Written Commentary
MORNING LIVESTOCK OUTLOOK
Indicators show boxed beef likely has topped. Choice and Select beef are now below the 5 day average. Choice Chucks, Rounds and Briskets are below Select prices. Key reversals on October on out. Cattle slaughter is going to be less in 2023, fewer cattle and there will be lighter cattle.
Pork prices were up early Wednesday. For the day the carcass gained 1.28 and the 5 day average was 51 cents higher. Loins were up 1.28 and hams lost 1.22 cancelling sales. Bellies gained 5.80 with ribs, butts and picnics up on morning sales.
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