Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Live cattle trade volume was very light Thursday. Traders are uncertain and aren’t establishing new positions. Cattle remain bull spread, but bull spreads have been narrowing.
It is disappointing to have Japan and South Korea such light buyers of US beef when for years they were the best support for exports especially for the high end cuts. Both are buying more beef from Brazil and Canada.
LEAN HOG COMPLEX
Essentially, the Hogs and Pigs Report increased market hogs and hogs 180 pounds and over to make up for the increase in slaughter that has been taking place over the past month. Besides it, as the trend has been going there are more pigs saved per litter. More hogs per litter has been an integral part of reports. More hogs are going to added onto slaughter as the year progresses.
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