Written Commentary
MORNING LIVESTOCK OUTLOOK
LIVE CATTLE
Beef prices were down on Wednesday and again Thursday. Export sales are dropping throughout February and now March to the Thursday morning report to just a minuscule 5,600 MT. At the same time April Live Cattle are discount to cash. The falling boxed beef market is taking away trader’s bullish enthusiasm. With the Dow Jones Industrials lower for the third day there are several reports talking about recession. Consumers and traders are getting concerned demand for beef is going to drop.
LEAN HOGS
Packers are killing just the number of hogs they want, no more, no less. The pork cutout is inching higher, lately the spread between hogs and pork is favoring pork and weights aren’t dropping.
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