Written Commentary
AM Livestock Outlook
Packers have worked through their August contract and their own cattle in the North and Midwest. With packer profits and the rapidly moving higher boxed beef market, packers are going to need cattle unless the move on boxed beef is primarily for Labor Day and the retailers that buy hand to mouth are caught short for holiday specials.
Year to date hog slaughter compared to a year ago is up 1.1%. Large Saturday slaughter is making up for processing that has slowed. It certainly doesn’t hurt packers are making money and want to push as many hogs through the kill line as possible.
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