Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
LIVE CATTLE COMPLEX
Over the week the cme boxed beef index was down $6.32 with select beef the drag on the market. The choice cumulative boxed beef price compared to a week ago changed by losing $.06 with the select cumulative price off by $5.21.
With the increase of 300,000 mt of tariff free beef entering the US. Over 90 days along with the weekly increase of beef imports, last week up 14% ytd, select beef will pressure prices particularly chucks, rounds, flanks and plates both choice and select.
LEAN HOG COMPLEX
The drought monitor is showing many areas from texas up to the norther border states severely dry.
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