Lean Hogs Resumed Down Move
MORNING LIVESTOCK OUTLOOK
Lean hogs resumed their down move Wednesday. The pork carcass price dropped to $79.38 and pork movement has been increasing over the past week. Slaughter was on the light side at 487,000 head and with pork movement increasing as it goes down, it suggest packers have fewer contract pork orders and need to sell more pork on the daily market.
Cattle slaughter was down Wednesday at 120,000 head but it didn’t seem to help the beef market. There is blowing snow in Colorado and parts of Nebraska that may have slowed some trucks moving cattle, but the beef market down at the same time there is a light kill, the packers wouldn’t want more cattle.
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