Written Commentary
MORNING LIVESTOCK OUTLOOK
The last few days of November into Saturday December 11th, should give a better picture of what beef will do.
When it boils down, COF report with placements the biggest months from now is friendly near term with current strength for beef demand. Futures have been priced expecting a bigger inventory in the late spring and early summer.
Same old story, the CME Lean Hog Index , The CME Pork Index, cash hogs and the pork carcass 5 day average keep slipping lower. Monday the 5 day average cash pork carcass dropped to $87.61. Pork is cheap. Currently the carcass support is at the retail level with expensive bacon that cost more than pork chops, pork roasts or hams and barbeque restaurants and home smokers buying butts. Butts are priced higher than loins and hams is unusual.
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