Written Commentary
MORNING LIVESTOCK OUTLOOK
Thursday DJIA fell the most since 2020, over 1063 points, rib and loin beef primals dragging down boxed beef, beef exports were low with a strong US Dollar, and the Federal Reserve in order to curb inflation raised interest rates this week. All are weighing on Live Cattle futures.
Pork export net sales were 23,800 mt. If exports could remain at this level week to week, it would be positive. Lean hogs moved higher again Thursday. Spreaders are active in intra and intra market spreading.
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