Gain on Hams And Bellies The Best Primals
On one day’s trade and a Friday trade cannot definitively say but action of both cattle and hogs appears to be unwinding of long hogs/short cattle spreads and unwinding or just profit taking on the bear spread cattle and the bull spread lean hogs.
Could be quiet week ahead of reports.
Cutout gained last week $6.28 for the week. Gain on hams and bellies the best primals. Carcass selling remains a large part of movement especially to China. China is buying more offal this year from US that normally accounts for $4.00/cwt. China is world’s largest buyer of feet, heads, tails, and organ meats.
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