Written Commentary
MORNING LIVESTOCK OUTLOOK
Over next three weeks, don’t look for packers to be aggressively pushing slaughter levels. Normally kill lightens during this time and with boxed beef falling on the daily cutout, packers will fill previously contracted meat contracts as daily meat sales to retail stores slows down. Also, with current cash prices feedlots may decide to keep cattle on feed until the new year which is also common.
Commodity cattle traders seem to take the day off on Friday. Trade volume was very slow.
Commodity markets are traded on expectations of what may happen in the future and on Thursday and Friday traders must be expecting by February 2022 hog prices will be much higher.
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