Beef Prices up on Demand
LIVESTOCK MORNING OUTLOOK
With a kill of 122,000 beef prices are going up on demand. Current demand is a squeeze play of who has beef and who needs beef, primarily Choice rib sections, to fill previously contract sales. Choice primal rib sections in a month are up $125.37.
Packers are shoving hogs through the line and before long could be back to 500,000 head per day. The CME Hog and Pork Index have been losing day after day. Into 2021 as global hog numbers increase, US hogs are vulnerable if exports drop.
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