Cattle Steady to Stronger?
MORNING LIVESTOCK OUTLOOK
Over the past month Choice boxed beef was down $18.64 and Select boxed beef was down $19.14. If this continues, and cattle are steady to stronger, packers will be working in the red. Of course packers should have money from previous profits to remain active buyers as numbers of cattle begin to fall off.
Lean Hogs were slightly higher Friday except for October that closed pennies lower. From the break on September 20, 2022 to Thursday, September 29, Dec lean hogs dropped $12.45. More than likely, lean hogs were higher Friday with Dec closing up 50 cents on end of the month and end of the third quarter profit taking versus anything that might have been construed friendly from Thursday’s Hogs and Pigs Report.
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