Slowing Consumer Demand?
MORNING LIVESTOCK OUTLOOK
August 2021 Live Cattle went off the board Tuesday at $118.95. With August ending at $118.95, the negativity moved futures down on other months with continued spreading. October closed at $7.95 over August and December is $4.57 over October and $14.52 compared to where August closed.
During September look for high end cuts, primal rib and loin sections to fall from recent highs and chucks, rounds, flanks, and plates to narrow the spreads between rib and loin sections.
The CME Lean Hog Index and Pork Index have been dropping and are keeping a lid on Lean Hog when when they rally. Volume has been moderate and selling essentially without hedging with futures discount to current cash and discount to October Lean Hogs.
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