Good Size Movement of Boxed Beef
MORNING LIVESTOCK REPORT
Good size movement of boxed beef on 200 loads. When daily beef movement is large, prices go down. The reason, when packers have filled contracted beef orders, when there is more beef needed to fill the orders, the extra beef is sold in the daily market. Yesterday’s downturn in beef and the larger movement could be a one or two day situation, but if it continues it may not positive.
As of last week, US Federal Hog Slaughter was down 2.0% year to date. It does appear packers are controlling and keeping kill down. A year ago the average carcass weight was 214.38 pounds. Now it is 215.27 pounds.
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