Written Commentary
MORNING LIVESTOCK OUTLOOK
Pork prices fell on early sales Wednesday but when there are only 133.31 loads sold, need to see several days of movement to verify. The 5 day average carcass price was $1.35 lower. Pork export sales at 29,000 mt were good but unlike a week ago China was a light buyer.
The cattle industry currently has too many low grading cattle and too much Select and lower grading beef. For the consumer, have larger supplies of lower grading beef is not all bad. For the consumer where inflation is a major concern who doesn’t buy steaks and buys beef as a protein source blending more Select and low grade beef keeps prices from increasing. For the consumer that buys Choice cuts, they may not like high prices, but they will continue to buy Choice beef.
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