Written Commentary
LIVESTOCK AM OUTLOOK
Boxed beef has beef rallying for several months. First rib and loin sections were the power behind the rally and over the past month mid-priced and lower primal cuts have been narrowing the gaps.
However, since the JBS cyber-attack, the beef market has been like it is on a spring board. Choice beef in 2 days has gained $9.19 cents but the loads moved are light with only 138 moved on Wednesday.
Hog slaughter was down 44,000 head Wednesday because of the JBS cyberattack.
Average 5 day carcass price keeps moving higher. Packers are making money and fewer hogs killed mean hand to mouth buyers have to pay up on light loads moved.
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