Written Commentary
LIVESTOCK MORNING OUTLOOK
Choice Boxed beef was down $7.83 for the week. There are too many overweight cattle and big heavy cuts such as chucks, and rounds are putting out too much beef. Going forward northern and Midwestern feedlots Must reduce weights. Heavy cattle equal too much meat.
For the week, the pork carcass cutout was down 1.79. Loins closed at 69.76 and were down 3.72.. Hams were 88.03 up 5.60 Bellies were 93.30 up 2.61. Butts were down hard losing 12.71, picnics tumbled 11.23 and ribs were off 2.79. Hams and bellies helped with export market but big slaughter, weights increasing this month and prospects of increasing global hog market weighing on hog prices.
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