MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Live Cattle totally reversed last week’s gains. Packers are tightly controlling slaughter. Packer margins are in the red. In the Southwest they have fewer cattle for slaughter that are Choice. They won’t buy more cattle than the orders they have for beef.
LEAN HOGS
Daily pork prices were up Monday on fairly light movement. Loins gained $2.17 and Hams were up $1.68. Hog prices have been dropping on increasing slaughter. The daily prices were higher but the average prices did little with the carcass at 87.86. Kill was dropped on Friday 6000 hogs and increase in prices likely due to pork that wasn’t cut over the weekend. But pork is cheap and many consumers are concerned about current and future household budgets. Pork could get a boost in price as consumers look for ways to reduce costs.
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