Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
As of Thursday packers are counting heads to see just how many cattle they will need next week. It is to their advantage to keep cattle on feed in the producer feedlots and add weight even if they have to pay up for heavier Choice/Prime cattle. They are getting more than enough Select cattle they can buy at discount.
LEAN HOGS
Trade volume settled down Thursday with light to moderate volume. Some fund rolling took place. The US Dollar falling is positive for pork exports but with Brazil’s trade agreements with China, Mexico and Canada, the cheaper dollar may not be as positive.
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