Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
By Friday, a few more cattle sold at $173.00 to $174.00 with a few which is down $1.00 to $2.00 from earlier in the week. The spread between Choice boxed beef and Select has been widening. Normally, this is a positive indicator that beef prices will move up. However, now demand has been dropping for both grades and cheaper Select beef offers consumers a less costly product.
LEAN HOGS
For November the pork carcass is down about $2.00, not a big move but when looking at individual primals, it is loins moving down the price, hams were steady and bellies down around $11.00 for the month. To move pork prices higher loins and hams have to move up. There are more hogs with weights going up. For now, it is an indicator for a continued down slide unless pork demand can increase.
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