Sluggish Short-Term Demand
LIVESTOCK AM OUTLOOK
Packers were able to buy cattle steady to slightly lower last Wednesday and Thursday then on Friday picked off a few more. Weights are still running too high in the Midwest and it is evident with the dock on Choice primal rib sections, they don’t want heavy cattle. Continued big movement of ground beef and trimmings show consumer preference.
Fundamentally, if you take out lesser primals such as picnics, butts and ribs and bellies, hams and loins are cheap and reason along with weak US Dollar hogs are moving higher. Hogs are in a non-spot month and speculators have control and use “anticipating” where prices may be in April and months ahead.
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