Written Commentary
LIVESTOCK AM OUTLOOK
Beef export net sales disappointing. South Korea the top buyer for 2021 only took 3300 MT. Japan the biggest buyer of the week took just 4000 MT. Exports should be at least 24,000 Mt to 25,000MT.
Live Cattle took a break Thursday. After two good moves higher on Tuesday and Wednesday, with no follow through in the morning, traders took some quick profits.
When volume is light and hog volume has been light, it is time to expect anything can happen. August is now tracking the CME Lean Hog Index and months from October on out are tracking the traders that have the biggest money and funds have it and they are big spreaders.
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