Livestock Market Outlook
Using the daily boxed beef cutout or the pork carcass cutout as criteria for pricing cattle or hogs is not what it used to be. Primarily because daily movement is such a small sample of beef or pork sold. Over the past 5 days the average boxed beef movement was 117 loads. At 40,000 pounds per load, that’s 4,680,000 pounds of beef. Using a slaughter of just 117,000 cattle per day with last week’s steer and carcass average of 878 pounds, it is about 102,726,000 pounds. Somewhere there is 98,046,000 pounds of beef or 95.5 percent.
With big Saturday slaughter and packers pushing as many hogs through the plant as they can at this time, hogs are current. Weights have been dropping and when packers are making about $65/head it is easy to see why they are pushing hogs to kill. By the end of this week the year to date slaughter is going to be 1% above a year ago and that’s with packers down or slowed March through April.
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