Written Commentary
LIVESTOCK AM OUTLOOK
For now, futures aren’t expecting cattle to move higher through July and into August. Slaughter numbers should be near 665,000/week at least through August.
Last week, similar to the previous week, cash cattle market had varying prices with lower prices in the Southwest to higher prices paid in the Midwest. Cattle in the Southwest sold from $118 to $120 and cattle in the Midwest sold from $124 to as high as $127.15. Look for the same type of buying during the coming week.
The 5 day pork average prices has been steadily moving higher since the beginning of July. Currently it is a little over $5.00 higher for the month. Slaughter is moving down, exports are good, and US demand is strong. Pork is cheap when compared to beef and the tight stocks of chicken,
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