Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Packers are cutting back on slaughter this week. It’s the only way they can keep beef prices from crashing on what they buy from the showlist and what is sold on the daily beef market. Producers are told when to move cattle and how many are needed. Packers are buying exactly the number of cattle to fill orders and previously contracted beef.
PORK COMPLEX
Lean Hogs were lower Thursday. Traders are looking ahead and not seeing any increase in pork demand. Unless packers increase slaughter Friday and Saturday, this weeks slaughter is going to be like a storm market without storms as of Thursday compared to a week ago slaughter is down 149,000 head.
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