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Boxed Beef Prices Dropping Fast

MORNING LIVESTOCK FUTURES OUTLOOK

LIVE CATTLE

Boxed beef prices have been dropping fast. If it wasn’t for Choice primal rib sections, Choice boxed beef would be much lower and that should be a concern once the demand for December holidays and New Years Eve is over.  Top it with the poor exports especially of late and cattle and beef prices could drop much more. Friday’s futures trade was another technical rebound off lows on light volume trading.

 

LEAN HOGS

Traders evened up Friday to close Lean Hogs down but not too far off last week’s Friday closing prices, more in line with how cash hogs have dropped over the past week and bringing December  Lean Hogs closer to the CME Lean Hog Index. With a week to go before December Lean Hogs expire, December settled Friday at $68.42. The CME Lean Hog Index is $69.43

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