Written Commentary
MORNING LIVESTOCK OUTLOOK
Don’t look for packers to be aggressive cash buyers this week and more than likely not for 3 to 4 weeks if then. At the same time, look for feedlots to hold cattle for next couple of weeks until January. Although feeder cattle have dropped in price, with high feed grain prices and tighter than normal basis for feed, feedlots will move the end of the year dead heads and keep the cattle that will add pounds.
Between China increasing tariffs and the new California law prohibiting sales of pork from farms raising sows in crates, it is difficult to see how hog prices for 2022 stay near current levels.
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