Below is a chart of the Box beef a metric of retail demand for beef.It literally is sold in a boxes thus the term Boxed beef. It ran up smartly when people were preparing for end of the world and now selling off as demand worries and possibilities of Less capacity for Slaughter as plants may shut down due to workers sick or state wide lock downs. It appears it sill has room to move lower.
Same story holds true for Hogs, Below is the Carcass values for Hogs, Comes out twice daily it is a metric of Retail demand. Quite a drop in prices isn’t it?The best thing for loww prices is low prices the worry is when will someone realize Hogs at this price are Cheap Helps explain a bit on why Hogs trade limit down these last few days.Also Quarterly Hogs report out earlier this week reported ample supplies.