Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Trade volume was very light Thursday. August, the most actively traded month, had just 15,995 contracts traded.
For a few weeks expect on and off news reports about China buying beef. After President Trump’s meeting in China, there are traders expecting sales of beef to Chinese buyers.
LEAN HOG COMPLEX
Last week weights were up 1 pound from the previous week. Hogs are 5 pounds more than a year ago indicate packers have purposely slowed slaughter. Monday will show if hogs are getting heavier.
Pork exports were good. Mexico bought a good amount which is needed.
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