Livestock Market Outlook
It is a 4 day trading week and live cattle futures has started out on low volume. June Live cattle go off the board on Tuesday and are in line with last week’s cash and this week’s anticipated $1.00 to $2.00 lower.
Starting out the week boxed beef was up but on light movement. When there are nearly the same amount of trimmings and ground beef moved to Choice, it is not a positive sign. The market needs to move large roasts and high end cuts. When the carcass is being ground up or put into trimmings, it indicates top cuts are not bringing normal margins. The US cattle market is known as Choice and Prime beef.
Pork cutout starting the week out lower on moderately good movement. Loins up 2.60 in the morning ended up 62 cents higher. Hams dropped 5.12 in the afternoon down $15 from a week ago highs and bellies up 22.81 on the morning cutout ended up 7.54 higher.
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