Boxed Beef Movement Has Been Down
MORNING LIVESTOCK OUTLOOK
Live Cattle futures and boxed beef have had the jitters for a week and the uncertainty with banks didn’t help Monday. Boxed beef movement has been down as packers are buying just enough cattle to fill contracted beef orders and the small amount of beef sold on the daily markets.
The CME Pork Index has been slowly gaining on the CME Lean Hog Index. As it does, packer profit margins get better. It isn’t to the point where packers are going to push hard to slaughter more hogs but s long as margins are increasing, it is at a point where are going to push hard to increase slaughter but when hogs are available, they won’t hold back
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