Written Commentary
MORNING LIVESTOCK OUTOOK
Not only are boxed beef prices dropping, but Choice beef is also losing to Select. A week ago, the Choice/Select spread was 23.37 and as of the Tuesday, July 13th, the spread narrowed to to 16.60 and morning sales the spread was at 13.63.
Fewer total hogs going to slaughter and the hogs available that make up the meat that is sold on the daily open market are the main drivers why pork and hogs have moved off the lows of two weeks ago.
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