Likely Japan Buying Less Pork
MORNING LIVESTOCK OUTLOOK
Boxed beef steady. The boxed beef composite prices has been trading for close to two weeks about $268. Cash markets this week steady to weaker. So far high premiums in the Midwest aren’t being paid. The large spread between the Southwest and Midwest still exists but without the extreme premium prices in the Midwest.
Likely Japan is buying less pork with weak yen to the us dollar and increasing purchases from Brazil. Brazil built their hog industry for the export market. With China backing off purchases, Brazil has made new trade agreements with other global buyers. With a strong U.S. dollar, global buyers are taking Brazilian pork.
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