Page 1
Friday, May 01, 2015
Friday, May 01, 2015
Number 18- Volume 08
WEEKLY COMMODITY AT A GLANCE
CBOT Soybean
Last
Week
Last
Year
3.63
3.67
4.86
968.50
969.75 1,480.75
$2.55
$2.05
99.76
Loose Lard, Chicago Basis
UNQ
UNQ
UNQ
Edible Tallow, Chicago Basis
0.28
0.28
0.46
Beef Trimmings, 90% Fresh
299.50
299.00
250.00
Pork Cutout
Beef Trimmings, 50% Fresh
110.00
135.00
135.00
$1.40
Aust/NZ Blend Cow 90% EC Spot
241.00
243.00
214.00
$1.15
13.76
13.77
15.82
112A 3 Ribeye Roll, Lip-On CH
865.00
860.00
715.00
116A 3 Chuck Roll, Neck-Off CH
320.00
332.00
270.00
168 3 Round, Top (Inside) CH
290.00
297.00
270.00
180 3 Strip Loin, Bnls, 0x1 CH
825.00
775.00
655.00
136 Coarse Ground 73%
205.00
225.00
195.00
189A 4 Loin, Tenderloin, PSMO CH
Cattle-Fax, 6-State Fed Steer Price
Select Hams 20/23
$1.80
158.85
161.51
146.11
60.00
61.00
106.00
$0.93
J
J
A
S
O
N
D
J
F M A
Source: Urner Barry
2014
2015
$0.65
$0.40
J F M A M
Source: Urner Barry
J
J
A
S
O
N
EST. DAILY CATTLE SLAUGHTER
M
T
W
TH
F
S
TW 105 115 115 115 109
7
LW 110 110 110 105 105
4
*LY 114 121 119 121 119 17
EST. DAILY HOG SLAUGHTER
544
1/4 Tr Boston Butts 9/dn
110.00
97.00
169.00
Spareribs, Light, Fresh
183.00
175.00
170.00
Fresh Pork Trim (42%)
25.00
23.00
61.00
Fresh Pork Trim (72%)
61.00
53.00
120.00
Carcass Lamb Y4+55/65
352.00
352.00
330.00
Lamb Cuts, 204 Rack, 8-Rib, 7/Up
820.00
820.00
865.00
Lamb Cuts, 206 Shoulder, Cross Cut
280.00
280.00
295.00
Lamb Cuts, 232 Loin Trmd 4x4
530.00
530.00
540.00
EST. DAILY CALVES SLAUGHTER
Lamb Cuts, 234 Leg, Boneless
550.00
560.00
565.00
Carcass Veal, Hide-off, 255/315, NC
465.00
TW
2
2
2
2
2
0
10
LW
2
2
2
2
2
0
10
*LY
3
2
2
2
2
0
11
EST. DAILY COW & BULL SLAUGHTER
925.00
Veal Cuts, 332 Loin, 4x4 Trim 12/18
Veal Cuts, 348A Leg, TBS 3-Pc 24/32
625.00
800.00
800.00
620.00
1,295.00 1,295.00 1,100.00
Quotes represent the high side of Friday's trading range
610
TW 429 429 426 425 420 35
2,164
LW 430 432 428 428 417 49
2,184
*LY 344 415 408 415 411 23
2,015
EST. DAILY SHEEP SLAUGHTER
7
9
8
7
9
8
8
F
LW
TW
8
8
S
M
8
6
0
8
7
0
39
8
6
0
39
T
W
2
20
21
21
37
TH
4/17 4/18 4/20 4/21 4/22 4/23
22
22
4/24 4/25 4/27 4/28 4/29 4/30
Total
108
Total
23
3
18
22
22
21
109
*LY 23
2
21
22
23
23
114
*Last Year's numbers are rounded
M
J
J
A
S
O
N
D
Last
Week
Last
Year
0.783 0.783
15.564 15.394
1.216 1.217
120.230 118.881
6.202 6.193
3.015 2.963
1,080.000 1,076.000
30.670 30.780
1.119 1.087
COLD STORAGE STOCKS
(Pounds in Thousands)
3/31/14
2/28/15
Beef in Freezer, Bnls
450,482
364,771
Cuts
41,346
41,016
Total Beef
405,787
491,828
3/31/14
2/28/15
PORK & OTHER
Pork in Freezer, Picnics
9,080
19,339
Hams
89,452
127,712
79,721
Bellies
67,794
Loins
45,884
41,470
Spareribs
106,781
120,606
Butts
35,641
20,163
36,871
Trimmings
67,454
94,722
Other Pork in Freezer
105,917
575,539
Total
686,063
2,921
Veal in Freezer
9,614
Lamb & Mutton in Freezer
28,076
36,771
Total
30,997
46,385
0.927
13.006
1.097
102.230
6.259
2.222
This
Week
566
140.00
840.00
D
FOREIGN EXCHANGE RATES
142.00
840.00
N
2014
2015
Total
67.00
Veal Cuts, 310 Shoulder Clod 14/20
O
$0.74
J F M A
Source: Urner Barry
104.00
375.00
S
$0.60
D
69.00
460.00
A
$0.67
110.00
Veal Cuts, 306 Hotel Rack, 7-Rib 14/20 1,110.00 1,110.00
J
$0.81
$0.90
TW
LW
*LY
J
$0.88
1/4 Trmd. Loins 21/dn
Sq Cut Bellies 14/16
M
Chicken Index
$/lb.
