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Beef Prices Steady

LIVESTOCK AM OUTLOOK

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Beef prices were steady Tuesday on light movement, and it doesn’t look like any more if any money is going to be put on beef this week.

This week, ranchers started getting the hay bins and round balers moving in the Midwest. Hay tonnage may be a little less this year, but the quality should be sufficient for beef producers. Ranchers will be watching their hay inventories moving forward.

Weight of hogs are dropping, slaughter is going down, pork is cheap in relationship to other meats, and demand is good.  That’s the plus side. However, by October with China exponentially increasing hog supplies, the demand for pork could fall out of bed unless Mexico, Japan and South Korea increase exports from the US.

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