Written Commentary
MORNING LIVESTOCK OUTLOOK
Biggest drop in boxed beef prices were rib and loin sections. High temperatures from the Plains down into the Southwest will affect feed performance. Packers are going to be very picky about buying light cattle. There are packers severely discounting light cattle, sorting them off and putting the cattle back on feed in their own feedlots. There was good news for feedlots this week. Grain prices have dropped.
Lean hog trade volume was light Friday. Packers view the Hogs & Pigs Report as negative with fewer hogs going forward. Packers are paying more for hogs than how they can sell pork. Packers need to see kill back over 475,000 to 480,00 per day.
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