Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Choice boxed beef prices were higher Tuesday morning and slightly lower by the afternoon due to the big move higher rib primal on seasonal demand and light load movement. At the same time select beef prices continue to gain on choice beef which is highly unusual at this time. It is indicating after the holidays that choice beef is likely to be lower when seasonal demand stops.
As of yet, the USDA has not proposed an ending of the quarantine on Mexican cattle, but it could happen anytime. Lowering food costs is a top priority for all in Washington DC.
LEAN HOG COMPLEX
Pork production for the week was down 3.3% and down 1.5% year to date.
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