China, Brazil’s biggest national consumer of exported meat, has lifted its ban on meat from Brazil. The ban will remain in place on exports from 21 specific processing plants.
The Cattleman's Advisory
Brazilian meat Scandal – Federal police launched raids in five states against 40 Brazilian meat companies, including JBS SA. Charges are for bribing sanitation officials to pass meat inspection.
Cash sales for the week were mostly 3$ higher at 128, with Iowa seeing 134. Dressed sales occurred at 202$. Basis is plus 10$ over April futures.
The contradiction in the cattle markets increased this week, with cash setting yearly highs and boxes up 20$ from February but with deferred futures settling lower
Cash sales for the week ranged between 119 and 120, and 188 to 190$ dressed.
Cash sales closed the week mostly 119 to 119.50 and 190$ dressed. Basis appears to be 2$ over February futures.
Cash sales closed the week mostly 122$ in Texas and 194$ dressed in the North.
Cash sales closed the week mostly 122$ with 123$ in Texas, and 195$ dressed. Basis appears to be 3 over February futures. Lower cutout and higher cash has squeezed packer margins into the red.
Cash sales hit 119/120 on Wednesday and closed the week 118$ to 119, and 190$ dressed. Basis appears to be even with February futures.
Cash sales held steady this week at 118$ and 188$ dressed. Basis appears to be 3$ over February futures