Written Commentary
MORNING LIVESTOCK OUTLOOK
Net export sales for hogs have started to drop. Net sales as of December 1st were 7,900 MT for 2022 and Net sales were 2,400 MT for 2023. Mexico took 3100 MT for 2022 and none for 2023. However, it isn’t unusual to see Mexico back off this time of the year but it was disappointing to see they reduced purchases by 4,000 MT for 2022.
Over the past 5 days Choice boxed beef has bounced like a yoyo led by Choice primal ribs. What does the fluctuation mean. First of all, a few buyers needed rib and loins and paid what the seller asked. But more importantly, it says don’t pay a lot of attention to daily beef movement because total loads sold are just a miniscule part of all beef moved.
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