Pork Sales Good
Livestock AM Outlook
For the week, hog carcass lost $2.10, loins took off $7.15 and hams off $9.08. It isn’t positive. There are growing global supplies but with cheap US Dollar pork sales are good.
Year to date hog slaughter compared to a year ago is up 1.4%. Large Saturday slaughter is making up for processing that was down in the spring.
As was expected, meat packers last week were able to take some money off cash cattle and draw on their own September cattle and contracted cattle for this week’s kill. Choice gained $3.46 over the previous week and Select was $5.87 higher. Daily beef movement was fairly light. The average live steer price lost about $1.20.
Weights are still a problem adding 28 pounds to each carcass over a year ago and could be a problem for a couple months with heavier framed cattle coming back into feedlots.
Labor Day is next week. This week will give an indication for what is ahead by packer slaughter. The lower daily movement indicated packers have been filling contracted beef.
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