Written Commentary
LIVESTOCK AM OUTLOOK
Primal rib and loin section have been moving higher for the entire rally this year but as of late it has been the middle and lower end cuts that have been pushing boxed beef prices more than the high end cuts.
Weights are low for this time of the year and slaughter numbers are dropping. Packers need hogs. Monday only 259 loads of pork moved. Think of it, for all the hogs killed, less than 300 trucks with 40,000/lbs moved. Of course many more loads of pork were priced, sold and distributed. Packers are using pork to fill contracts first and then selling what is available on open market. Pork has been moving higher.
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