Written Commentary
MORNING LIVESTOCK OUTLOOK
Choice boxed beef was slammed Monday. Choice fell $6.62 with Choice rib sections down $27.61, Choice loins dropped $7.29 and other Choice primals fell except Choice flanks. Demand for the holidays ran rib and loin sections higher bring up the total beef cutout price. It helped to move the cattle market higher. It is a bit early to say for certain, but if the beef market seasonal demand is over, packers are likely to move cash cattle prices down.
Lean Hogs moved up to new contract highs Monday but didn’t have any follow through buying and ended the day mixed, a few pennies higher to a few pennies lower. Trade volume was light. With pork prices at current levels, and what appears to be weak exports into 2023, there isn’t a lot of incentive to push prices for hogs or pork higher.
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