Choice Boxed Beef Higher Early
MORNING LIVESTOCK OUTLOOK
After falling for three days, Choice boxed beef was higher Tuesday on early sales. It remains under the 5 day average which is often an indicator beef is moving down. It should be remembered that daily sales can be for beef delivered immediately and up to 21 days. If delivered in 21 days which is close to when it is being delivered, it could be for retailers that are finishing up purchases for December holidays.
Feeders were down Tuesday as corn and wheat were higher.
Producers that sell negotiated hog aren’t keeping hogs to put on more weight. They want to sell as soon as they are ready. On the other side of the fence, packers are moving hogs they own or sell on the heavier side. Producers that have contracts aren’t as concerned with price declines but producers seeing cash hogs drop in price and slaughter increasing don’t want to keep them on feed any longer than needed.
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