Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE
Cash cattle prices are down for the week and Thursday packers were active buyers. From a week ago cash prices are down $2.00 and in some cases as much as $3.00 to $4.00 lower.
LEAN HOGS
Pork is cheap compared to beef and people in the US rather eat more chicken, low priced beef products such as ground beef compared to increasing pork consumption. Pork consumption is estimated to be up 1 pound per person in 2023. There are more hogs with weights going up. For now, it is an indicator for a continued down slide unless pork demand can increase.
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