per head, compared with minus US$30.40 the previous day. The weekly average is minus US$32.43.

 

The latest Chicago Mercantile Exchange feeder cattle cash index quote was down US$0.06 at US$115.93.

 

Thursday's cattle slaughter was estimated at 122,000 head.

 

Pork Complex

 

The USDA pork cutout value for Thursday was US$61.20 down US$0.95 from the previous day.

 

The Dow Jones packer margin index for Thursday's operations was at plus US$3.34 per head, compared with plus US$4.00 the previous day.

 

The live hog equivalent price, based on 51 percent to 52 percent lean carcass values, for Thursday was US$41.97 down US$0.92 from the previous day.

 

The projected value for the two-day average CME lean hog index for Wednesday was US$62.69 down US$0.76 from the previous day.

 

The USDA estimated Thursday's hog slaughter at 420,000 head.