Beef Prices Dropping
LIVESTOCK AM OUTLOOK
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Cattle opened down Monday on the news of the JBS fire, but buyers quickly surfaced with Live Cattle lower on the day with continued selling that began last week. December is still $4.87 over October. Spreads from December into 2022 are at premiums to cash and October futures with beef prices dropping.
Hog and Pork prices are dropping while slaughter is going down and weights are going up. The spread is wide for the October/December spread but from December into forward months are narrowing. Most specs are moving out of October.
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