$/lb.
J F M A M
Source: Urner Barry
1,150.00 1,150.00 1,100.00
$1.29
$1.11
57.15
USDA Drop Credit
2014
2015
$1.47
$2.30
59.15
NYMEX Light Crude Oil
Turkey Index
$1.65
$/lb.
This
Week
$2.80
$/lb.
Omaha, US No 2 Yellow Corn
2014
2015
Beef Index
Australia, Dollar
Mexico, Peso
Canada, Dollar
Japan, Yen
China, Yuan (RMB)
Brazil, Real
South Korea, Won
Taiwan, Dollar
European Union, Euro
Despite edging lower from February, March
came in at 102.2 and became the 25th straight
month in which the RPI measured above 100. A
value greater than 100 indicates expansion in the
industry. Same store sales were positive for most
operators and this was the biggest driver of the
Data Updated: April 22, 2015
positive outlook.
1,029.700
30.210
1.387
3/31/15
438,772
41,012
479,784
3/31/15
19,582
100,685
68,657
42,139
113,663
34,426
68,874
98,102
668,559
8,156
34,244
42,400
URNER BARRY’S WEEKLY RED MEAT INSIDER’S REPORT is
available on FoodMarket.com and through Urner Barry’s
flagship service Comtell Online. FoodMarket is available
for $19.00 a month.
© 2015 Urner Barry. All rights reserved. This publication is protected by USA Federal copyright law. Please do not copy or redistribute this information.
Friday, May 01, 2015
Page 2
YS BEEF CUTOUT May-01 v. Apr-24
SELECT
NO-ROLL
CAB
Rib
-1.21%
-4.08%
-1.55%
-2.45%
Chuck
-1.66%
-2.57%
-0.79%
-0.74%
508
Round
-1.96%
-1.89%
-1.69%
-1.64%
456
Loin
0.94%
1.12%
0.30%
1.51%
Brisket
-4.79%
-4.79%
-3.33%
-3.36%
Plate
-3.84%
-3.91%
-3.91%
0.14%
Flank
-5.24%
-4.29%
-4.29%
-1.87%
Total
-1.14%
-1.82%
-1.14%
-0.59%
2014
2015
Live Cattle, 6-State Fed Steer Price
BEEF COMMENTARY
BEEF
BEEF
CHOICE
2014
2015
Million lbs.
Beef Production
404
352
300
J
F M
Source: USDA
A
M
J
J
A
S
O
N
D
2014
2015
Cattle Slaughter
Thousand Head/Week
$1.77
$/lb.
$1.65
$1.53
$1.41
569
496
423
350
$1.29
J F M A
Source: Cattle Fax
M
J
J
A
S
O
N
J
D
M
A
M
J
J
A
S
O
N
D
2014
2015
Cow and Bull Slaughter
160
Thousand Head/Week
1.650
1.600
1.550
1.500
140
120
80
4/27
Source: CME
4/28
4/29
4/30
J
F M
Source: USDA
5/1
2014
2015
Drop Credit
A
M
J
J
A
S
O
N
D
2014
2015
Cattle Weights
839
$16.96
823
lbs.
$15.97
$14.98
807
791
$13.99
775
$13.00
J F M
Source: USDA
A
M
J
J
A
S
O
N
D
YS 50 % Trimmings
J
F M
Source: USDA
A
M
J
J
A
S
O
N
D
2014
2015
Select Grading Percentage
$1.22
29%
$/lb.
