Written Commentary
MORNING LIVESTOCK OUTLOOK
Monday, beef load movement is one of the lightest days of the week. There was a time, traders waited to see retail movement over the weekend and light movement was negative.
Beef prices have been doing quite well from high end rib and loin sections to lower end cuts. Rib and loin sections need to remain high.
Hogs gaining on Index is not good. It is still positive, and packers are making money but as it narrows it is negative for packers profit margins. But, have to look at movement of late and it is light.
Hog weights normally this time of the year don’t go down. Weather conditions without high heat and especially high humidity are ideal for growth. At this time it appears hogs are moving to slaughter as soon as they are ready. Of course high feed cost might have something to do with slow weight loss.
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