Written Commentary
MORNING LIVESTOCK OUTLOOK
The pork carcass has been slowly improving. Loins average 82.74 and have gained around 2.75 over the past week but hams at 74.83 have been flat priced and are cheap. Bellies have gained and over the past 3 days are trading over $100.00. However, movement has been fairly light as packers cut kill. Weather may slow hogs with areas of the Midwest receiving rain, icy roads and snow.
Live Cattle traded lower on light volume Tuesday likely quick spec profit taking after Monday’s rally . Boxed beef was higher in the morning but Select beef continues to narrow the difference on the Choice to Select spread.
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