$1.14
26%
$1.06
23%
$0.98
4/27
4/28
4/29
4/30
5/1
Source: Urner Barry
$/lb.
A
M
J
J
A
S
O
N
D
ROUNDS: Rounds found slow movement into
both the retail sector as wells as grinding facilities.
LOINS: The loin primal section of the fabricated
carcass was the only area where week/over/week
gains developed. Strips and short loins continue
to find higher trading ranges.
BONELESS BEEF: Fresh 50s were mixed this week
as supplies varied noticeably from packer to
packer. The week ended with light to moderate
trade developing at significantly lower price
levels. This week’s cattle slaughter was higher
than most participants anticipated coming in
at 566,000 head. Fresh 90s were mostly steady
this week. The current call for product was fairly
matched with present inventory levels.
YS BEEF CUTOUT-CH/SE SPREAD ($/cwt)
M
T
W
TH
F
TW
9.27 9.72 10.35 10.70 10.79
*LW
8.21 8.59 8.55 8.90 9.22
1000
600
$3.02
72%
400
$2.99
70%
200
$2.96
67%
0
65%
$2.92
62%
$2.89
4/27
4/28
Source: Urner Barry
4/29
4/30
5/1
J
F M
Source: USDA
1 load = 40,000 lbs.
800
2014
2015
Choice Grading Percentage
YS 90 % Trimmings
RIBS: Rib prices and primal values continue to
slip lower in somewhat of a contra-seasonal
pattern. Select ribs realized the largest week/
over/week declines when looking at primal
sections of the carcass, losing almost $15/cwt
from week prior.
Weekly Beef Breakdown
(# of loads)
17%
J
F M
Source: USDA
SLAUGHTER & BEEF PRODUCTION: Federally
Inspected Slaughter continues to see an increase
the week/over/week number of cattle entering
the slaughter mix. Only a few weeks ago, the
weekly tally was 503,600 head. This week’s
inspected kill was assessed at 566,000, up 22,000
from week prior. Live cattle estimated weights
moved 2 pounds lower to 1344 pounds. Dressed
carcass weights gained a pound, reported now at
815 pounds.
*Last Week's numbers are rounded
20%
$0.90
LIVE CATTLE: At press time, cash cattle trading
was ongoing in the North. Southern sale barns
had completed the weekly trade at $160/cwt for
the live animal, $2/cwt higher from week prior.
Sales so far in the North had occurred at $158/
cwt to $160/cwt, $253/cwt to $255/cwt for the
dressed carcass.
CHUCKS: Demand for chuck cuts was lackluster,
with both the clod and the chuck roll unable to
find traction. Chuck cutouts move lower as boxed
prices and fresh trimmings pushed values down.
100
1.450
$/cwt
F
Source: USDA
Live Cattle Cont. Front-Month Futures
$/lb.
642
Boxed beef and cutout values saw negative
pressure develop early in the week, and as the
week closed, downward pressure remained in
place. Beef processors throughout the week were
seeking clearing prices for chucks and rounds,
as well as briskets and select ribs. Briskets sold
in large volumes, spurred by the price breaks.
Ground beef values moved lower, as demand
remains weak.
A
M
J
J
A
S
O
N
D
Last week
This week
Trim
44.40
91.75
Grind
103.58
140.93
SE
164.18
178.26
CH
375.32
430.60
Source: USDA
© 2015 Urner Barry. All rights reserved. This publication is protected by USA Federal copyright law. Please do not copy or redistribute this information.
Page 3
Friday, May 01, 2015
PORK PRODUCTION
2014
2015
Thousand Head/Week
Hog Slaughter
2,380
2,180
1,980
1,780
1,580
J
F M
Source: USDA
A
M
J
J
A
S
O
N
D
2014
2015
Dressed weights, Hogs
$0.760
$/lb.
217
$0.740
214
$0.720
212
$0.700
209
J
F M
Source: USDA
A
M
J
J
A
S
O
N
4/27
D
4/29
4/30
5/1
Source: CME
Pork Production
2014
2015
2014
2015
USDA Direct Hogs,
Iowa/Minnesota, Carcass Base
520
$1.64
475
$1.34
$/lb.
Million lbs.
4/28
430
385
$1.04
$0.74
$0.44
340
J
F M
Source: USDA
A
M
J
J
A
S
O
N
J
F M
Source: USDA
D
A
M
J
J
A
S
O
N
D
TL Spareribs, Light, Fresh (Vacpak)
$1.90
$1.85
$0.63
$/lb.
