Written Commentary
LIVESTOCK AM OUTLOOK
Boxed Beef market is moving higher but since it is May and June is far enough away, higher beef doesn’t have to reflect in futures prices.
Corn is higher and cattle are lower is an equation for lower priced feeders.
Hams and loins are working higher, and it is positive to the market. As pointed out in past reports, the cutout has been unbalanced with lower cuts moving higher as loins and hams moved sideways to slightly higher. Bellies can help a market move higher but loins or hams are higher and as cheap as they are now, it is positive.
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