Cattle Movement Slow Due to Weather
MORNING LIVESTOCK FUTURES OUTLOOK
Cattle haven’t disappeared – they are in feedlots and as soon as weather allows movement, packers are going to have to push lines to make up for cattle and beef that has been scheduled. Live Cattle traders are not looking at the storm, recent cattle prices or the current price of beef on the daily market. They are anticipating what will likely happen from February on out.
Like cattle, feeder movement was slowed due to weather.
Pork prices have improved due to the light slaughter because of the snow and sub-zero temperatures. Packing plants have fewer people showing up either because they can’t travel on roads or need to stay home with children home from school. But as weather moderates, roads are cleared and schools reopen, look for packers to increase line speed and put more pork into the market. Packers have positive profit margins. They want to kill hogs and need to kill to make up for light movement on contracted pork.
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