Boxed Beef Prices Tumbled Tues
MORNING LIVESTOCK OUTLOOK
Afternoon boxed beef prices tumbled Tuesday with big losses for rib sections and loin sections. It is too early to say if this is going to continue or if it was a retailer or several retailers simply not needing orders for a specific time. Labor Day buying is over and retailers may have enough inventory to meets post Labor Day when beef demand normally drops during September.
There is no other way to put it. When hog prices (CME Lean Hogs at 111.26) are higher than the price of pork (CME Pork Index at 103.24) it is negative. It is negative for the packer and packers are going to do whatever they can do to lower prices paid to the producer.
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