Beef Prices Higher
Livestock AM Futures Outlook
Beef prices Wednesday gained with strength in Choice Primal Ribs, Loins, Chucks, and Briskets. Rounds just off 12 cents. Select rounds higher than Choice rounds. Fairly decent movement especially on Choice beef.
Hams driving pork cutout. Likely Mexican business. There seem to be enough hogs especially packer formula and grid hogs. With poor exports look for down move on futures also traders buying cattle and selling hogs.
Basing hog prices on pork movement on daily prices has become a lesson in futility. It is better to base pork price movement on what changes take place from one week to the next.
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