Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LEAN HOGS
Pork exports picked up last week for week ending April 13, 2023. Net export sales were 36,100MT with Mexico taking 13,100MT, Japan 4,600MT followed by Australia with 4,200MT. China didn’t buy.
LIVE CATTLE
Boxed beef was down Wednesday on morning sales. The surge beef has had could be slowing. If beef prices drop this week which won’t be surprising , packers will use it to slow the rally on showlist cattle. Packer profit margins are in the red buying showlist cattle when selling beef into the daily trade.
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