Written Commentary
MORNING LIVESTOCK OUTLOOK
After falling Monday, and now waiting to see how packers pay for cattle this week, Live Cattle took a break Tuesday. Slaughter appears to be coming off the problems packers have had with Omicron with Tuesday’s slaughter 118,000.
The price of negotiated hogs and the prices for formula and future contract hog prices have been steadily moving higher. Kill levels are down. Weights are up a bit, but not to the point like happened when the COVID pandemic hit. Weights have been around 287 to 290 for several weeks. As of the December Hogs and Pigs report, the inventory was down 4 percent and Market Hog Inventory was down 4 percent.
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