Written Commentary
MORNING LIVESTOCK OUTLOOK
Lean hogs were down for the week from Dec 2022 through April 2023 and up from June 2023 on out. Slaughters have been up and pork prices have been dropping. On the 5 day average pork carcass price compared to last Friday was 2.87 lower with loins $4.19 lower and hams down $3.74. Wholesalers and retailers don’t seem to be building inventory for upcoming holidays.
Very little change on Live Cattle futures over the week. Actually, from October 18th, there has been some trading throughout the days, but daily settlements close to sideways. Cattle numbers haven’t seen the peak many have expected and until numbers drop, markets may go sideways especially into 2023 cattle.
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