Written Commentary
MORNING LIVESTOCK OUTLOOK
Packers and meat buyers are concerned about inflation. With the majority of meat sold and bought using contracts based on formulas, the inflation factor will be given more weight on the formulas. It isn’t about the cattle kill today or how beef sells next week, it is about the cattle kill months ahead and in some cases years ahead.
Hog net exports of 25,400 MT are at a good level. Traders on Thursday were disappointed that China was such a weak buyer after last week’s strong buy.
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