Written Commentary
MORNING LIVESTOCK OUTOOK
Live Cattle futures were lower Thursday as long traders took some profits and spreaders were selling cattle and buying hogs. Spreading was noticeable because trade volume for the day on hogs and cattle were very similar.
Boxed beef prices improved Thursday morning with Choice primal rib sections moving up $11.56 and by the afternoon they were up $17.49 with 3,782,360 pounds of Choice beef sold and 1,353,753 pounds of Select moved. Demand for beef is strong. Seasonally, Choice rib sections improve with demand from November and December holiday needs.
The pork carcass is back to doing its yoyo trading. Pork primals fluctuate because daily sales are such a small part of total pork sold. Primal cuts like hams are up one day $23.61 and down the next day $21.23. Thursday morning loins were up $10.30, butts down $12.57 and bellies were $19.18 higher.
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