$0.60
$0.55
$1.70
4/27
4/28
Source: Urner Barry
4/29
4/30
5/1
4/27
4/28
Source: Urner Barry
4/29
4/30
5/1
TL 1/4 in. Tr Boston Butts 9/dn
$0.70
$1.15
$0.68
$1.10
$/lb.
$/lb.
TL Sq. Cut Bellies 14/16
$0.66
$1.05
$0.64
$1.00
$0.62
4/27
4/28
4/29
4/30
$0.95
5/1
4/27
Source: Urner Barry
4/28
4/29
4/30
RETAIL: Although the week began with mixed
undertones in the fresh pork complex, by
mid-week most items were finding consistent
premiums on balanced to thin inventories and
supportive retail interest. The slight reduction in
slaughter hog weights this week aided in clearing
up excesses in supplies that existed last week.
Bone-in loins gained between $4.00 and $6.00/
cwt during the week while boneless was up $3.00
to $7.00/cwt. Offerings of tenderloins and sirloins
varied more seller to seller than most other items,
leading to more conservative gains of $5.00/
cwt or 2 percent for tenderloins and $1.00/cwt
for both bone-in and boneless sirs. Picnics and
fresh boxed cushion meat were up $6.00 and
$3.00/cwt respectively. Butts were among the
strongest items on the sheet this week, seeing
premiums between $9.00 and $13.00/cwt by
Friday. Spareribs gained $7.00 to $8.00/cwt while
St. Louis style and back ribs were up $10.00/cwt.
5/1
Source: Urner Barry
TL 1/4 in. Tr Loins 21/dn
Sausage Materials (TL) Trim (72%) Fr
Sausage Materials (TL) Trim (42%) Fr
$1.12
$0.60
$0.28
$1.09
$0.58
$0.26
$/lb.
$/lb.
$1.80
$1.75
$0.58
BELLIES: Trade in the belly complex occurred
within a wide range this week as reductions in the
slaughter helped the excess supply situation, yet
without strong foodservice demand, offerings
still varied widely by location. By Friday, 12
through 20lb square-cut bellies traded between
$2.00 higher and $2.00/cwt lower.
$1.05
$1.02
$/lb.
$/lb.
$0.65
HAMS: Ham values were mixed this week as
spots of availability emerged in response to
Mexico’s Labor Day which occurred on Friday
and essentially temporarily shut down exports
to plants there. This was especially noticeable
because leading up to this week, exports to
Mexico had been described as strong. 17 through
27lb bone-in hams ranged between $1.00 higher
and $1.00/cwt lower while boneless hams lost
$1.00/cwt by Friday as a result.
TRIMMINGS: Further processors continued to
seek trimmings this week, which when combined
with a reduced slaughter resulted in full steady
to firm trade throughout the period. Fresh 42s
closed the week up $2.00/cwt. Meanwhile, 72s
gained $5.00/cwt over the course of the week.
Boneless picnics were up as well with gains of
$6.00/cwt seen by Friday.
PORK PROCESSING
ITEMS & RETAIL CUTS
PORK PROCESSING ITEMS & RETAIL
CUTS
Select Hams 20/23
PORK COMMENTARY
While wholesale values began to rise on a
lighter kill and seasonal demand, these gains
were severely overshadowed by appreciation
in hog values. Urner Barry’s pork carcass cutout
climbed gradually throughout the week; going
from $69.29/cwt to $72.47/cwt. During the
same timeframe, Iowa Minnesota hogs rocketed
higher, gaining 15.7 percent on average. The
Urner Barry pork packer margin index for
standard operations declined throughout the
week, reaching ($9.74) by Friday.
PORK PRODUCTION: Total pork production for
the week ending May 2, 2015 was estimated at
463.1 million lbs. This total was .9 percent below
the previous week and 6 percent over the same
week a year ago. Average hog weights, at 285
pounds, were even with last week and three
pounds less than last year.
Lean Hog Cont. Front-Month Futures
$0.780
219
lbs.
