Written Commentary
MORNING LIVESTOCK OUTLOOK
Lean Hogs had a roller coaster trade over the past week. February Lean Hogs moved from a high on Friday November 25th at $90.15 to a low on the open Wednesday 30th at $83.72 and closed Friday 2nd at 90.42. There are traders that feel in 2023 hog numbers will drop. But current fundamentals are supporting it. The CME Lean Hog Index is down for the week as is the CME Pork Index.
Choice beef prices are dropping. There are 20 days left until Christmas and a 26 days to New Years. Any beef needed for the holidays is going to come from retailers needing beef to fill in short supplies. Essentially the seasonal demand should be over. As movement shows there still is big demand for ground beef.
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