Cattle Markets Are Higher
LIVESTOCK AM OUTLOOK
Boxed beef prices are dropping but with cash cattle prices down, packer margins remain excellent. The reality, when packers are making as much as they are now, they are going to kill as many cattle as possible. Going into the end of the year, it is likely to see packers pay higher prices but only for cattle that meet the weights packers want. For overweight cattle, Yield Grade 4’s and 5’s, the feedlots won’t benefit from higher prices, just the opposite and will likely see wider and deeper discounts.
For the week the pork cutout was up $1.54 Both loins and hams were up for the week but overall pork movement has been down on daily market. Pork is selling but in US markets is competing with cheaper ground beef and chicken.
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