Cattle is Higher as Hogs are Lower
Livestock AM Outlook
Heavy weight cattle are one of the biggest problems now. Lighter cattle are in the South and Southwest with feedlots asking $108.00. Midwest cattle could again this week be priced under South and Southwestern cattle.
With large loads of trimmings and ground beef being moved and increasing COVID 19 cases in the US and globally, if it trend continues or increases, it may be an indicator consumers are hoarding as they did in March. Cities across the US are seeing surges and consumers although not locked down are beginning to withdraw on their own.
Trade volume in lean hogs picked up in the afternoon and cutout was down 4.31 Now, all primal cuts are below 5 day moving average. Hog weights remain high. Seem to be plenty of hogs.
Trade wasn’t too excited about trade deal with Viet Nam. Shucked off the positive news and traded lower Wednesday however.
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