Written Commentary
LIVESTOCK AM OUTLOOK
In a nut shell, Cattle on Feed Report shows fewer cattle are to be expected. Cold Storage Report showed packers are moving beef and pork. Report was friendly.
Hog futures trading is light. Kills are light and demand for pork is good. There is nothing bearish about the hog market. It would be good to see stronger exports but if US can keep between 24,000MT and 28,000 MT with the number of hogs packers have to kill, hog market should remain supportive.
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