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Problem With Beef is Low Exports

MORNING LIVESTOCK OUTLOOK

Going forward after the holidays, beef prices will depend on the number of cattle available.  If cattle on feed continue to drop and unemployment remains low, beef should remain strong.  Currently, the biggest problem with beef is the low exports and going forward because of global competition, it is hard to see any substantial increase in beef exports from the U.S.

cow in field

Thursday Lean Hogs reversed the earlier week down turn.  Nothing fundamental changed the markets except December Lean Hogs moved 22 cents to $83.12 and the latest CME Lean Hog index was down 32 cents to $83.89 to meet as hogs converge.

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