Written Commentary
LIVESTOCK AM OUTLOOK
The reversal on Live Cattle Charts, with boxed beef coming off the lows and now with the daily price of boxed beef over the 5 day average are indicators Live Cattle futures may have put in a low. At the same time, the spread between Choice and Select box beef is narrow and slaughter levels are down can be indicators the reversal on futures was simply profit taking.
Thursday there 360.83 loads of pork sold and 50.33 loads of pork trimmings sold. The daily pork cutout was up $ 3.64 with Loins up $ 11.90 and hams up $ 9.77 . Picnics were down $ -14.70 and bellies were down $ -1.36 with Butts up $2.40and Ribs up.76. Primal cuts on the daily pork sheet have become extremely volatile.
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