Written Commentary
CATTLE
As the boxed beef cutout drops, when top two cuts, primal rib sections and loin sections, continuing dropping in price, it is negative. With the 4th of July less than two weeks away demand for high priced cuts after the 4th and into August usually drops and this year they dropped before the 4th of July. Primal rib and loin sections are dragging down Choice beef.
LEAN HOGS
Besides the EU pork producing countries selling pork to China with additional trade agreements made during the US and China tariff war, Brazil made agreements with China and Chinese investors have plowed money into the Brazilian pork, beef and poultry industries. During May 2020 Brazilian pork exports to China were 370,000 tons, up 86% compared to May 2019.
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