Written Commentary
MORNING LIVESTOCK OUTLOOK
Choice boxed beef fell Wednesday with steep drop in Choice rib primals and at the same time Select beef was higher, narrowing the spread between Choice and Select. Through the remainder of January expect this type of beef trade. Going forward look for middle meats and lower priced cuts having more demand. Consumer demand is shifting to lesser priced beef now that the holiday season is over.
Wet icy snow across parts of the upper Midwest slowed some movement of hogs, but packers aren’t trying hard to get hogs into plants. Export will be released early Friday morning and will be closely watched by traders. If the Mexican Peso remains strong to the U.S. Dollar, exports should remain strong to Mexico and the U.S. definitely needs to keep Mexico buying pork.
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