Written Commentary
MORNING LIVESTOCK OUTLOOK
Since the Cattle on Feed report was within the estimates, doubtful this report will do much. Packers paying higher for cattle Thursday and Friday which will be for next week and for the start of the following week indicates packers need cattle. Next week we will see if packers remain aggressive buyers.
Last week the pork cases 5 day average was down $4.55. Packers did push more hogs through last week and with the CME Pork Index to CME Lean hog Index at a plus $14.81 packers are making money and should want to keep kill up. Traders will be watching exports this week to see if they can keep the pace of last week
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