No Technical Sign of a Peak
LIVESTOCK AM OUTLOOK
It is hard to see beef dropping on middle and lower primals cuts. The US needs low priced beef and will need to import and/or use more beef from the US. But high end cuts are now too high and boxed beef could drop if rib and loin sections lose value, and they are the cuts with the highest value.
There is not an overabundance of hogs in the US. Weights indicate hogs are being moved when they are ready but at the same time, it doesn’t appear packers are fighting over available open market hogs. For one there aren’t enough open market hogs to fight over. Pork carcass price was higher Monday with loins moving higher.
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