THE MEAT MARKET - MARCH 1.2021

Good Morning - I hope you had a good weekend; an explosive spot market continued to be the prevailing theme this past week. It is important to note the increases over the past two/three weeks have been lees abrupt than previous weeks. Is this a case of buyers taking a “breather” or just a sign we have pushed the cutouts to their limits? Offshore prices + interest appear to have stalled as buyers in export markets refuse to continue paying up money for goods. What will give first? Buyers need for product or the packers need to sell it? From a cattle and hog futures perspective; higher priced contracts out front are indicative to steady/higher prices moving forward. It is hard to argue against future contracts; they are the only real indicator of what prices could be like in the future.  Consumer data coming out of the Lunar new year suggests spending is back to “normal”; in some cases, higher than “normal” - Pre covid. This should clear any doubts about Chinese demand; it is here to stay. The recent run up in prices may have been a bit much for the export buyers to absorb; at ....FOR WEEKLY DISTRIBUTION PLEASE EMAIL ME AT [email protected]

FOR WEEKLY DISTRIBUTION PLEASE EMAIL ME AT [email protected]