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Consumers Continue to buy US Beef

MORNING LIVESTOCK OUTLOOK

Concern the Choice rib primals might have topped out may be unfounded.  Thursday Choice primal rib section were up $11.67 from Wed and on a highest price for the recent move for boxed beef.  Select loin primals were also higher.  Both cuts increasing in price indicate beef buyers aren’t finished holiday buying.  Because exports have been dropping, it appears the consumer in the US, like the previous 2 years, are planning on buying beef for the holidays.  People may be worried about inflation and recession, but they continue to buy beef in the US at least for the holiday season the last quarter of 2022.

Herd of cows

Trade volume was light on Lean Hogs on Thursday. Spec traders took advantage of the light trading to fill small gaps left from Tuesday’s low and Wed high. They  closed below first resistance and remained above the first support price.

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