LIVE HOGS & CUTOUT
Apr-24 May-01 Change
PORK CUTOUT
Loin
22.71 23.805
1.095
Butt
8.495
9.548
1.053
Picnic
5.041
5.425
0.384
Sparerib
7.843
8.161
0.318
Ham
13.087 13.131
0.044
Belly
10.185 10.472
0.287
Cutout Value
69.286 72.472
3.186
$0.55
$0.21
$0.53
$0.98
$0.18
$0.50
4/27
Source: Urner Barry
4/28
4/29
4/30
5/1
$0.23
4/27
Source: Urner Barry
4/28
4/29
4/30
5/1
4/27
4/28
4/29
4/30
Source: Urner Barry
© 2015 Urner Barry. All rights reserved. This publication is protected by USA Federal copyright law. Please do not copy or redistribute this information.
5/1
Friday, May 01, 2015
Page 4
LAMB
YS Carcass Lamb Y4+55/65
2014
2015
$3.70
YS Boxed Lamb Cuts, 206
Shoulder, Cross Cut
$3.34
$3.14
$3.20
$/lb.
$2.95
$2.94
$2.74
$2.70
J
F
M
A
M
J
J
A
S
O
N
$2.54
D
J
F M A
Source: Urner Barry
Source: Urner Barry
YS Boxed Lamb Cuts, 204
Rack, 8-Rib, 7/Up
M
J
J
A
S
O
N
D
YS Boxed Lamb Cuts, 232 Loin
Trmd 4x4
2014
2015
YS Boxed Lamb Cuts,
234 Leg, Boneless
2014
2015
$5.80
$5.90
$8.50
$5.60
$5.55
$/lb.
$9.10
$7.90
$5.40
$7.30
$5.20
$6.70
J F M A
Source: Urner Barry
M
J
J
A
S
O
N
YS Carcass Veal, Hide-off,
255/315, North Central
J F M A
Source: Urner Barry
M
J
J
A
S
O
N
$8.50
$4.53
$7.90
$/lb.
$4.83
$4.23
$5.20
J F M A
Source: Urner Barry
D
YS Boxed Veal Cuts, 310
Shoulder Clod 14/20
2014
2015
2015
$4.50
$5.00
D
2014
$4.85
VEAL
$/lb.
LAMB COMMENTARY
Lamb carcasses settled at mostly steady price
levels. Boxed lamb cuts were steady to slightly
weaker. Discounts were noted on the legs.
Trading activity was a little slower this week.
$/lb.
$/lb.
$3.45
$/lb.
2014
2015
2014
2015
M
J
J
A
S
O
N
D
VEAL COMMENTARY
Veal carcasses were steady to a little higher in
some instances. Boxed cuts traded within the
previously quoted price ranges. Movement was
reportedly a little better in some areas.
$7.30
$6.70
$3.93
$6.10
$3.63
J
F M A
Source: Urner Barry
M
J
J
A
S
O
N
J
D
F
M
A
M
J
J
A
S
O
N
D
Source: Urner Barry
YS Boxed Veal Cuts, 306
Hotel Rack, 7-Rib 14/20
YS Boxed Veal Cuts, 332 Loin,
4x4 Trimmed 12/18
2014
2015
YS Boxed Veal Cuts, 348A Leg,
TBS 3-Piece 24/32
2014
2015
$13.20
$10.70
$7.70
$12.45
$/lb.
$10.00
$7.10
$9.30
$6.50
$8.60
$5.90
J F M A
Source: Urner Barry
M
J
J
A
S
O
N
$/lb.
$8.30
$/lb.
$11.40
$11.70
$10.95
J
D
2014
2015
F M
A
M
J
J
A
S
O
N
$10.20
D
J F M A
Source: Urner Barry
Source: Urner Barry
M
J
J
A
S
O
N
D
FEEDS: CORN, SOY BEAN, RED WHEAT
Yellow, Omaha Corn No. 2
$5.50
$1,600
2014
2015
$8.00
cents/bushel
$4.00
$3.25
$1,200
$1,000
$2.50
J F
Source: CME
M
A
M
J
J
A
S
O
N
$/bushel
$1,400
$4.75
$/bushel
Kansas City Hard Red Wheat
2014
2015
CBOT Soybean Features
2014
2015
$4.00
J F M
Source: CME
A
M
J
J
A
S
!
EW
ALL N
$6.00
$5.00
$800
D
$7.00
O
N
J
F M
Source: KCBT
D
A
M
J
J
A
S
O
N
D
800-932-0617
shop.meatbuyersguide.com
http://shop.meatbuyersguide.com
Includes all USDA revisions to the IMPS
40 updated cuts • 50 new photos
CUSTOM
COVERS AVAILABLE
© 2015 Urner Barry. All rights reserved. This publication is protected by USA Federal copyright law. Please do not copy or redistribute this information.
