Pressure on Cattle Prices
Livestock Morning Outlook
Downturn in stock market could weigh on cattle as countries Europe and Asians countries go into lockdown as COVID quickly increases. The dropping cattle prices of late have been a Catch 22. Feedlots have held cattle as prices drop and “hoping” for a rally. The cattle continue to gain weight and they put pressure on prices even more.
Pork cutout was down 3.03 Tuesday with a 10.86 decline in prices of hams. Loins were also lower down 98 cents with a drop of 2.69 in Picnics. Ribs were up 3.43 and butts up 70 cents bellies were of 26 cents. Movement of 444 loads fairly good compared to last few days. All primal cuts are now lower than the 5 day average.
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