Written Commentary
Livestock Outlook
Small beef movement to start out the week with movement only 94 total loads. From a week ago there has little change on Choice beef but Select is lower. With small posted daily movement it is likely beef is being contracted farther out than the mandatory reporting of 0 to 21 days. Big drop on Select rib sections of $12.40 and Select rounds above Choice rounds. Select beef going to trimmings and ground products.
Some region must have a big tomato crop for August and needed bellies. Don’t get too caught up with primal morning and noon daily hog price fluctuations. Large buyers are composite pricing and contracting within swaps market. Compared to last month daily movement has been dropping. But look for another week of strong exports.
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