Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Is a change in boxed beef prices taking place?
A change has started in boxed beef prices. A year ago on July 6, 2025 choice boxed beef was $390.98 and select beef was $377.53. As of July 6, 2026 choice beef was below a year ago at $386.48 and select was $365.87. Beef is dropping even though year to date slaughter is down 8.5% and year to date beef production is down 5.9%. The change has a lot to do with beef imports up 10%.
LEAN HOG COMPLEX
Pork prices have been inching up. Last weeks exports were very good which is a big reason for the better prices. Hams and bellies moving higher are also an indication that exports to Mexico are increasing. US pork needs strong exports to Mexico.
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