Pork Prices Are Dropping
MORNING LIVESTOCK OUTLOOK
Cash cattle trade is stalled so far this week. Feedlots are wanting $140.00 in the Southwest and asking $145.00 to $150.00 in the Midwest. Beef prices dropping may change asking prices Wednesday.
Pork prices are dropping. The 5-day average carcass price is down to 124.96. Packers need all the hogs that fill the needs of their previously contracted orders but when orders are filled, they aren’t going to buy any extra if they are losing money especially as weights are dropping.
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