Processing
US: Meat price trends 27 Nov 2009
A brief precis of weekly US price trends is as follows...
By Graeme Goodsir
Fed cattle and fed beef cut-out values were generally steady from last Wednesday; lean 90CL cowbeef 3c stronger (fresh domestic on Yellow Sheet in range of 124-127c/lb fob, imported 90CL frozen near 140c/lb); pork carcass cut-out value up 2.5c (to 59.3c/lb); live hogs at auction are up only 1c - to range of 34-39c/lb, with live sow prices much weaker today at Sioux Falls cash market.
Futures markets are up near 2c/lb for pork; steady for cattle & feeder calves; down 20c per bushel for corn (to a range of 376-402c/bu thru May); and up 20c per bushel for soybeans (on stronger world demand - ranging 1046-1054c)
* NOTE: Trends up till Tues November 24
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