Friday, May 01, 2015
Page 5
POULTRY
UB NE WOG Chickens
Cutting Stock 3 lbs & up
$3.90
$/lb.
$0.94
$/Gallon
$1.19
$1.06
$1.11
$1.03
$0.82
J
F M A
Source: Urner Barry
M
J
J
A
S
O
N
J
F M A
Source: Urner Barry
D
UB NE Jumbo Bnls/Sknls
Breasts Tender Out
M
J
J
A
S
O
N
J
$/Gallon
$/lb.
$/lb.
J
F M A
Source: Urner Barry
M
J
J
A
S
O
N
J
F M A
Source: Urner Barry
$1.79
$0.48
$1.68
$/lb.
$0.54
$0.42
$0.36
J
J
A
S
O
N
J F M A
Source: Urner Barry
M
J
J
A
S
O
N
D
J
A
S
O
N
D
2014
2015
$3.55
$2.95
J F M A M J
Source: U.S. Dept. of Energy
D
J
A
S
O
N
D
2014
2015
EW!
ALL N
$1.57
$1.46
$0.30
J
$1.75
M
UB Turkey Meat - Thigh, Fresh
2014
2015
M
$2.35
$1.40
D
UB NE Leg Quarters (bulk)
$/lb.
$2.80
$2.10
$1.30
A
$4.15
$3.50
$1.50
M
Gasoline
2014
2015
$2.10
$1.70
F
Source: U.S. Dept. of Energy
$4.20
$1.90
$3.20
$2.50
D
UB Turkey Meat - Breast, Tom, Fresh
2014
2015
$3.55
$2.85
$0.95
$0.70
2014
2015
$4.25
$1.27
$1.18
$/lb.
ENERGY
Diesel
2014
2015
UB Toms, East, Frozen 16 lbs
2014
2015
$1.35
J
F M A
Source: Urner Barry
M
J
J
A
S
O
N
D
POULTRY COMMENTARY
There still very much remains a split between and future supplies. Retailers and distributors are
the top half and bottom half of the bird for the also caught up in the fray. Securing whole bird
chicken industry. Boneless breast meat and offerings is a challenge and compounded by the
tenders continue to be absorbed at a steady to advancing values being asked. Breast meat and
full steady rate as needs for further processing tenderloins are firm and wanted and are more of
and foodservice are active. The same can likely an immediate issue given their relationship with
be said for whole birds, WOGs, and wings. seasonal cold cut requirements. There’s a sense
Trading ranges for said lines finish the week that frozen thigh meat is building as Mexican
well supported. Whole legs, leg quarters, and buyers do what they can to produce more pork
drumsticks have not improved and selling levels ham based products in light of existing price
trended lower this week so that sellers could differentials. Overall the market is stronger than
keep product moving. The call for thigh meat anticipated as HPAI related events dictate its
is still strong. Offerings are in close balance immediate course.
with demand and spot sales are mostly market
related. As for leg meat, supplies are deemed at
least adequate for needs, which may vary from
buyer to buyer, but are no better than fair.
Contributors:
With the current exception of the parts
segment, the balance of the turkey complex
is a reflection of the intertwining relationships
shared by primary breeders, growers, processors
and further processors. The existing status of
offerings, along with their related prices, has
almost everything to do with the course HPAI is
taking and the impact it will have on near future
Joe Muldowney - joemo@urnerbarry.com
Bruce Longo - blongo@urnerbarry.com
Bill Smith - bsmith@urnerbarry.com
Jim Kenny - jkenny@urnerbarry.com
Russ Whitman - rwhitman@urnerbarry.com
Terence Wells - twells@urnerbarry.com
Russ Barton- rbarton@urnerbarry.com
Gary Morrison- gmorrison@urnerbarry.com
http://shop.meatbuyersguide.com
shop.meatbuyersguide.com
800-932-0617
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Commodity Indecies, Cattle Fax, Daily Beef Quotations, Daily Pork Quotations, Daily Lamb & Veal Quotations, Daily Poultry Quotations, Beef and Pork Futures, USDA Direct Hogs, are
quoted in $/lb; USDA Slaughter is quoted as Head in Thousands; USDA Production is quoted as Pounds in Millions; USDA Weights are quoted in Pounds; USDA Drop credit is quoted in
$/cwt live; Feeds are quoted in $/Bushel; Gasoline & Diesel are quoted in Cents/Gallon.
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