Hogs fill the upside gap but fail to hold it. September 5, 2023
Mixed trade was seen for the cattle complex. Last week's cash trades were steady/lower. Wholesale beef may begin to support.
Showlists, offered supplies of finished cattle for packers this week, were estimated +10,500 from last week.
USDA's Friday afternoon estimate of the week's cattle kill came to 629,000 head. Our morning estimate was 624,000. This week's run comes with the prior four weeks that ran 605,000 - 626,000. Compared with the prior year it was -2.1%. The prior six weeks ran -6.6%.
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